Future Interest - Law Dictionary Search Results
statutory rule against perpetuities
statutory rule against perpetuities :a statute setting forth the requirements for the vesting of a future interest in property and superseding the common-law rule against perpetuities ;esp : a uniform statute invalidating a future interest … future interest in property and superseding the common-law rule against perpetuities ;esp : a uniform statute invalidating a future interest in property that is not certain to vest or terminate within a life in being plus 21 years
Real Property Act, 1845
more (see FRAUD), and all assignments and surrenders of leases must be by deed. A contingent executory and future interest in land and a possibility coupled with an interest in land, and a right of entry whether immediate,
Reversion
in the freehold or leasehold reversion, which together may form a legal estate subject to the term. A future interest in land arising by operation of law whenever an estate owner grants to another a particular estate, such
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Obligor
to pay a financial asset or to discharge any obligation in respect of a financial asset, whether existing, future, con-ditional or contingent and includes the borrower. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest
Vested interest
Matched in: Term Vested interest
Limitation of actions and prosecutions
of the same Act in the case of claimants entitled to particular interests (in remainder, reversion or other future estate or interest) the right to recover land etc., is limited to six years from the time when
Executed contract
or to do an act on or before some future day, or to lend money upon a certain interest, payable at a future time. … delivered, and payment therefor is made on the spot. a contract is said to be executory where some future act is to be done, as where an agreement is made to build a house in six months,
Voluntary conveyance
settle future property on persons within that consideration if, as regards the future property, the settlor had no interest in it at the time, or if either the money or property was not money or property in … the trustee of the settlement at that time. (2) Any agreement in consideration of marriage to make a future payment to or to settle future property on persons within that consideration if, as regards the future property,
Contract
or to do an act on or before some future day, or to lend money upon a certain interest payable at a future time. There is also another distinction, namely, that between entire and severable contracts. An … an article is sold and delivered, and payment for it is made on the spot; executory, where some future act is to be done; as where an agreement is made to build a house in six months,
reversion
that will commence in possession by operation of law upon termination of the lesser estate b : the future interest in property left in a grantor or his or her successor in interest that is not subject to
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