Executory Remainder - Law Dictionary Search Results
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executory remainder see remainder ...
Executory remainder
Executory remainder, a contingent remainder, because no present interest passes....
remainder
remainder [Anglo-French, from Old French remaindre to remain] 1 : an estate in property in favor of one other than the grantor that follows upon the natural termination of a prior intervening possessory estate (as a life estate) created at the same time and by the same instrument compare future interest at interest, reversion charitable remainder : a remainder in favor of a charity contingent remainder : a remainder that is to take effect in favor of an unidentifiable person (as one not yet born) or upon the occurrence of an uncertain event called also executory remainder cross remainder : either of two or more remainders in favor of two or more persons so that upon the termination of one remainder that share goes to the other or others executory remainder : contingent remainder in this entry remainder vested subject to open : a vested remainder that is subject to diminution by the shares of other remaindermen (as children born later) vested remainder : a remainder in the fa...
Executory devise
Executory devise. Mr. Fearne (Cont. Rem. 386) defines an executory devise to be, strictly, such a limitation of a future estate or interest in lands or chattels (though, in the case of chattels personal, it is more properly an executory bequest) as the law admits in the case of a will, though contrary to the rules of limitation in conveyances at Common Law. It is only an indulgence allowed to a man's last will and testament, where otherwise the words of the will would be void; for wherever a future interest is so limited by devise as to operate as a contingent remainder, such an interest is not an executory devise, but a contingent remainder.Executory Devises have been divided into three kinds, two relative to real, and the third to personal estate only, viz.:-(1) Where a testator devises his whole fee-simple, but upon some contingency qualifies such devise, and limits an estate on the contingency; e.g., a devise of land to the testator's wife for life, remainder to C., his second son ...
Remainder
Remainder [fr. remanentia, Lat.], that expectant portion, remnant, or residue of interest which, on the creation of a particular estate, is at the same time limited over to another, who is to enjoy it after the determination of such particular estate.After 1925 remainders can operate only as equitable interests, and in that manner they can be created in respect of personality as well as realty. The follow-ing explanation of legal remainders has been retained as relating to titles to land existing before 1926, and see (English) Law of Property Act, 1925, s. 4, as to the construction of equitable interests.A remainder may be limited in all freehold estates, but not strictly and technically in chattels real and personal, although these may be limited over after a previous limitation or a partial interest in them. It may be limited by way of use (which is, in practice, the usual method), as well as by a conveyance deriving its effect from the Common Law.In the same land there may at the sa...
Contingent remainder
Contingent remainder, a remainder limited so as to depend on an event or condition which may never happen or be performed, or which may not happen or be performed till after the determination of the preceding estate, Fearne, Cont. Remainders.The legal estate in contingent remainders has been abolished by the Law of Property Act, 1925, s. 1. S. 4, whoever, provides that they can take effect as equitable interests, and any instrument creating a contingent remainder has become a settlement under s. 1 (ii) of the (English) S.L. Act, 1925. See SETTLED LAND.In Smith d. Dormer v. Parkhurst, (1740) 18 Vin. Abr. 413; 6 Bro. Cas. Par. 351, the Court held that, in every case where an estate is given to A. for life, the grantor has an interest remaining in him to enter upon the estate, if it should determine by any act of the tenant amounting to a forfeiture; that this right is inherent in the grantor, from the nature of the estate itself, and may be conveyed to trustees; and that, when it is conv...
destructibility of contingent remainders
destructibility of contingent remainders :a now largely abolished rule in the law of estates that a contingent remainder that fails to vest upon the termination of the preceding estate is destroyed see also executory interest at interest ...
Executory limitation
Executory limitation. A limitation of a future interest by deed or will; if by will, it is also called an executory devise. The (English) Conveyancing Act, 1882 (45 & 46 Vict. c. 39), s. 10, restricted executory limitations of land contained in an instrument coming into operation after 1st January, 1883, by the enactment:'Where there is a person entitled to land for an estate in fee, or for a term of years absolute or determinable on life, or for term of life, with an executory limitation over on default or failure of all or any of his issue whether within or at any specified period of time or not, that executory limitation shall be or become void and incapable of taking effect, if and as soon as there is living any issue who has attained the age of 21 years, of the class on default or failure whereof the limitation over was to take effect.' See Re Booth, (1900) 1 Ch 768; Re Shrubb, 1910 WN 143.These provisions were re-enacted by s. 134 of the (English) Land Charges Act, 1925, and exte...
executory limitation
executory limitation : a limitation that creates an executory interest [a fee simple subject to an executory limitation] see also executory interest at interest ...
Vested remainder
Vested remainder, an expectant estate, which is limited or transmitted to a person who is capable of receiving the possession, should the particular estate happen to determine: as a limitation to A. for life, remainder to B. and his heirs; here, as B. is in existence he is capable (or his heirs, if he die) of taking the possession whenever A.'s death may occur. A vested estate may take effect though the preceding estate be defeated, as when an infant makes a lease for life with a remainder over, and on majority he disagrees to the estate for life, but not with the remainder; the remainder is good, having been duly vested by a god title. See Fearne, C.R. 308; 1 Steph. Com.The person who is entitled to a vested remainder having a present vested right of future enjoyment, i.e., an estate in pr'senti, to take effect in possession and pernancy of the profits in futuro, can transfer, alien, and charge it much in the same manner as an estate in possession, 2 Cru. Dig. 204.Interests in remaind...
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