Limited Owner - Law Dictionary Search Results
Trustee
Trustee, is the legal owner of the property the actual owner thereof having lost title thereto by the creation of a trust. The equitable ownership in the trust property vests in the beneficiaries. The trust is thus an incidence of dual ownership in which the creator of the trust no longer figures, Baba Badri Dass v. Dharma, AIR 1982 P&H 255.Means one who, having legal title to property, holds it in trust for the benefit of another and owes a fiduciary duty to that beneficiary, Black's Law Dictionary, 7th Edn., p. 1519.Trustee, one entrusted with property for the benefit of another, called beneficiary, or cestui que trust. See also PUBLIC TRUSTEE; BREACH OF TRUST.Consult Lewin or Godefroi on Trusts.'Trustee' means any person, by whatever desig-nation known, appointed to administer a religious trust either verbally or by or under any deed or instrument or in accordance with the usage of such trust or by the District Judge or any other competent authority, and includes any person appointe...
Superfluous lands
Superfluous lands, lands acquired by a public company under the (English) Lands Clauses Consolidation Act, 1845 (8 & 9 Vict. c. 18), but not required for the purposes of the undertaking of the company. Such lands must, by ss. 127 and 128 of the Act, be sold within ten years after the time limited for the completion of the undertaking, the person entitled to the lands from which they were originally severed, or, if he refuse, the adjoining owners, having a right of pre-emption; and if the lands are not so sold, they vest in the adjoining owners.The town and (English) Country Planning Act, 1932, 3rd Sch., excepts the operation of ss. 127 to 132 of the L.C.C. Act, 1845, from purchases under the Act of 1932, and see Housing Act, 1936. The law of this subject has given rise to much litigation, the leading case being Great Western Railway Company v. May (1874) LR 7 HL 283. See also Dunhill v. N.E. Ry Co., (1896) 1 Ch 121; and A.G. v. Sunderland Corporation, (1930) 1 Ch 168....
Squatter
Squatter, a squatter is one who settles or locates on land enclosed with no bona fide claim or color of title and without the consent of the owner, AIR 1968 Punj 470 (473). (Motor Vehicles Act, 1939, s. 76)If a squatter wrongfully encloses a bit of waste land, and builds a hut on it, and lives there, he acquires an estate in fee-simple by his own wrong iin the land which he has enclosed. He may, of course, be turned out by legal process until his title is confirmed by the Statute of Limitations; but as long as he remains he has an estate in fee-simple: Williams on Seisin, p. 7. It has even been held that he will be bound by the restrictive covenant of a former owner even after he has acquired a statutory title, Re Nisbet and Pott's Contract, (1906) 1 Ch 386.1. A person who settles on property without any legal claim or title 2. A person who settles on public land under a government regulation allowing the person to acquire title upon fulfilling specified conditions, Black's Law Diction...
Rent
Rent [fr. reditus Lat.], a certain profit issuing yearly out of lands and tenements corporeal; it may be regarded as of a two fold nature--first, as some-thing issuing out of the land, as a compensation for the possession during the term; and secondly, as an acknowledgment made by the tenant to the lord of his fealty or tenure. It must always be a profit, yet there is no necessity that it should be, as it usually is, a sum of money; for spurs, capons, horses, corn, and other matters, may be, and occasionally are, rendered by way of rent; it may also consist in services or manual operations, as to plough so many acres of ground and the like; which services, in the eye of the law, are profits. The profit must be certain, or that which may be reduced to a certainty by either party; it must issue yearly, though it may be reserved every second, third, or fourth year; it must issue out of the thing granted, and not be part of the land or the thing itself.Consideration paid, usu. periodically...
