Owner S Equity - Law Dictionary Search Results
Priority
Hall. In regard to mortgages: before 1926, puisne mort-gagees to whom the equity of redemption was conveyed in succession obtained priority by the order in … determined accord-ing to the date of receipt of notice by the persons who are for the time being owners of the legal interest in the property assigned. Before 1926 the notice might be verbal; after 1926 it … another less ancient; also that which is before another in order of time. As to priority among creditors, see (English) Admin-istration of Estates Act, 1869, reproduced by ss. 32 to 34, (English) Administration of Estates Act, 1925,
Partition
Copyhold Act, 1894. With a view to the more convenient and perfect partition or allotment of the premises, equity frequently decreed a pecuniary compensation to one of the parties for 'owelty,' i.e., equality of partition, so as … Partition, is mitakshara 'partition' may be only severance of the joint status of the members of the coparcenary, that it to say, what was once a
Lien
lien does not import a right of sale. Sometimes a Court of Equity has decreed a sale as a part of its own system of … lien it is essential that the person through whom it is acquired should himself either have the absolute ownership of the property, or at least a right to vest it; for nemo plus juris ad alium transferre … that which is in his possession belonging to another, until certain demands of the person in possession are satisfied. It is neither a jus in re, nor a jus ad rem--i.e., it is not a right of
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trust
except that it invests in real estate either as an owner having equity in the property or as a lender holding mortgages on the property … child, who was in a lower tax bracket. Under the current rules, the settlor is treated as the owner of any portion of a trust in which he or she has a reversionary interest, and therefore taxes … 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
Abstract of title
opinion of the precise state of the title at Law and in Equity, together with all chances of eviction or even of adverse claims. At … FOR SALE; UNDIVIDED SHARES; EQUITABLE INTERESTS, BANKRUPTCY and VESTING ORDERS. Abstracts on behalf of vendors who are absolute owners entitled in fee simple in possession are not exceptionally affected by legislation under these heads except so far … Abstract of title. A concise statement, usually prepared for a mortgagee or purchaser of real property, summarising the history of a piece of land
Title
the means whereby the owner of lands has the just possession of his property--titulus est justa causa pos sidendi id quod nostrum est: Co. Litt. 345b. 1. The union of all elements (as ownership, possession, and custody) … property contracted for will become vested in the purchaser free from any equity which would be capable of being over-reached by a disposition in trust … Title, means the union of all elements (as ownership possession, and custody) constituting the legal right to control and dispose of property; the legal link between a
Infant
settlement or trust or become mortgagee of a legal estate (ss. 19 and 20, ibid.), or an estate owner of settled land (Settled Land Act, 1925, ss. 26 and 27), but a married infant can give receipts … existing or future statute, or by the rules of Common Law or Equity, enter, except such as now by law are voidable. 2. No action … Infant [fr. infans, Lat., one who cannot speak], a person under twenty-one years of age, whose acts are in many cases either void or voidable. See
Limitation of actions and prosecutions
there is a discontinuance, i.e., interim during which no one enters or is paid the rent, the rightful owner regains his cause of action until a statutory limitation is completed against him from the date of the … of the statutes and general law affecting the limitation of actions. In equity, the rule has been, that, although the statute 21 Jac. 1, c. … Limitation of actions and prosecutions. By various statutes, of which the first was 21 Jac. 1, c. 16, the (English) Limitation Act, 1623, and the principal
Joint-tenancy
the machinery by which legal estate may in such cases always be in some person, called the estate owner, who is competent to give a title to the whole estate without the concurrence of other parties. that … to admits as referring to the incidents, both at law and in equity, in regard to all titles existing before 1926, and to equitable interests … Joint-tenancy. This tenancy is created where the same interest in real or personal property is, by the act of the party, passed by the same matter
Uses
which property is to be held. The Common Law treated the actual possessor for all purposes as the owner of the property. It was not difficult to find him out, since the possession of his estate was … possessor for all purposes as the owner of the property. It was not difficult to find him out, since the possession of his estate was conferred upon him by a formal and notorious ceremony, technically called livery … tenant of the fee. (8) A use, being but the creature of equity, could not have been taken in execution for the debts of the
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