Equitable Estates And Interests - Law Dictionary Search Results
Home Dictionary Name: equitable estates and interests Page: 4Settled land
Settled land. For the purposes of the (English) Settled Land Acts, 1882-1890, 'settled land' meant land, and any estate and interest therein, which was the subject of a settlement; and 'settlement' meant any instrument, or any number of instruments, under which any land, or any estate or interest in land, 'stands for the time being limited to or in trust for any persons by way of succession' (Settled Land Act, 1882, s. 2) (see infra for the statutory definitions in the Settled Land Act, 1925, which has repealed the S.L. Acts, 1882-1890). Where the settlement consists of more instruments than one it is commonly called a 'compound settlement,' though this term is not defined in the Acts themselves; as to compound settlements, see Re Du Cane & Nettlefold, (1898) 2 Ch 96; Re Munday & Roper, (1899) 1Ch 275; Re Lord Wimborne & Browne (1904) 1 Ch 537; Wolstenholme & Cherry, Conveyancing, etc., Acts.Prior to 1856 settled estates could not be sold or leased except under the authority of some po...
Land charge
Land charge, means a rent or annuity or principal moneys charged otherwise than by deed upon land under (English) Act of Parliament for securing to any person, the money spent by him, or under that Act, as a charge under the Land Drainage Act, 1861 (see DRAINAGE), or s. 20 of the Agricultural Holdings Act, 1923, for repayment of compensa-tion of tenant's improvements. See s. 4 of the Land Charges Registration and Searches Act, 1888 (51 & 52 Vict. c. 51), by s. 12 of which a 'land charge,' created after the commencement of that Act-i.e., after 1st January, 1889-is void against a purchaser for value of the land charged therewith, unless it has been registered in the 'Register of Charges,' in the manner mentioned in that Act, since transferred to the Land Registry by virtue of the Land Charges Act, 1900 (63 & 64 Vict. c. 26), repealed by the Land Charges Act,1925. By this Act the system of compulsory registration of charges over land has been greatly extended and no purchaser of land woul...
Undivided shares in land
Undivided shares in land. Before 1926 a legal estate in undivided shares in land was held by joint tenants, tenants in common, coparceners, and by husband and wife as tenants by entireties (see those titles), but now by the Law of Property Act, 1925, s. 1 (6), a legal estate is not capable of subsisting or of being created in an undivided share inland, and by the same s. 1 (3) and ss. 34 (4), 205, and 1st Sch., Part IV., and cf. TRUST FOR SALE, such shares are to take effect as equitable interests only in the net proceeds of sale and of the rents and profits of the entirety of the land until sale, while the legal estate must be held by trustees for sale of the entire undivided property. It should be noticed that shares only are affected by these provisions. The legal estate in the joint tenancy in the entirety of the trustees for sale persists ex necessitate rei, and this is given effect to by s. 36, as amended, prohibiting severance of the legal estate in joint tenancy and providing f...
Constructive trust
Constructive trust, a trust which the Court elicits by a construction put upon certain acts of parties. It arises upon a vendor's lien or charge upon land sold for unpaid purchase money, and generally, when an estate is subject to a trust or equitable interest or lien, and a person purchases it for value, with either actual or constructive notice of it, the estate will still be subject to the trust or equitable interest in the hands of such a purchaser.The doctrine of constructive trusts also arises upon the renewal of a lease by a trustee, or person having a limited interest, in his own name, even in the absence of fraud and upon the refusal of the lessor to grant a new lease to the cestui que trust or expectant; for such renewed lease is held upon trust for the person beneficially entitled to the old lease or the expectant, in order to prevent persons in fiduciary situations from acting so as to take a benefit for themselves. This doctrine is extended to the renewal of leases by one ...
Equitable interests
Equitable interests, all estates, interest and charges in or over land (other than those which can subsist at law) such as estates tail, life interests and remainders, take effect as equitable interests, Law of Property Act, 1925, s. 1(3), (UK). See also Halsbury's Laws of England (39), para 347, p. 243....