Demurrage
Demurrage, a term used in commercial navigation, signifying on allowance made to the owners of a ship by the freighter, for detaining her in port longer than the period agreed upon for her sailing. It is usually stipulated in charter-parties and bills of lading, that a certain number of days, called running or working or lay days, shall be allowed for receiving or discharging the cargo, and that the freighter may detain the vessel for a further specified time, or as long as he pleases, on payment of so much per diem for such overtime. When the contract of affreightment expressly stipulates that so many days shall be allowed for discharging or receiving the cargo, and so many more for overtime or demurrage days, such limitation is interpreted as an express stipulation on the part of the freighter that the vessel shall in no event be detained longer; if detained the charterer, is liable for damages for breach of contract for which the rate of demurrage is generally the measure. This hold...
Copyright
Copyright, an incorporeal right, being the exclusive privilege of printing, reprinting, selling, and publishing is own original work which the statute law first gave to an author in 1709, by 8 Anne, c. 19, for the term of fourteen years. Whether the right exited at Common Law is a long-vexed and still undetermined question. See Jeffries v. Boosey, (1854) 4 HLC 815. There is no copyright in an illegal or immoral publication, Southey v. Sherwood, (1817) 2 Mer 435; Stockdale v. Onwhyn, (1826) 5 B&C 173.The law of copyright now depends mainly on the (English) Copyright Act,1911 (1 & 2 Geo. 5, c. 46) (July 1, 1912), and 'no person shall be entitled to copyright or any similar right in any literary dramatic, musical, or artistic work, whether published or unpublished, otherwise than under and in accordance with the provisions of this Act, or of any other statutory enactment for the time being in force' (s. 31).By sub-s. 2 of s. 1 of this Act 'copyright' is thus defined:--For the purposes of ...
Compensation
Compensation, according to dictionary it means, 'compensating or being compensated; thing given as recompense;'. In legal sense it may constitute actual loss or expected loss and may extend to physical mental or even emotional suffering, insult or injury or loss, Ghaziabad Development Authority v. Balbir Singh, (2004) 5 SCC 65 (75): AIR 2004 SC 2141.--Making things equivalent, satisfying or making amends, a reward for the apprehension of criminals; also that equivalent in money which is paid to the owners and occupiers of lands taken or injuriously affected for public purposes and under Act of Parliament, e.g., the (English) Lands Clauses Consolidation Act, 1845 (8 & 9 Vict. c. 18), but where the land is acquired compulsorily by a Government Department or any local or Public Authority the compensation is regulated by the (English) Acquisition of Land (Assessment of Compensation) Act, 1919 (9 & 10 Geo. 5, c. 57) and Rules of 1919, and see Housing Act, 1936, ss. 40 and 42 and Schedules, ...
Boundaries
Boundaries are the lines marking the division between two adjacent territories. The boundary may be (a) physical, or (b) national and supported by documentary or other evidence. (a) may consist of walls, fences, hedges or ditches, and the presumption is that the outer line along the top line of the ditch bank furthest from the hedge marks the boundary of the land on which the hedge, if any, is erected, because the owner of the soil would be presumed to throw up the soil on the his own land for the hedge, but this presumption may be rebutted. Simple fences or ditches and walls frequently belong to the owners of both properties in common, see PARTY WALL.Physical boundaries may also be roads or non-tidal streams, see Ad medium fil', or the sea or tidal rives, in which case the high-water mark of medium tides is presumed to be the boundary. Williams Real Property, 23rd Edn., p. 463. (b) Unmarked or imaginary boundaries are generally ascertained by reference to maps or plans, or by descript...
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...
title
title [Anglo-French, inscription, legal right, from Old French, from Latin titulum inscription, chapter heading, part of the law that sanctions an action] 1 a : the means or right by which one owns or possesses property ;broadly : the quality of ownership as determined by a body of facts and events after-acquired title : title that vests automatically in a grantee when acquired by a grantor who purported to sell the property before acquiring title ;also : a doctrine that requires such vesting compare estoppel by deed at estoppel NOTE: The doctrine of after-acquired title generally does not apply when the grantor receives title by quitclaim deed; to vest title in the grantee the deed must include words expressing such an intention. clear title : title that exists free of claims or encumbrances on the property [had clear title to the farm] ;broadly : marketable title in this entry equitable title : title vested in one who is considered by the application of equitable principl...
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