Leasehold - Law Dictionary Search Results
Home Dictionary Name: leaseholdLeasehold
Leasehold, a chattel, interest and a dependent tenure derived either from a freehold, leasehold or (before 1926) copyhold or larger leasehold estate. See LEASE and TERM OF YEARS ABSOLUTE....
Leasehold value
Leasehold value, means the value of a leasehold interest. This term usu. applies to a long-term lease when the rent paid under the lease is lower than current market rates. Some states permit the lessee to claim the leasehold interest from the landlord in a condemnation proceeding unless, the lease prohibits such a claim. Other states prohibit these claims by statute, Black's Law Dictionary, 7th Edn., p. 900....
leasehold
leasehold : a tenure of real property held by a lessee under a lease : a lessee's estate in the property ;also : the property so held compare fee, freehold ...
leasehold mortgage
leasehold mortgage see mortgage ...
leasehold insurance
leasehold insurance : insurance against loss to a lessee (as of profits derived from a sublease) because of cancellation of a lease as a result of fire or other specified peril ...
Registration of title of land
Registration of title of land. The (English) Land Registration Act, 1925 (15 Geo. 5, c. 21), repeals and re-enacts the (English) Land Transfer Acts, 1875 (38 & 39 Vict. c. 87) and 1897 (60 & 61 Vict. c. 65), with amendments in keeping with innovations which were introduced by the property laws of 1925. Its object is to simplify the indicia of land ownership and transfer by mere inscription and transcription in a register. The advantages which are claimed for the system are (a) purchasers for value of an absolute or good leasehold title are absolved from any inquiry into the title other than it is shown to be on the register; (b) certain equitable claims which would be binding on the land under the general law and cannot be removed or over-reached without onerous formalities do not affect such purchasers; (c) the method of conveyance or charge is simple; (d) subject to the statutory provisions, registration guarantees the title to purchasers for value and mortgagees. It should be observ...
Attendant term
Attendant term. Terms for years in real property are created for many purposes, e.g., to furnish money for the payment of debts, to secure rent charges or jointures, to raise portions for younger children, daughters, etc. Now, although the purpose for which the term was originally created has been satisfied or has failed, yet, not being surrendered, it continued to exit, the legal interest remaining in the trustees, to whom it was at its creation limited, or, if deceased, in their personal representatives; but the person entitled to the inheritance then became, according to equitable principle, entitled to the beneficial interest in such term, and the term or was held to be such person's trustee. This beneficial interest was subordinate to and merely attendant upon the higher estate possessed by the owner of the inheritance, and yet completely consolidated with it, following the inheritance in all the various modifications and changes to which it might be subjected by act of law or arr...
Merger
Merger [fr. mergo, Lat., to sink], an annihilation, by act of law, of a particular in an expectant estate consequent upon their union in the same person without an intervening estate in another person--thus accelerating into possession the expectant which swallows up the particular estate. It is the drowning of one estate in another, and differs from suspension, which is but a partial extinguishment for a time; while extinguishment, properly so termed, is the destruction of a collateral thing in the subject itself out of which it is derived. 'In order that there may be a merger, the two estates which are supposed to coalesce must be vested in the same person at the same time and in the same right' [Re Radcliffe, (1892) 1 Ch 231, per Lindley, LJ]. An estate tail, however is an exception to the rule; for a man may have in his own right both an estate tail and a reversion in fee; and the estate tail, though a less estate, will not merge in the fee, 2 Bl. Com. 177.The doctrine of merger pr...
Reversion
Reversion [fr. revertor, Lat.], that portion left of an estate after a grant of a particular portion of it, short of the whole estate, has been made by the owner to another person. it is thus described by Mr. Watkins (Conv. C. 16): 'When a person has interest in lands, and grants a portion of that interest, or in other terms, a less estate than he has in himself, the possession of those lands shall, on the deter-mination of the granted interest or estate, return, or revert to the grantor. This interest is what is called the grantor's reversion, or more properly, his right of reverter, which, however, is deemed an actual estate in the land, bearing the fruits of seigniory. Thus a grant to an estate by the owner of the fee-simple: to A. for life,' leaves in the grantor the reversion in fee-simple, which will commence in possession after the determination of A.'s life-estate; and this is called the particular estate; particular, as carved or sliced out of the larger estate or reversion.'S...
Tenancy
Tenancy [fr. tenentia, law Lat.], the condition of a tenant; the temporary possession of what belongs to another by his consent.1. The possession or occupancy of land by right or title esp. under a lease a leasehold interest in real estate 2. The Period of such possession or occupancy, Black's Law Dictionary, 7th Edn.Tenancy, is a heritable right unless a legal bar operating against heritability is shown to exist, Parvinder Singh v. Renu Gautam, (2004) 4 SCC 794.Tenancy, is a relationship between a landlord and a tenant and that relationship is in respect of a subject-matter, AIR 2006 NOC 272 (Bom).Means the possession or occupancy of land by right or title, especially under a lease, a leasehold interest in real estate, Black's Law Dictionary, 7th Edn., p. 1477...
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