Personal Estate - Law Dictionary Search Results
Trust for sale
Trust for sale. Trusts for sale of land were commonly crated in settlements and well-drawn wills. The effect was to convert realty into personalty so that the proceeds devolved upon the beneficiaries as personalty unless they elected to take the property as realty (see CONVERSION), except that upon a lapse of the devise of realty in the testator's lifetime the property resulted to the heir-at-law, Ackroyd v. Smithson, (1780) 1 Bro CC 503. Another and more practical consequence was that the whole estate was vested as a rule in the trustees so that with or without consent of any other person as directed by the donor or testator they could vest the whole estate in a purchaser without his seeing to the application of the purchase money (Trustee Act, 1893, s. 14), and without participation of beneficiaries whose consent was not required, thus providing an expedient, which, together with the Settled Land Acts and other statutes giving analogous powers to mortgagees, personal representatives ...
Intestates Estates Act, 1890 (English)
Intestates Estates Act, 1890 (English) (53 & 54 Vict. c. 29), repealed and not re-enacted by the A.E. Act, 1925, in the case of persons dying intestate after 1925. See WIDOW. By the Act of 1890 the real and personal estate of every man dying wholly intestate after September 1, 1890, leaving a widow but no issue, is directed to belong to his widow if the net value should not exceed 500l., while if it should exceed 500l. the widow obtains 500l and a charge upon the whole of the estate for that term, in addition to her interest and share in the remainder of the estate, 'with interest thereon from the date of the death of the intestate, at 4 per cent. per annum until payment.' As to the meaning of 'intestate,' see Re Cuffe, (1908) 2 Ch 500.As to Scotland, see the Intestate Husband's Estate (Scotland) Act, 1911 (1 & 2 Geo. 5, c. 10), as amended by 9 & 10 Geo. 5, c. 9, which is framed on the lines of the English statute...
Intestates Estates Act, 1884 (English)
Intestates Estates Act, 1884 (English) (47 & 48 Vict. c. 71), ss. 2 and 3, whereby administration for the Crown of the personal estate of an intestate is conducted on similar principles to those of an ordinary administration. The sections have been reproduced and amended by ss. 30 and 57, A.E. Act, 1925. The other provisions of the Intestates Estates Act,1884 (except s. 55), have been repealed by the A.E. Act, 1935. By the repealed s.s, when a person died intestate and without an heir, his estate, legal or equitable, in any incorporeal hereditament, and any equitable estate in any corporeal hereditament, escheated to the Crown. Provision was also made for the waiver of the rights of the Crown in certain cases. See ESCHEAT....
Confirmation
Confirmation, a species of conveyance by which a voidable estate is made valid and unavoidable, or by which a particular estate is increased. Estates which are void cannot be confirmed, but only those which are voidable, Watkin's Conv. 321. A confirmation may make a voidable or defeasible estate good, but it cannot work upon an estate that is void at law, Co. Litt. 295 b.Confirmation in Scotland is the ratification by a competent Court of an appointment of executors, and confers a title to uplift, administer, and dispose of the personal estate of the deceased. When the appointment of the executor has been made by the deceased, the appointee is called an executor-nominate and the confirmation a testament testamentor. When the appointment has been made by the Court, the appointee is called an executor-dative, and the confirmation a testament-dative....
Base fee
Base fee. A species of inheritable freehold estate which forms part of the class of estates known as conditional freeholds of inheritance. In a more special sense, a base fee was until 1926 a fee simple determinable on the failure of issue of an original donee of the estate in tail. It was limited by the failure of the heirs of the body of that donee to take, and upon that failure the persons next entitled in remainder became entitled to the remainder in tail or in fee simple, as the case might be. As where a tenant-in-tail, with remainder to a stranger, conveys the fee-simple to another in the property entailed upon him, such other takes a qualified fee by legal construction, determinable on the death of the tenant-in-tail and failure of the issue under the entail. Another example of such an estate is when a tenant-in-tail, not being himself entitled to the immediate remainder or reversion in fee, conveys without the consent of the protectors of the settlement; he then transfers a bas...
Release
Release [fr. relaxtio, Lat.], a gift, discharge, or renunciation of a right of action (see SURETY CON-SIDERATION); also a Common Law conveyance of a larger estate, or a remainder, or reversion to one already in possession, the operative verb in which is 'release'; hence the name. It operates or inures in five modes:-(a) By passing an estate to one or more already in possession (mitter l'estate), as where a coparcener conveys his estate to his coparcener, or where one of more than two joint tenants conveys his interest to one or more but not all of the others so as to sever that share. It also operates without mitter l'estate where one joint tenant releases his estate to the other, or all the other joint tenants so as not to create a severance. See Halsbury, L. of E., tit. 'Release.' In consequence of the privity between such parties, a fee-simple will pass without any words of limitation. Tenants in common, however, could not thus release to one another, since they had distinct interes...
Frater fratri uterino non succedet in h'reditate paterna.
Frater fratri uterino non succedet in h'reditate paterna.--(A brother shall not succeed a uterine brother in the paternal inheritance.)The maxim is now superseded; for by the Inheritance Act, 1833 (3 & 4 Wm. 4, c. 106), s. 9, the half-blood inherit next after any relation in the same degree of the whole blood and his issue where the common ancestor is a male, and next after the common ancestor where a female, so that the brothers of the half-blood, on the part of the father, inherit next after the sisters of the whole blood on the part of the father and their issue, and the brothers of the half-blood on the part of the mother inherit next after the mother.This rule still applies in regard to (a) the devolution of entailed interests in real or personal property (Law of Property Act, 1925, s. 130 (4), and Law of Property (Amend.) Act, 1924, 9th Sched.), (b) the ascertainment of heirs as purchasers under limitations by deed or will coming into operation after 1925 under s. 132, ibid., and...
Equity of redemption
Equity of redemption. Before 1926 the equitable estate or interest left in a person after he had mortgaged his property. Now the right to call for a reconveyance of a legal estate or of an equitable interest in property from the mortgagee on payment of principal, interest and costs. A mort-gagee, although he has become absolute owner of a legal estate in the mortgaged property, on account of the breach of the condition for repayment of the loan within the strict time, is nevertheless compelled to reconvey the legal estate to the mortgagor, who applies to redeem it, on payment of the principal, interest, and costs, Equity treating the breach of the condition as a penalty, and the retention for the mortgagee's own benefit of that which was intended simply as a pledge, as contrary to substantial justice.The right or equity of redemption is an essential attribute of a mortgage; it is inherent in the thing itself, and any provision inserted in the mortgage to defeat the right is void as a '...
Que estate
Que estate [quorum statum, Lat.], as much as to say, whose estate he has. Where prescriptive rights are claimed by reason of the continuous and immemorial enjoyment thereof by the claimant, a person seised in fee, and by all those whose estate he has, this is called a prescription in a que estate. The phrase is taken from the Norman French: that he, and all those whose estate he has, have from time immemorial enjoyed the right-tous ceus que estate il ad.-Williams on Rights of Common, p. 16. A person cannot prescribe in anything by a que estate that lies in grant, and cannot pass without deed or fine; but in him and his ancestors he may, because he comes in by descent without any conveyance, Co. Litt. 121 a; 2 Bl. Com. 264; 2 Br. & Had.Com. 419. A prescription in a que estate for a profit a prendre in alieno solo without stint and for commercial pur-poses is unknown to the law, Harris v. Chesterfield (Earl), 1911 AC 623. See PRESCRIPTION....
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, ...
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