Estates - Law Dictionary Search Results
Home Dictionary Name: estatesEstate
Estate [fr. status, Lat.; etat, Fr.], the condition and circumstance in which an owner stands with regard to his property. The word is used in several senses and may denote either an estate in land; or an estate in property other than land; a legal estate or an equitable estate, land being an immovable is capable of being the subject of many estates existing concurrently with each other, thus the absolute ownership or fee simple may be leased and sub-leased, mortgaged and charged, each of the holders of these estates having a good legal or equitable estate at the same time; again, estates may be in possession, or in futuro; personal property may also be subject concurrently to a variety of ownerships, according to its nature; technically, in regard to land, the word is used to denote 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, altho...
Equitable estates and interests
Equitable estates and interests, Rights relating to property of which the legal ownership is vested in another person, or in the equitable owner himself in another capacity. The rights arise whenever a person obtains a title to have the property or an estate or interest in it vested in himself, e.g., by contract or by any conveyance or assignment which does not by law transfer or vest the legal estate or ownership in the transferee, by mortgage or charge, and whenever a trust arises, either express, constructive, implied or by operation of law. In theory the legal owner alone was entitled, both in law and equity, to the property, and he alone was responsible for the obligations and incidents attaching to the property, the beneficial owner merely having a personal right inequity to force the legal owner to carry out his obligation or trust, but the rights and obligations of beneficial ownership became recognized and affected by statute. The Statute of Uses turned the beneficial right or...
Will, Estate at
Will, Estate at. This estate entitled the grantee or lessee to the possession of land during the pleasure of both the grantor and himself, yet it creates no sure or durable right, and is bounded by no definite limits as to duration. It must be at the reciprocal will of both parties expressly or by implication (Co. Litt. 55 a), and the dissent of either determines it. The grantee cannot transfer the estate to another, although after he has entered into possession he may accept a release of the inheritance from the grantor, for there exists a privity between them. It must end at the death of either party, for death deprives a person of the power of having any will. If a lessee for years accept an estate at will in the property lease, his term of years would in law be surrendered.An estate at will is created either by the stipulation or express agreement of the parties, or by construc-tion of law.S. 54 of the Law of Property Act, 1925, enacts that a lease by parol for a longer term than t...
Autre vie, Estate pur
Autre vie, Estate pur, a tenancy of land for the life of another who is called the cestui-que vie. The lowest estate of freehold which the law allowed before 1926. After 1925 the estate has become an equitable interest, (English) Law of Property Act, 1925, s. 1. If limited to the grantee and his heirs, it passed to the grantee's heirs or special occupants; if granted to executors or administrators, they took, as special occupants, if in that case or if there was no special occupant the estate went to the executors or administrators of the grantee. (Wills Act, 1837 (1 Vict. c. 26), s. 6, superseding the Statute of Frauds, s. 3, and 14 Geo. 2, c. 20, s. 9). By s. 3 of the (English) Wills Act, 1837, the estate was declared to be disposable of by will. The estate could be assigned inter vivos. It could not be the subject of entail, see Carson's Real Property Statutes; Notes to s. 1 of the (English) Fines and Recoveries Act, 1833 (3 & 4 Wm. 4, c. 74). It was not subject to dower or curtesy....
Estate owner
Estate owner. Under the Law of Properties Act, 1925, ss. 1(4) and 205(v.), means the owner of a legal estate (q.v.) in land, but an infant is not capable of being an estate owner. Estate owners include the owners of any legal estate such as tenants in fee simple, lessees, mortgagees having a legal estate, trustees for sale, tenants for life, if of full age, including statutory owners and all persons having the powers of a tenant for life under S.L. Act, 1925, s. 20, personal representatives until they have conveyed the legal estate (Re Bridgett and Hayes, 1928 Ch 163), statutory owners (q.v.). See INFANT; LEGAL ESTATE....
Owner (Estate Owner)
Owner (Estate Owner), defined by s. 205 (1)(ix.), Law of Property Act, 1925, as 'the owner of a legal estate, but an infant is not capable of being an estate owner.' Estate owners for the purposes of the land legislation of 1925 include an owner of full age (including a corporation) who is the person designated by the land legislation of 1925 as the person having the power to give a legal title to the whole of the estate (see LEGAL ESTATE) for the purposes of sale, mortgage, lease or otherwise. This includes the absolute beneficial owner, tenants for life, statutory owners (q.v.), trustees for sale, and personal representatives and mortgagees in exercise of their paramount powers. The legal title so disposed of is subject to all such equities, liabilities and charges and obligations (if any) attaching to the estate as may be binding on the transferee and the estate after it has been disposed of under the provisions of the Acts....
Que estate
Que estate [quorum statum, Lat.], as much as to say, whose estate he has. Where prescriptive rights are claimed by reason of the continuous and immemorial enjoyment thereof by the claimant, a person seised in fee, and by all those whose estate he has, this is called a prescription in a que estate. The phrase is taken from the Norman French: that he, and all those whose estate he has, have from time immemorial enjoyed the right-tous ceus que estate il ad.-Williams on Rights of Common, p. 16. A person cannot prescribe in anything by a que estate that lies in grant, and cannot pass without deed or fine; but in him and his ancestors he may, because he comes in by descent without any conveyance, Co. Litt. 121 a; 2 Bl. Com. 264; 2 Br. & Had.Com. 419. A prescription in a que estate for a profit a prendre in alieno solo without stint and for commercial pur-poses is unknown to the law, Harris v. Chesterfield (Earl), 1911 AC 623. See PRESCRIPTION....
Real Estate
Real Estate. Before 1926, land (with all houses, etc., built thereon) including all estates and interests in lands which are held for life (not for years, however many) or for some greater estate, and whether such lands be of freehold or copyhold tenure. This is the usual meaning of real estate, but for the purposes of devolution upon deaths after 1925 the definition of real estate by s. 3 of the Administration of Estates Act, 1925, is 'real estate includes chattels real and land in possession, remainder or reversion and every interest in or over land to which the deceased was entitled at his death and (ii.) real estate held on trust (including settled land) or by way of mortgage or security, but not money to arise under a trust for sale of land nor money secured or charged on land'; Consult Carson's Real Property Statutes; Williams on Real Property; Burton's Compendium....
Estate duty
Estate duty. A duty first levied by the (English) Finance Act, 1894 (57 & 58 Vict. c. 30), upon the principal value of all property, real or personal, settled or not settled, which passes or is deemed to pass on the death of a person after 1st August, 1894. Property 'passing' on death includes gifts or dispositions by the deceased to another person within three years of death, the estate duty taking the place of the 'account duty,' leviable on such gifts within twelve months of death, by virtue of s. 38 of the (English) Customs and Inland Revenue Act, 1881, as amended by s. 11 of the (English) Customs and Inland Revenue Act, 1889. Property 'passing' on death includes also settled property, in which the life interest is surrendered to the remainderman by the tenant for life within the three years before the death of the tenant for life, by virtue of s. 11 of the Finance Act, 1900 (62 & 63 Vict. c. 7), passed to alter the law as laid down by the Court of Appeal in Attorney-General v. de ...
Original and derivative estates
Original and derivative estates. An original is the first of several estates, bearing to each other the relation of a particular estate and a reversion. An original estate is contrasted with a derivative estate; and a derivative estate is a particular interest carved out of another estate of larger extent, Prest. On Est. 125....
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