Equitable Estates - Law Dictionary Search Results
Joint-tenancy
is repugnant and they take as joint-tenants. This and the following paragraphs still hold good in respect of equitable interests in joint estates in land, the beneficial ownership of a legal estate in land of joint-tenants having
Equitable mortgage
Matched in: Term Equitable mortgage
Equity of redemption
Equity of redemption. Before 1926 the equitable estate or interest left in a person after he had mortgaged his property. Now the right to call … Equity of redemption. Before 1926 the equitable estate or interest left in a person after he had mortgaged his property. Now the right to call for
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Power
by law, and whether created before or after the Act, will operate only in equity and are termed equitable powers. The only exceptions are legal powers (see ibid., s. 1 (8)) which can operate in law after … an executor, to sell an estate, to whom no estate was devised, and a statutory power to sell estates, as in the instance of the Land Tax Redemption Acts, are both Common Law authorities. The estate passed
Estate
the quantity of interest, e.g., estate in fee simple, for life, for years, etc., in either legal or equitable estates. In practice its most important division is into real estate and personal estate, although the consequences of that
trust
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 … 13 of the Bankruptcy Code. by·pass trust : a trust in which a spouse leaves his or her estate upon death to a trust naming the surviving spouse as beneficiary usually with remainders to children or other
Fee-simple
the word 'simple' will not pass the estate [Re Ethel, (1901) 1 Ch 945). Even in conveying an equitable fee-simple, words of limitation were essential [Re Monckton, (1913) 2 Ch 636]. The (English) Law of Property Act, … Fee-simple, a freehold estate of inheritance, absolute and unqualified. It stands at the head of estates as the highest in dignity and the most ample in extent; since every other kind of estate is
Dower
years. The legal estate in dower (being an estate for life) has been abolished and converted into an equitable interest (ibid.), (English) L.P. Act, 1925, s. 1; it can only arise in respect of deaths after 1925 … she may be at her husband's decease, provided she be past the age of nine years. The legal estate in dower (being an estate for life) has been abolished and converted into an equitable interest (ibid.), (English)
Passive trust
escape from the trammels and hardships of the Common Law, the permanent division of property into legal and equitable interests being clearly an invention to lessen the force of some pre-existing law. For similar reasons equitable interests … ownership was attended with some peculiar inconveniences. For, in order to guard against the forfeiture of a legal estate for life passive trusts, by settlements, were resorted to, and hence, trusts to preserve contingent remainders; and passive
Springing use
Property Act, 1925, which also converted executory as well as all other future interests in land in to equitable interests, and even before 1926, where the executory devise, shifting or springing use, or contingent remainder did not … property inland to vest at a future period which does not coincide with the termination of a legal estate at common law, for instance. In conveyances before 1926, upon a grant by X. To B. to the
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