Reverse Mortgage - Law Dictionary Search Results
Salary or wages
the vendor the reconveyance, then the transaction is an outsale with the condition of repurchase, and not a mortgage by conditional sale, K. Kalu Reddy v. Bhubani Swayi, (1971) 1 CWR 689. Means a sale of goods … of tangible immovable property of the value of one hundred rupees and upwards, or in the case of reversion or other intangible thing can be made only by a registered instrument. In the case of tangible immovable
Precedent
authority from lapse of time, the longer a precedent has remained unquestioned, the more hard it becomes to reverse it. The courts has to adopt a construction of law, which would inevitably result in upsetting titles long … collections of pleadings, such as Bullen and Leake's Precedents of Pleadings, or of forms of wills, settlements, leases, mortgages, and other documents in ordinary use which are made and published from time to time as models which
Estate
(a) Reminders created by convention of parties, which are (a) vested, (b) contingent or executory, (c) cross. (b) Reversions arising by operation of law. (3) The number and connection of the tenants; either (A) Severalty. (B) Joint-tenancy. … estates existing concurrently with each other, thus the absolute ownership or fee simple may be leased and sub-leased, mortgaged and charged, each of the holders of these estates having a good legal or equitable estate at the
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Expectant heir
interfere between lender and borrower in these cases, and to set aside as 'unconscionable bargains' those mortgages of reversionary interests or other contracts of sale or loan in which the distress of the expectant heir is taken … accustomed to interfere between lender and borrower in these cases, and to set aside as 'unconscionable bargains' those mortgages of reversionary interests or other contracts of sale or loan in which the distress of the expectant heir
Limitation of actions and prosecutions
or upon recognizance is twenty years after the cause of action has accrued, except in the case of mortgage debts which are now barred after twelve years, whether by covenant or collateral bond, by the R.P. Act, … under s. 2 of the same Act in the case of claimants entitled to particular interests (in remainder, reversion or other future estate or interest) the right to recover land etc., is limited to six years from
Attendant term
upon the inheritance, was this: If it had at any time appeared that prior to the purchase or mortgage, but posterior to the creation of the term, there had been an intermediate alienation or incumbrance of the … out of freehold land which have or may become satisfied at any date will merge in the freehold reversion and come to an end, and similar terms out of leasehold land are to merge in the leasehold
Real representative
30 of the (English) Con-veyancing Act, 1881 (relating to the devolution upon the personal representative of trust and mortgage estates belonging to the deceased), were consolidated and extended by the Administration of Estates Act, 1925 (which applies … the statutory power [(English) L.P. Act, 1925, s. 176] devolve upon the personal representative. An entailed interest or reversion or remainder thereto which was not disposed of by will does not devolve upon them, nor does the
Power
man has power to make leases generally, this extends to make leases in possession only, and not in reversion. Powers appendant may be destroyed by release, bargain and sale, or feoffment; powers in gross, by feoffment or … (see ibid., s. 1 (8)) which can operate in law after 1925, i.e., the powers vested in legal mortgagee; the powers vested in an estate owner and exercisable by him or on his behalf; certain statutory powers
Deed
s. 57, a deed may be described according to the nature of the transaction, e.g., 'this lease,' 'this mortgage,' etc., or as a 'deed' and not habitually by the word 'indenture.' The requisites of a deed are … reserve the rent at large, not specifying to whom made, since the rent will be annexed to the reversion and belong to the person for the time being entitled to the latter. (l) Conditions, conditional limitations, provisos
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