Equitable Owner - Law Dictionary Search Results
Home Dictionary Name: equitable owner Page: 2 Page 2 of about 53 results (0.004 seconds)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 c. 26), repealed by the Land Charges Act,1925.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...
Abstract of title
Abstract of title. A concise statement, usually prepared for a mortgagee or purchaser of real property, summarising the history of a piece of land including all conveyances interests, lines & encumbrances that reflect title to property, Black's Law Dictionary, 7th Edn., an epitome of the evidence of title to property or power to deal with it.Every purchaser of land or real estate has an implied right to have an abstract of title delivered to him within a reasonable time, Compton v. Bagley, (1892) 1 Ch 313. As to registered land, see the Land Registration Act, 1925, s. 110, and Brickdale and Stewart-Wallace on the Land Registration Act, 1925.An abstract is said to be perfect if it deduces the title from the date fixed by the contract or by statute for its commencement and discloses every incumbrance affecting it, by setting out the material parts of all deeds, wills and other documents, and stating the facts on which it depends: fc. 1 Pres. 42, 207. The statutory period is thirty years,...
Trustee
Trustee, is the legal owner of the property the actual owner thereof having lost title thereto by the creation of a trust. The equitable ownership in the trust property vests in the beneficiaries. The trust is thus an incidence of dual ownership in which the creator of the trust no longer figures, Baba Badri Dass v. Dharma, AIR 1982 P&H 255.Means one who, having legal title to property, holds it in trust for the benefit of another and owes a fiduciary duty to that beneficiary, Black's Law Dictionary, 7th Edn., p. 1519.Trustee, one entrusted with property for the benefit of another, called beneficiary, or cestui que trust. See also PUBLIC TRUSTEE; BREACH OF TRUST.Consult Lewin or Godefroi on Trusts.'Trustee' means any person, by whatever desig-nation known, appointed to administer a religious trust either verbally or by or under any deed or instrument or in accordance with the usage of such trust or by the District Judge or any other competent authority, and includes any person appointe...
alluvion
alluvion : material (as clay, silt, sand, or gravel) deposited by running water ;esp : the land added by the gradual or imperceptible accumulation of such material along a bank or shore [ formed in front of the property of several owners is divided equitably "Louisiana Civil Code"] ...
restitution
restitution 1 a : a restoration of something to its rightful owner b : a making good of or giving an equivalent for some injury 2 a : the equitable remedy of restoring to an aggrieved party that which was obtained in unjust enrichment b : a remedy for breach of contract that consists of restoring the aggrieved party to the status quo that existed before the contract was made 3 : an amount to be paid for the purpose of restitution [ordered to pay to the victim of his crime] compare fine res·ti·tu·tion·al [res-tə-tü-shə-nəl, -tyü-] adj res·ti·tu·tion·ary [res-tə-tü-shə-ner-ē, -tyü-] adj res·ti·tu·tive [res-tə-tü-tiv, -tyü-] adj res·ti·tu·to·ry [res-tə-tü-tə-rē, -tyü-; rə-sti-tyə-tōr-ē] adj ...
Parties
Parties, a suit under s. 92 of the code is thus a representative suit and as such binds not only the parties named in the suit-title but all those who are interested in the trust, R. Venugopala Naidu v. Venkatarayulu Naidu Charities, AIR 1990 SC 444 (447): 1989 Supp (2) SCC 356. (Code of Civil Procedure, s. 92)Persons jointly concerned in any deed or act; litigants.The Rules of the Supreme Court, 1883, Ord. XVI., make very full provision as to the joinder of parties and the consequences of misjoinder and non-joinder. All persons may be joined as plaintiffs in whom the right to any relief claimed is alleged to exist, whether jointly, severally, or in the alter-native. Two or more defendants may be joined, in case the plaintiff is in doubt as to the person from whom he is entitled to redress. Trustees, executors, and administrators may sue and be sued on behalf of or as representing the property or estate of which they are the trustees or representatives, without joining any of the parti...
Restrictive Covenant
Restrictive Covenant, defined by the Land Charges Act 1925, s. 10, Class D (ii.), as a covenant or agreement (not being made between lessor and lessee), restrictive of the user of the land, and see s. 20 (11), ibid. Such a covenant is in the nature of an equitable easement restricting the use or enjoyment or certain land for the benefit of other land and binding on every owner (see Law of Property Act, 1925, ss. 78 and 79) of the (servient) land having notice of the covenant, see Tulk v. Moxhay, 2 Phil 774, and Smith's L.C., Notes to Spencer's case. Upon sale of land under a building scheme, of which the restriction formed part, the purchasers of plots may enforce the covenant, see Elliston v. Reacher, (1908) 2 Ch 665; see also Drake v. Gray, (1936) 1 Ch 465; Re Union of London and Smith's Bank; Miles v. Easter, 1933 Ch 611. Under the Land Charges Act, 1925, s. 10, Class D (ii), restrictive covenants made after 31st December, 1925, must be registered as a land charge (q.v.), and under ...
Part-owners, or co-owners
Part-owners, or co-owners, joint owners, or tenants in common, who have a distinct, or at least an independent, although an undivided, interest in the property. If the property is in land, by the (English) Law of Property Act, 1925, s. 1 (6), a legal estate is not capable of subsisting or of being created in an undivided share in land and the beneficial interest in the property is merely equitable [ibid., sub-s. (3)] See, further, UNDIVIDED SHARES. Neither of them can transfer or dispose of the whole property, or act for the others as partners can in relation thereto; each can merely deal with his own share, and to the extent of his own several right and interest. It is an entirely different relation from partnership.Part-owners of ships are tenants in common, with distinct and undivided interest, and each is the agent of the others, as to the ordinary repairs, employment, and business of the ship, in the absence of any known dissent. The property in a ship, is by s. 5 of the (English)...
Uses
Uses (History). A use is the intention or purpose, express or implied, upon which property is to be held. The Common Law treated the actual possessor for all purposes as the owner of the property. It was not difficult to find him out, since the possession of his estate was conferred upon him by a formal and notorious ceremony, technically called livery of seisin, which was performed openly and in the presence of the people of the locality.It soon became evident that the simple rules of the Common Law were stumbling-blocks to the complicated wants of an enterprising people.Hence ingenuity was sharpened to hit upon a device which should set at nought the rigidity of existing law and formalities.A system was found by the monastic jurists upon a model furnished by the Civil Law, which, by a nice adaptation, evaded, without overturning, the Common Law. Two methods of transferring realty began to co-exist in this country-the ancient Common Law system, and the later invention, which is denomi...
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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