Inter Vivos - Law Dictionary Search Results
Home Dictionary Name: inter vivos Page: 2 Page 2 of about 28 results (0.004 seconds)Accounts duties
Accounts duties. Duties first made payable by the (English) Customs & Inland Revenue Act, 1881 (44 & 45 Vict. C. 12), s. 38, at the same rates as the Probate Duties, upon a donatio mortis causa (q.v.); upon the gift inter vivos of a donor dying within three months; on joint property voluntarily so created and taken by survivorship; and on property taken under a voluntary settlement in which the settlor had reserved a life interest. These duties were in name superseded by the 'Estate Duty' imposed by the (English) Finance Act, 1894 (57 & 58 Vict. C. 30), the property chargeable under the (English) Customs & Inland Revenue Act, 1881, s. 38, being included in the classes of property deemed by the (English) Finance Act, 1894, to 'pass' by death and thus chargeable with the new 'Estate Duty' and the original provisions affecting gifts inter vivos, voluntary settlements, etc., have been considerably amended by subsequent legislation. See ESTATE DUTY....
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also beneficiary, cestui que trust, corpus declaration of trust at declaration, principal, settlor NOTE: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted...
Settled land
Settled land. For the purposes of the (English) Settled Land Acts, 1882-1890, 'settled land' meant land, and any estate and interest therein, which was the subject of a settlement; and 'settlement' meant any instrument, or any number of instruments, under which any land, or any estate or interest in land, 'stands for the time being limited to or in trust for any persons by way of succession' (Settled Land Act, 1882, s. 2) (see infra for the statutory definitions in the Settled Land Act, 1925, which has repealed the S.L. Acts, 1882-1890). Where the settlement consists of more instruments than one it is commonly called a 'compound settlement,' though this term is not defined in the Acts themselves; as to compound settlements, see Re Du Cane & Nettlefold, (1898) 2 Ch 96; Re Munday & Roper, (1899) 1Ch 275; Re Lord Wimborne & Browne (1904) 1 Ch 537; Wolstenholme & Cherry, Conveyancing, etc., Acts.Prior to 1856 settled estates could not be sold or leased except under the authority of some po...
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....
Succeeded by another person
Succeeded by another person, the expression 'succeeded by another person' in s. 26(2) and s. 25(4) of the Income Tax Act, 1922 includes not only cases of succession inter vivos but also cases of succession on death, Executors of the Estate of Lt. Commr. J.K. Dubash v. Commissioner of Income Tax, AIR 1951 SC 111: (1950) SCR 969....
Springing use
Springing use, a form of use in the nature of an executory interest directing property inland to vest at a future period which does not coincide with the termination of a legal estate at common law, for instance. In conveyances before 1926, upon a grant by X. To B. to the use of A. (an infant) in fee attaining twenty-one years of age, the use results to the settlor until, if ever, the period arrives and a good legal estate was conferred upon A. attaining that age by virtue of the statute. The use may be contingent as in that case, or vested, as grant to B. to the use of A. in fee upon the death of C., a stranger. If the grant defeats a previous legal estate and is not capable of being construed as a vested or contingent remainder, it may operate as a shifting use. Springing and shifting uses were resorted to in order to facilitate freedom of grant or conveyance of the legal estate inland by virtue of the Statute of Uses. Grants which would have created springing or shifting uses if the...
Gift Tax Act and Estate Duty Act
Gift Tax Act and Estate Duty Act, between the Gift Tax Act and the Estate Duty Act there is basic difference in that the tax effect in the first ison transaction inter vivos and in the second onthe generating source of transmission by death, Controller of Estate Duty v. Shri Kantilal Trikamlal, AIR 1976 SC 1935 (1946): (1976) 4 SCC 643: (1977) 1 SCR 9...
Gift
Gift. The old text-writers made a gift (donatio) a distinct species of deed, and describe it as a conveyance applicable to the creation of an estate-tail; while a feoffment they strictly confine to the creation of a fee simple estate. The operative verb was 'give,' which no longer implies any covenant in law (Real Property Act, 1845 (8 & 9 Vict. c. 106), s. 4), replaced by the Law of Property Act, 1925, s. 59(2), and the deed required livery of seisin. It is obsolete. See Jac. Law Dict.A gift is now understood to mean a mere voluntary assurance or transfer of property without any consideration being given for it. Such a transaction is apt to be very jealously scrutinized in a Court of Equity, and will be set aside on proof of undue influence (see that title), or of a fiduciary relationship of the donee to the donor, see Huguenin v. Baseley, (1806-8) 14 Ves 273; W. & T. L.C.; Morley v. Loughman, (1893) 1 Ch 736 (757); Lyon v. Home, (1868) LR 6 Eq 655. In the absence of any such objectio...
Conveyance
Conveyance, an instrument which transfers property from one person to another, defined for the purposes of the Law of Property Act, 1925, s. 205, as including 'mortgage charge, lease, assent, vesting declaration, vesting instrument, disclaimer, release and every other assurance of property or of any interest therein by any instrument, except a will.' See CONVEYANCING ACT; DEED; LAW OF PROPERTY; TRUSTS.Includes a conveyance on sale and every instrument by which property, whether movable or immovable, is transferred inter vivos and which is not otherwise specifically provided for by Schedule I. [Indian Stamp Act, 1899 (2 of 1899), s. 2 (10)]Includes a vessel, an aircraft and a vehicle. [Customs Act, 1962 (52 of 1962), s. 2 (9)]Means a conveyance of any description whatsoever and includes any aircraft, vehicle or vessel. [Narcotic Drugs and Psychotropic Substances Act, 1985 (61 of 1985), s. 2 (viii)]Means any vehicle, vessel, aircraft or any other means of transport including any animal. ...
collation
collation [French, from Latin collatio bonorum (in Roman law) contribution made by emancipated heirs to an estate under an intestate succession, literally, bringing together of goods] in the civil law of Louisiana : the actual or supposed return of goods to the mass of the succession that is made by an heir who received property in advance for the purpose of having the property divided with the rest of the succession compare hotchpot NOTE: Children and grandchildren of a decedent must return anything that they received in advance by donation inter vivos. Further, they cannot claim legacies made to them unless made expressly by the decedent as an advantage over their coheirs to be received besides their portion of the succession. Donations made to a grandchild by a grandparent during the life of the child's father are not subject to collation. A collation may be made in kind by the actual delivering up of the thing given, or by taking less from the succession in proportion to the v...
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