Estate Owner - Law Dictionary Search Results
Joint-tenancy
Joint-tenancy. This tenancy is created where the same interest in real or personal property is, by the act of the party, passed by the same matter of conveyance or claim in solido, and not as merchan-dise, or for purposes of speculation, to two or more persons in the same right, either simply, or by construction or operation of law jointly, with a jus accrescendi, that is, a gradual concentration of property from more to fewer, by the accession of the part of him or them that die to the survivors or survivor, till it passes to a single hand, and the joint-tenancy ceases.Anciently, joint-tenancy was favoured because it did not induce fractions of estates, and returning to early principles the (English) Land Legislation of 1925 has employed the tenure generally as the machinery by which legal estate may in such cases always be in some person, called the estate owner, who is competent to give a title to the whole estate without the concurrence of other parties. that legal estate has been ...
Priority
Priority, an antiquity of tenure in comparison with another less ancient; also that which is before another in order of time.As to priority among creditors, see (English) Admin-istration of Estates Act, 1869, reproduced by ss. 32 to 34, (English) Administration of Estates Act, 1925, and the First Sch., which provides that in the administration of the estate of any person who shall die on or after 1st January, 1870, no debt or liability of such person shall be entitled to any priority or preference by reason merely that the same is secured by or arises under a bond, deed, or other instrument under seal, or is otherwise made or constituted a specialty debt.The priority in legal and equitable assignments of equitable choses in action are determined accord-ing to the date of receipt of notice by the persons who are for the time being owners of the legal interest in the property assigned. Before 1926 the notice might be verbal; after 1926 it must, for the purposes of establishing priority a...
Covenant
Covenant [fr. Covenant, Fr.], any agreement, convention, or promise of two or more parties, by deed in writing, signed, sealed, and delivered, by which either of the parties pledges himself to the other that something is either done or shall be done, or stiuplates for the truth of certain facts. He who thus promises is called the covenantor; and he to whom it is made the covenantee. A covenant being part of a deed is subject to the general rules for the construction of such instruents; as, first, to be always taken most strongly against the covenanter and most in favour of the covenantee; secondly, to be taken according to the intent of the parties; thirdly, to be construed ut res magis valeat quam pereat; fourthy, when no time is limited for its performance, that it be performed in a reasonable time.Covenants are personal obligations; formerly the did not bind theheirs of the covenanter unless the heirs were named and inthat case only to the extent of the lands descended, but if made ...
Tithe Rent-Charge
Tithe Rent-Charge. A charge on land, substituted by commutation for that charge on the produce of the land for the benefit of the Church, which was called tithe from being the tenth part of the increase yearly arising and renewing from the profits of lands, the stock upon lands, and the personal industry of the inhabitants; the first species being usually called pr'dial, the second mixed, the third personal.This commutation was effected by a procedure set on foot by the (English) Tithe Act, 1836 (6 & 7 Wm. 4, c. 71), amended by subsequent Acts. See Chitty's Stat., tit. 'Tithe Rent-Charge.' The amount to be paid was annually adjusted, according to the price of corn.The commutation was effected in one of two ways-either by a voluntary parochial agreement, con-firmed by the commissioners, or by the compulsory award of the commissioners. The value, either voluntarily agreed upon or awarded by the commissioners, was considered as the amount of the total rent-charge to be paid in respect of ...
Dearle v. Hall
Dearle v. Hall. The rule which 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, Ryall v. Rowles, 1 Ves Sess 348. Before 1926 the rule was that the priority of equitable assignments of debts and other choses in action was determined by priority in date of notice to the trustees or other owners of the legal interest in the property assigned, see Ward v. Duncombe, 1893 AC 369. The rule did not extend to equitable interests in land except to proceeds of land held on trust for sale, see Lloyd's Bank v. Pearson, (1901) 1 Ch 685, and QUI PRIOR EST TEMPORE POTIOR EST JURE. S. 137 of the Law of Property Act, 1925, has extended the rule to dealings with equitable interests in land, capital money (see s. 205(1)(xxvi.) of the Act), and securities representing capital money effected after 1925. To effect priority among competing assi...
