General Tail - Page 4 - Law Dictionary

Money land

Money land. In equity, land articled or devised to be sold, and turned into money, is considered as money, and money articled or bequeathed to be invested in land, has, inequity, many of the qualities of real estate, and is descendible and devisable as such according to the rules of inheritance in other cases, and this upon the ground that equity regards substance and not form, and will further the intention of parties.By s. 75(5), (English) Settled Land Act, 1925, replacing Settled Land Act, 1882, s. 26 (5), capital money arising under that Act while remaining uninvested or unapplied and investments hereof are for all purposes of disposition, transmission and devolution to be treated as land and shall be held for and go to the same persons successively in the same manner and for and on the same estates, interests and trusts as the land wherefrom the money arises would, if not disposed of, have been held and have gone under the settlement, and see s. 78 (ibid.), as to personal estate s...

Lapse

Lapse [fr. lapsus, Lat.], error; failing in duty.(1) A benefice is said to lapse when the patron does not exercise the right of presentation within six calendar months (182 days) after the avoidance of the benefice, exclusive of the day of the avoidance. In such case there is a devolution of the rights of patronage from a neglectful patron to the bishop as ordinary, to the metropolitan an superior, and to the sovereign as patron paramount of all the benefices in the realm.(2) A device or legacy is said to lapse when the devisee or legatee dies before the testator. In such case the devise or legacy falls into the residuary real or personal estate, as the case may be. If a residuary devise or bequest lapses, the property falls into the intestate estate of the testator, see Easum v. Appleford, (1840) 5 My&Cr 56; Re Whitrod, (1926) 1 Ch 118. If, however, the devisee or legatee should be a child or other issue of the testator, and should die leaving issue surviving at the testator's death, ...

Marriage settlement

Marriage settlement, an arrangement made before marriage, and in consideration of it (the highest consideration known to the law), whereby real or personal property is settled for the benefit of the husband and wife and the issue of the marriage. There is an express saving for such a settlement in s. 19 of the (English) Married Women's Property Act, 1882, and see the (English) Married Women's Property Act, 1907 (7 Edw. 7, c. 1), invalidating a settlement made by a female infant unless confirmed after attaining 21, but without prejudice to settlements under the Infants Settlement Act, 1855 (see post, MARRIED WOMEN'S PROPERTY).Although the policy of the land legislation of 1924 was to assimilate the law of real property to that of personalty as far as possible, marriage settlements of land (not being effected by way of trust for sale), and if providing for infant or for a succession of interests in land or charging land (but in this case subject to the (English) Law of Property Amendment...

Heirloom

Heirloom [fr. h'res, Lat., heir, and geloma, Sax., goods], personal chattels, such as charters, deeds, and evidences of title, coat armor set up in a church, or a tombstone erected there, which go to the heir, together with the inheritance. The ancient jewels of the Crown are heirlooms. Heirlooms strictly so called are now rarely met with. See Williams on personal Property; Co. Litt. 18b, 185b; 2 Bl. Com. 428.The term 'heirlooms' is often applied in practice to the case where certain chattels--for example, pictures, plate, or furniture--are directed by will or settlement to follow the limitations thereby made of some family mansion or estate. But the word is not then employed in its strict and proper sense, nor is the disposition itself beyond a certain point effectual; for the Articles will, in such case, belong absolutely to the first person who, under the limitations of the settlement, becomes entitled to the real estate for a vested estate of inheritance; see Portman v. Viscount Po...

Chattels or catals

Chattels or catals [fr. Catalla, Lat.; chatel, Fr.; chaptel, Old Fr.]. The word 'catalla' among the Normans primarily signified only beasts of husbandry or, as they are still called, cattle, but in a secondary sense the term was extended to all movables and not only to these but to whatsoever was not a fief or feud or, at a later date, in the nature of freehold or parcel of it. The distinction in the class of chattels survives in the legal meaning of the terms, 'personal chattels,' denoting movable property and 'chattels real,' which concern the realty, such as terms of years of lands or tenements, wardships, the interest of tenant by statute staple, by statute merchant, by elegit, and such like, Co. Litt., 118 b.Chattels personal or in a more narrow and more modern sense, 'chattels' (cf. 'goods and chattels' in the writ of fieri facias) (q.v.), means movable property or effects which belong personally to the owner and for which if they are injuriously withheld from him he has, in gene...

Consummation

Consummation, of tenancy by the curtesy is when a husband, upon his wife's death, becomes entitled to hold her lands in fee simple or fee tail, of which she was seised during the marriage, for his own life, provided he has had issue by her, capable of inheriting. His estate becomes initiate upon birth of a child.Consummation, (1) the completion of a thing; (2) the completion of a marriage between wedded persons by cohabitation.Consummation, defined in Black's Law Dictionary, 6th Edn., 'the completion of a thing; the completion of a marriage by cohabitation between spouses', Babu S/o Raveendran v. Babu S/o Bahuleyan, (2003) 7 SCC 37.Consumption, means every fact which it is necessary to establish to support a right or obtain a judgment, Sadanandan Bhadran v. Madhavan Sunil Kumar, (1998) 6 SCC 514.The word consumption in its primary sense means the act of consuming and in ordinary parlance means the use of an article in a way which destroys, wastes or uses up that article. But in some le...

Consumption and use

Consummation, of tenancy by the curtesy is when a husband, upon his wife's death, becomes entitled to hold her lands in fee simple or fee tail, of which she was seised during the marriage, for his own life, provided he has had issue by her, capable of inheriting. His estate becomes initiate upon birth of a child.Consummation, (1) the completion of a thing; (2) the completion of a marriage between wedded persons by cohabitation.Consummation, defined in Black's Law Dictionary, 6th Edn., 'the completion of a thing; the completion of a marriage by cohabitation between spouses', Babu S/o Raveendran v. Babu S/o Bahuleyan, (2003) 7 SCC 37.Consumption, means every fact which it is necessary to establish to support a right or obtain a judgment, Sadanandan Bhadran v. Madhavan Sunil Kumar, (1998) 6 SCC 514.The word consumption in its primary sense means the act of consuming and in ordinary parlance means the use of an article in a way which destroys, wastes or uses up that article. But in some le...

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...

Liberum tenementum

Liberum tenementum, a frank tenement or freehold. The plea of liberum tenementum, commonly pleaded by the defendant in an action of trespass, was the only case of usual occurrence in more modern practice, in which the allegation of a general freehold title in lieu of a precise allegation of title was sufficient. It was sustained by proof of any estate of freehold, whether in fee, in tail, or for life only, and whether in possession or expectant on determination of a term of years, but it did not apply to the case of a freehold estate in remainder or reversion, expectant on a particular estate of freehold, nor to copyhold tenure, Stephen on Pleading, 7th Edn. 257. Obsolete. See now PLEADING....

Mortgage

Mortgage [fr. mort, Fr., dead, and gage, pledge], a deed pledge; a thing put into the hands of a creditor.A mortgage is the creation of an interest in property, defeasible (i.e., annullable) upon performing the condition of paying a given sum of money, with interest thereon, at a certain time. This conditional assurance is resorted to when a debt has been incurred, or a loan of money or credit effected, in order to secure either the repayment of the one or the liquidation of the other. the debtor, or borrower, is then the mortgagor, who has charged or transferred his property in favour of or to the creditor or lender, who thus becomes the mortgagee. If the mortgagor pay the debtor loan and interest within the time mentioned in a clause technically called the proviso for redemption, he will be entitled to have his property again free from the mortgagee's claim; but should he not comply with such proviso, the legal estate becomes perfected in the mortgagee, i.e., indefeasible, and so los...

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