Qualified Ownership - Law Dictionary Search Results
Home Dictionary Name: qualified ownership Page 1 of about 15 results ( seconds)qualified ownership
qualified ownership see ownership ...
ownership
ownership : the state, relation, or fact of being an owner ;also : the rights or interests of an owner [reduced their by one third] absolute ownership : ownership esp. by a single person that is free of any encumbrances or limitations other than statutory law compare fee simple absolute at fee simple os·ten·si·ble ownership [Ä -sten-sə-bəl] : ownership that is apparent rather than actual and that sometimes is recognized in cases of purchase of the property by an innocent third party [a dispute arising from the dealer's ostensible ownership and sale of the collateral] NOTE: A purchaser from a person with ostensible ownership of property may be able to defeat the claim to the property of the actual owner who created the ostensible ownership. ownership in in·di·vi·sion in the civil law of Louisiana : ownership by two or more persons each having undivided shares in the property as a whole compare community property at property NOTE: Own...
Limited owner
Limited owner. A tenant for life, in tail or by the courtesy, or other person not having a fee-simple in his absolute disposition. The legal estates of limited owners were reduced to equitable interests after 1925 by the (English) Law of Property Act, 1925, ss. 1 and 4. See SETTLED LAND.Limited owner commonly means a person with restricted rights as opposed to full owner with absolute rights. In relation to property absolute, complete or full ownership comprises various constituents such as the right to possess, actual or constructive, power to enjoy, that is to determine manner of use extending even to destroying, right to alienate, transfer or dispose of etc. Any restriction or limitation on exercise of these rights may result in limited or qualified ownership, Kalawatibai v. Soiryabai, AIR 1991 SC 1581 (1589): (1991) 3 SCC 410....
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...
absolute
absolute 1 a : free from qualification, condition, exception, or restriction [rights that even seem have these qualifications "Long v. Rockwood, 277 U.S. 142 (1927)"] see also absolute ownership at ownership compare qualified b in the civil law of Louisiana : having or allowing no legal effect [an impediment] 2 : final and not liable to modification sometimes used after the word it modifies [divorce ] compare nisi ab·so·lute·ly adv ...
Qualified property
Qualified property, an ownership of a special and limited kind. It may arise either from the peculiar circumstances of the subject-matter, which render it incapable of being under the absolute dominion of any proprietor, as in the case of animals fer' natur', or from the peculiar circumstances of the possessor, as in the case of a bailment. See BAILMENT and POSSESSION....
justify
justify -fied -fy·ing vt 1 : to prove or show to be just, right, or reasonable [does not a denial of bail] 2 : to show to have had a legally sufficient reason or cause [a defendant may not set up his own standard of conduct to or excuse himself "State v. Doss, 568 P.2d 1054 (1977)"] vi 1 : to show a legally sufficient reason for an act 2 : to swear an oath as to the ownership of sufficient property [they shall in an amount no less than $200 "Oregon Revised Statutes"] ;also : to qualify as a surety by swearing such an oath [the defendants sought to as bail "State v. Blaisdell, 253 A.2d 341 (1969)"] ...
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...
Property
Property, an actionable claim against the tenants is undoubtedly a species of property which is assignable, State of Bihar v. Kameshwar Singh, AIR 1952 SC 252.Comprises every form of tangible property, even intangible, including debts and chooses in action such as unpaid accumulation of wages, pension, cash grants, and constitutionally protected privy purse, See M.M. Pathak v. Union of India, AIR 1978 SC 802.Decree is to be treated as property, Associated Hotels of India v. Jodha Mal Kuthiala, AIR 1950 Punj 201.Every movable property is included in the ordinary connotation of the word 'property', Chunni Lal v. State, AIR 1968 Raj 70.In commercial law this may carry its ordinary meaning of the subject-matter of ownership. But elsewhere, as in the sale of goods it may be used as a synonym for ownership and lesser rights in goods, Dictionary of Commercial Law by A.H. Hudson, (1983, Edn.).In Entry 42, List III (Constitution of India) includes the power to legislate for acquisition of an un...
property
property pl: -ties [Anglo-French propreté proprieté, from Latin proprietat- proprietas, from proprius own, particular] 1 : something (as an interest, money, or land) that is owned or possessed see also asset, estate, interest, possession abandoned property : property to which the owner has relinquished all rights NOTE: When property is abandoned, the owner gives up the reasonable expectation of privacy concerning it. The finder of abandoned property is entitled to keep it, and a police officer may take possession of abandoned property as evidence without violating the Fourth Amendment to the U.S. Constitution. after-acquired property 1 : property (as proceeds) that a debtor acquires after the commencement of a bankruptcy case and that is usually considered part of the bankruptcy estate 2 : property acquired after the perfection of a lien or security interest ;esp : such property acquired after the creation of a lien or security interest that is subject to the lien or...
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