Vesting instrument
Vesting instrument, a deed, order of Court, or assent, constituting the evidence under the (English) Settled Land Act, 1925, of the title of a tenant for life or statutory owner to the legal estate in settled property as estate owner thereof. This evidence is essential for the settlement of a legal estate in land otherwise than by way of trust for sale (Settled Land Act, 1925, s. 4). The trusts are (after 1925) to be declared by a separate instrument called the Trust Instrument (see that title). Sec. 5 of the Act provides that the principal vesting deed must state:(a) a description of the settled land;(b) that the settled land is vested in the person or persons to or in whom it is conveyed or declared to be vested upon the trusts from time to time affecting the settled land;(c) the names of the trustees of the settlement;(d) any powers which are additional or larger than the statutory powers and are exercisable as statutory powers under the Act;(e) the name of the person entitled under...
Infant
Infant [fr. infans, Lat., one who cannot speak], a person under twenty-one years of age, whose acts are in many cases either void or voidable. See AGE.At Common Law, the contracts of infants are divided into three classes: 1st. Those which are absolutely void; such as are positively injurious to the interests of the infant, and can only operate to his prejudice; as a surety-bond, or a release to his guardian.2nd. Those which are only voidable: such as are beneficial to him, which he may affirm or avoid when he comes of age; as a conveyance of lands, a promissory note, an account stated.3rd. Those which are binding ab initio and need on ratification: such as contracts for the public service, Articles of apprenticeship [see Green v. Thompson, (1899) 2 QB 1], executed contracts of marriage, representative acts as executor or trustee, contracts for necessaries. In an action brought for the price of goods, if the defendant pleads infancy, the onus is on the plaintiff to prove that the goods...
Portion
Portion, property settled or provided in favour of children or their issue. In settlements by deed or will of personal property, portions were and are usually effected by direct trusts in favour of the children or issue, either immediately or after the death of the parent or parents. In regard to realty the usual plan was to settle a long term of years from or out of the real estate upon trust to sell or mortgage the term in order to provide the portions when they became payable. See SATISFIED TERM; ATTENDANT TERM. This term preceded the settlement of the estate in fee or in tail according to the intention of the settlor. This method is still available although the term is not a legal estate and will not affect a purchaser even with notice who takes his title from estate owners who are entitled to sell the estate unaffected by the term, but the trustees entitled to the term may require to have the term secured by a legal mortgage. See Law of Property Act, s. 3 (1) and Settled Land Act,...
Title to lands, Documents of
Title to lands, Documents of. As to dealing with title-deeds as mere personal chattels, see Swanley Coal Co. v. Denton, (1906) 2 KB 873. Properly speak-ing, however, they are not chattels; Coke calls them 'the sinewes of the land' (Co. Litt.6 a), and they are so closely connected with it that they will pass, on a conveyance of the land, without being expressly mentioned; the property in the deeds passes out of the vendor to the purchaser simply by the grant of the land itself, Williams on Personal Property. Sec. 45 (1) of the (English) Law of Property Act, 1925, provides that a vendor shall be entitled to retain documents of title where (a) he retains any part of the land to which the documents relate, or (b) the document consists of a trust instrument or other instrument creating a trust which is still subsisting or in instrument relating to the appointment or discharge of a trustee of a subsisting trust. As a rule the estate owner (q.v.) is entitled to possession of the documents rel...
agent
agent 1 : someone or something that acts or exerts power : a moving force in achieving some result 2 : a person guided or instigated by another in some action [where the heads of departments are the political…s of the executive, merely to execute the will of the president "Marbury v. Madison, 5 U.S. 137 (1803)"] see also innocent agent 3 a : a person or entity (as an employee or independent contractor) authorized to act on behalf of and under the control of another in dealing with third parties see also agency, fiduciary relationship, subagent compare fiduciary, principal, servant apparent agent : an agent acting under an agency by estoppel bar·gain·ing agent : a labor union that represents the employees in a bargaining unit in negotiating with their employer through collective bargaining business agent : an agent that handles business affairs for another person or organization ;esp : a paid official of a union who carries on union business between the employ...
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