Reversion
Reversion [fr. revertor, Lat.], that portion left of an estate after a grant of a particular portion of it, short of the whole estate, has been made by the owner to another person. it is thus described by Mr. Watkins (Conv. C. 16): 'When a person has interest in lands, and grants a portion of that interest, or in other terms, a less estate than he has in himself, the possession of those lands shall, on the deter-mination of the granted interest or estate, return, or revert to the grantor. This interest is what is called the grantor's reversion, or more properly, his right of reverter, which, however, is deemed an actual estate in the land, bearing the fruits of seigniory. Thus a grant to an estate by the owner of the fee-simple: to A. for life,' leaves in the grantor the reversion in fee-simple, which will commence in possession after the determination of A.'s life-estate; and this is called the particular estate; particular, as carved or sliced out of the larger estate or reversion.'S...
Title
Title, means the union of all elements (as ownership possession, and custody) constituting the legal right to control and dispose of property; the legal link between a person who owns property and the property itself, Black's Law Dictionary, 7th Edn., p. 1493.Title: 1, a general head, comprising particulars, as in a book; 2, an appellation of honour or dignity; 3, the means whereby the owner of lands has the just possession of his property--titulus est justa causa pos sidendi id quod nostrum est: Co. Litt. 345b.1. The union of all elements (as ownership, possession, and custody) constituting the legal right to central and dispose of property; the2. Legal evidence of a person's ownership rights in property; an chastenment (such as a deed) that constitute such evidence3. The heading of a statute or other legal document, Black's Law Dictionary, 7th Edn.There are several stages and degrees requisite to form a complete title to lands and tenements.1. The lowest and most imperfect degree of ...
Release
Release [fr. relaxtio, Lat.], a gift, discharge, or renunciation of a right of action (see SURETY CON-SIDERATION); also a Common Law conveyance of a larger estate, or a remainder, or reversion to one already in possession, the operative verb in which is 'release'; hence the name. It operates or inures in five modes:-(a) By passing an estate to one or more already in possession (mitter l'estate), as where a coparcener conveys his estate to his coparcener, or where one of more than two joint tenants conveys his interest to one or more but not all of the others so as to sever that share. It also operates without mitter l'estate where one joint tenant releases his estate to the other, or all the other joint tenants so as not to create a severance. See Halsbury, L. of E., tit. 'Release.' In consequence of the privity between such parties, a fee-simple will pass without any words of limitation. Tenants in common, however, could not thus release to one another, since they had distinct interes...
Freehold
Freehold, one of the two chief tenures known in ancient times by the phrase 'tenure in free socage,' and the only free lay-mode of holding property. It is derived from the feudal system, but the services connected with it were honourable and mild. The annihilation of the feudal severities has left this tenure unshackled, and by far the greater part of the real property in this country is freehold.Such an interest in lands of frank tenement as may endure not only during the owner's life, but which is cast after his death upon the persons who successively represent him. Such persons were called heirs, and he whom they thus represented, the ancestor. When the interest extended beyond the ancestor's life, it was called a freehold of inheritance, and when it only endured for the ancestor's life, it was a freehold not of inheritance.An estate to be a freehold must possess these two qualities: (1) immobility, that is, the property must be either land or some interest issuing out of or annexed...
Easement
Easement, An easement is a right which the owner or occupier of certain land possesses, a such, for the beneficial enjoyment of that land, to do and continue to do something, or to prevent and continue to prevent something being done, in or upon, or in respect of, certain other land not his own. [Easement Act, 1882 (5 of 1882), s. 4]Easement, a privilege without profit which the owner of one neighbouring tenement hath of another, existing in respect of their several tenements, by which the owner of the one (called the servient) tenement is obliged to suffer, or not to do something on his own land, for the advantage of the owner of the other (called the dominant) tenement, e.g., a right of way, a right of passage of water. It is the servitus of the Civil Law. An easement being a mere right without profit must be distinguished from a profit a prendre (q.v.), which confers a right to take something from the servient tenement. Instances of easements are rights of way, light, support, or fl...
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