Charitable Remainder Trust - Law Dictionary Search Results
charitable remainder trust
charitable remainder trust see trust ...
qualified charitable remainder trust
qualified charitable remainder trust see trust ...
charitable remainder annuity trust
charitable remainder annuity trust see trust ...
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also beneficiary, cestui que trust, corpus declaration of trust at declaration, principal, settlor NOTE: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted...
charitable remainder unitrust
charitable remainder unitrust see trust ...
Perpetuity
Perpetuity, concerns rights of property only, and does not affect the making of contracts, which do not create rights of property, Ram Baran Prasad v. Ram Mohit Hazara, AIR 1967 SC 744: (1967) 1 SCR 293.Is a future limitation, whether executory or by way of remainders, and of either real or personal property which is not to vest until after the expiration of, or will not necessarily vest within the period fixed and prescribed by law for the creation of future estates and interests, Walsh v. Secretary of State for India, (1863) 10 HLC 367.Perpetuity, unlimited duration; exemption from intermission or ceasing, where, though all who have interest should join in a covenant, so that they could not bar or pass the estate. It is odious in law, destructive to the common wealth, and an impediment to commerce, by preventing the wholesome circulation of property.The rule against perpetuities, or the doctrine of remoteness, applies to the corpus of property whether real or personal, and whether li...
Deed
Deed [fr. d'd, Sax.; ded gaded, Goth.;daed, Dut.], a formal document on paper or parchment duly signed, sealed, and delivered. It is either an indenture (factum inter partes) needing an actual indentation [(English) Real Property Act, 1845 (8 & 9 Vict. c. 106), s. 5], reproduced by the Law of Property Act, 1925, s. 56 (2), made between two or more persons in different interests, or a deed-poll (charta de una parte) made by a single person or by two or more persons having similar interests. By the (English) Law of Property Act, 1925, s. 57, a deed may be described according to the nature of the transaction, e.g., 'this lease,' 'this mortgage,' etc., or as a 'deed' and not habitually by the word 'indenture.'The requisites of a deed are these:-(1) Sufficient parties and a proper subject of assurance.(2) It must be written, engrossed, printed, or lithographed, or partly written or engrossed, and partly printed or lithographed in any character or in any language, on paper, vellum, or parchm...
Property
Property, an actionable claim against the tenants is undoubtedly a species of property which is assignable, State of Bihar v. Kameshwar Singh, AIR 1952 SC 252.Comprises every form of tangible property, even intangible, including debts and chooses in action such as unpaid accumulation of wages, pension, cash grants, and constitutionally protected privy purse, See M.M. Pathak v. Union of India, AIR 1978 SC 802.Decree is to be treated as property, Associated Hotels of India v. Jodha Mal Kuthiala, AIR 1950 Punj 201.Every movable property is included in the ordinary connotation of the word 'property', Chunni Lal v. State, AIR 1968 Raj 70.In commercial law this may carry its ordinary meaning of the subject-matter of ownership. But elsewhere, as in the sale of goods it may be used as a synonym for ownership and lesser rights in goods, Dictionary of Commercial Law by A.H. Hudson, (1983, Edn.).In Entry 42, List III (Constitution of India) includes the power to legislate for acquisition of an un...
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