Outstanding Term - Definition - Law Dictionary Home Dictionary Definition outstanding-term

Definition :

Outstanding term, a term in gross at law, which, in equity, may be made attendant upon the inheritance, either by express declaration or by implication. See the (English) Satisfied Terms Act, 1845, extended by the (English) Law of Property Act, 1925, s. 5, and 1st Sched., Part II., par. (1), to outstanding terms out of leaseholds and vesting the outstanding terms in the immediate reversion; for the law before 1926, see Re Moore and Helm, (1912) 2 Ch 105, and for conditions of sale. [see Law of Property Act, 1925, s. 42 (3)]