Reconveyance - Law Dictionary Search Results

Home Dictionary Name: reconveyance

reconvey

reconvey : to convey back or again [the lender ed title to the borrower upon satisfaction of the debt] ...

Reconvey

To convey back or to the former place as to reconvey goods...

Reconveyance

Reconveyance. See PROVISO FOR REDEMPTION; MORTGAGE.The restoration or return of something (esp. an estate or title) to a former owner or holder, Black's Law Dictionary, 7th Edn....

Mortgage [fr. mort, Fr., dead, and gage, pledge], a deed pledge; a thing put into the hands of a creditor.A mortgage is the creation of an interest in property, defeasible (i.e., annullable) upon performing the condition of paying a given sum of money, with interest thereon, at a certain time. This conditional assurance is resorted to when a debt has been incurred, or a loan of money or credit effected, in order to secure either the repayment of the one or the liquidation of the other. the debtor, or borrower, is then the mortgagor, who has charged or transferred his property in favour of or to the creditor or lender, who thus becomes the mortgagee. If the mortgagor pay the debtor loan and interest within the time mentioned in a clause technically called the proviso for redemption, he will be entitled to have his property again free from the mortgagee's claim; but should he not comply with such proviso, the legal estate becomes perfected in the mortgagee, i.e., indefeasible, and so los...

Proviso for redemption

Proviso for redemption. The condition in a conveyance upon mortgage whereby if the mortgagor pays to the mortgagee the principal, interest, and any other moneys secured by the mortgage on a specified day, the mortgagee becomes bound to reconvey the mortgaged property to the mortgagor at any time at his request and cost. By the Law of Property Act, 1925, s. 115, a receipt of the person entitled to give a receipt (see statutory form) for the moneys secured by the mortgage endorsed on or written at the foot if, or annexed to the mortgage operates as a surrender or release of the mortgagee's term or as a reconveyance of all the mortgaged interest or property, and in either case a discharge of all the moneys secured by the mortgage without any other reconveyance, surrender or release. See MORTGAGE....

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 '...

Salary or wages

Salary or wages, means all remuneration (other than remuneration in respect of over-time work) capable of being expressed in terms of money, which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment and includes dearness allowance (that is to say, all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living), but does not include--(i) any other allowance which the employee is for the time being entitled to;(ii) the value of any house accommodation or of supply of light, water, medical attendance or other amenity or of any service or of any concessional supply of foodgrains or other articles.(iii) any travelling concession;(iv) any bonus (including incentive, production and attendance bonus);(v) any contribution paid or payable by the employer to any pension fund or provident fund or for the benefit of the employee under any law for t...

re-

re- 1 : again : anew [reinvest] 2 : back : backward [reconvey] ...

Fieri feci

Fiducia. If a man transferred his property to another, on condition that it should be restored to him, this contract was called fiducia, and the person to whom the property was so transferred was said fiduciam accipere, Cic. Top. 10. A man might transfer his property to another for greater security in time of danger, or for other sufficient reasons, Gaius, ii. 60.An early form of mortgage or pledge in which debtor passed title to property to creditors by a formal act of sale, yet with express or implied agreement that the creditor would reconvey property once debt was paid, Black's Law Dictionary, 7th Edn., p. 640....

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