Absolute Priority Rule - Law Dictionary Search Results
absolute priority rule
Matched in: Term absolute priority rule
Absolute-priority rule
Matched in: Term Absolute-priority rule
Priority
Matched in: Term Priority
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Chose
the (English) Law of Properties Act, 1925, s. 136(1), replacing the (English) Jud. Act, 1873, s. 25(6), any absolute assignment by writing under the hand of the assignor (not purporting to be by way of charge only) … assignor would have been entitled to claim such debt, etc., is effectual in law (subject to equities having priority over the right of the assignee) to pass and transfer from the date of such notice (a) the … by action or other proceedings, as a debt, bond, etc. A well-known rule of the Common Law was that no possibility, right, title, or thing
Registration of title of land
in a register. The advantages which are claimed for the system are (a) purchasers for value of an absolute or good leasehold title are absolved from any inquiry into the title other than it is shown to … (x) Certain over-riding incidents [s. 70 (3)]. (xi) Notice of lien by deposit of certificate (s. 66). (xii) Priority notices (s. 88). (xiii) Notices to a sole trustee of registered land (s. 99). The priority of these … 1925, may, and in districts where registration is compulsory must, as a rule be registered except leaseholds having not more than 21 years unexpired, and
Rent
to a reversion. If they are held in fee simple in possession or for a term of years absolute (see LEASE) they are legal estates. All other rent-charges and rents, such as for life or remainder, etc., … degree than simple contract debts, and of equal degree with specialty debts; but that Act has abolished the priority, see Shirreff v. Hastings, (1877) 6 Ch D 610, and see now the Administration of Estates Act, 1925, … 1963 SC 1459: (1964) 2 SCR 114. [Punjab Urban Immovable Property Tax Rules, 1941, R. 18(4)(ii)] Rent is defined in sub-s. (19) of s. 2
Dearle v. Hall
any) are obliged to give information to persons equitably interested in the property. This duty is not, apparently, absolute, see Low v. Bouverie, (1891) 3 Ch 82. Under s. 137 the estate owner or fund holder becomes … takes its name from this case, reported 1823, 3 Russ. 1, originated with the bankruptcy rule conferring the priority of assignments of choses in action according to the date of notice to the debtor by the assignment,
Debt
priority. As to attachment of debts, see that title. Debts are assignable at law, if the assignment is absolute and in writing, where express written notice of the assignment is given to the debtor, trustee, or other … be administered (whether by personal representatives or by the Court, Re Cockell, 1932 AC 365) according to the rules which may be in force for the time being under the law of bankruptcy with respect to the
Equity of redemption
in property from the mortgagee on payment of principal, interest and costs. A mort-gagee, although he has become absolute owner of a legal estate in the mortgaged property, on account of the breach of the condition for … itself be mortgaged, and before 1926, each incumbrancer of the equity of redemption had preference according to his priority in time. Before 1926, the following dangers and disadvant-ages attended this species of security:- A prior mortgagee might
Abstract of title
TRUSTEES FOR SALE; UNDIVIDED SHARES; EQUITABLE INTERESTS, BANKRUPTCY and VESTING ORDERS. Abstracts on behalf of vendors who are absolute owners entitled in fee simple in possession are not exceptionally affected by legislation under these heads except so … they should have notice of the intended purchase, in order to exclude a subsequent purchaser or incumbrancer, since priority of notice gives priority of equity in dealings with equitable things in action, and dealings (after 1925) inequitable … deduced after 1925 have become simplified in some cases, but the old rules relating to titles and the state of the title up to 1st
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