Expectation Interest - Law Dictionary Search Results
Particular estate
Particular estate, that interest which is granted or carved out of a larger estate, which then becomes an expectancy either in reversion or remainder. See 3 Prest. Conv. 169.
Future estates
Future estates, expectancies, which are, at Common Law, of two kinds: reversions and remainders. If in land, these are now referred … Common Law, of two kinds: reversions and remainders. If in land, these are now referred to as equitable interests by the L.P. Act, 1925, and are no longer capable of subsisting, being conveyed or created at law
Possibility
Possibility, expectation, an uncertain thing which may or may not happen. It is either near, or ordinary, as where an … and that she shall die and he shall marry another. See next title. A possibility coupled with an interest in any tene-ments or hereditaments, of any tenure, whether the object of the gift or limitation of such
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property
which the owner has relinquished all rights NOTE: When property is abandoned, the owner gives up the reasonable expectation of privacy concerning it. The finder of abandoned property is entitled to keep it, and a police officer … pl: -ties [Anglo-French propreté proprieté, from Latin proprietat- proprietas, from proprius own, particular] 1 : something (as an interest, money, or land) that is owned or possessed see also asset, estate, interest, possession abandoned property : property
Shelley's case, Rule in
rule places the whole power over the inheritance in the ancestor, who can partially or totally defeat the expectation of his relation. S. 131 of the (English) Law of Property Act, 1925, enacts:- Where by any instrument … it upon A. at once, whereupon his life estate merges in the remainder, and he takes the entire interest, i.e., the fee-simple. Again: Land is limited to A. for life, remainder to B. for life, remainder in
Constructive trust
land sold for unpaid purchase money, and generally, when an estate is subject to a trust or equitable interest or lien, and a person purchases it for value, with either actual or constructive notice of it, the … and upon the refusal of the lessor to grant a new lease to the cestui que trust or expectant; for such renewed lease is held upon trust for the person beneficially entitled to the old lease or
Interpleader
to each other, for a debt or goods in his hands, but in which he himself has no interest, obtains relief by procuring such parties to try their rights between or amongst themselves only. Where the applicant … Interpleader, the process whereby a person, who is or expects to be sued by two or more parties, claim-ing adversely to each other, for a debt or goods
Lease
property for life, or years, or from year to year or at will, by one who has greater interest in the property. The person granting is called the lessor, who is possessed of the reversion (as to … the rule is made by sub-s. (5) of s. 149, which saves legal terms taking effect in reversion expectant on a larger term. The (English) Law of Property Act, 1925, ss. 51 to 55, reproducing and amending
Stop Order
general credit of any cause, or to the account of any class or classes of persons, assign his interest in such stock or funds, the assignee (although not a party to the cause in which the fund … Stop Order. If any person entitled, in expectancy or otherwise, to any share of any stocks or funds, standing in the name of the Paymaster-General (formerly
Bond
penalty, which is generally double the amount of the principal sum secured, only the sum actually owing, with interest, can be recovered, and in no case can this exceed the amount appearing on the face of the … particular person, whether the obligor be then alive or not, the time of payment being contingent only. See EXPECTANT HEIRS; MONEY -- LENDERS; POST OBIT BOND; USURERS. Bonds to procure marriage (or marriage brokage bonds), or to
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