Reversionary - Law Dictionary Search Results
Home Dictionary Name: reversionaryReversionary
Reversionary, that which is to be enjoyed in reversion. Unconscionable bargains for the sale of reversionary interests may be set aside, but by the Sale of Reversions Act, 1867, reproduced by the L.P. Act, 1925, s. 174, not merely on the ground of under value. See EXPECTANT HEIR....
Reversionary Interests of Married Women in Personalty
Reversionary Interests of Married Women in Personalty. See (English) Married Women's Reversionary Interests Act, 1857 ('Malins's Act'), 20 & 21 Vict. c. 57, enabling married women to dispose of such interests; Conveyancing Act, 1911 (1 & 2 Geo.5, c. 37), s. 7, and Law of Property Act, 1925, s. 167, abolishing acknowledgments by married women....
reversionary interest
reversionary interest see interest ...
Reversionary
Of or pertaining to a reversion involving a reversion to be enjoyed in succession or after the termination of a particular estate as a reversionary interest or right...
Reversionary lease
Reversionary lease, one to take effect in futuro. A second lease to commence after the expiration of a former lease. It did not create any term or estate, but only an interesse termini (see that title). By the (English) L.P. Act, 1925, s. 149, a term at a rent or a consideration of a fine cannot be created in law to take effect more than twenty-one years from the date of the instrument purporting to create it, and see RENEWAL and OPTION. Consult Foa or Wonafall on Landlord and Tenant...
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...
Acknowledgement of a wife's assurance
Acknowledgement of a wife's assurance. If, before 1st January, 1925 [see (English) Law of Property Act, 1925, s. 167], a woman married before 1883 disposed of her estate or interest in lands or her revisionary interest in personal property she was required, unless her title thereto had accrued since 1882, or unless she was entitled thereto for her separate use to comply with the formalities prescribed by the (English) Fines and Recoveries Act, 1833 (3 & 4 Will. 4, c. 74), ss. 77-91, with regard to land, and by 20 & 21 Vict. C. 57, commonly called (English) 'Malins's Act,' which incorporated the procedure of the (English) Fines and Recoveries Act, with regard to reversionary interests in personal estate.The (English) Fines and Recoveries Act requiredthe acknowledgment to be made before two commissioners, but the 7th section of the (English) Conveyancing Act, 1882, substituted one only, and also dispensed with the affidavit and certificate of acknowledgment required by the former Act; se...
Expectant heir
Expectant heir. A person to whom property will accrue on the death of another person. expectant heirs wishing to anticipate this property have frequently borrowed money, to be repaid when the expected property shall devolve upon them. From the uncertainty of this period, the unsoundness of the security which the expectant heir can offer, and from the pressing character of his immediate necessities, the rate of interest is necessarily higher than that upon an ordinary loan, and is frequently very much higher than the risk run by the lender requires. At Common Law all such loans are good, and the interest upon them, however high, recoverable. By the Usury Acts, indeed-which, however, did not apply to loans to expectant heirs with any greater rigour than to loans to other persons'they were for a long period of yeas subject to the restriction that only a fixed maximum rate of interest could be exacted, but the Usury Acts were repealed in 1854 by 17 & 18 Vict. c. 90. See USURY.From very ear...
Malins' (Sir Richard) Act (English)
Malins' (Sir Richard) Act (English).-The Married Women's Reversionary Interest Act, 1857 (20 & 21 Vict. c. 57), enabling married women to dispose of reversionary interests in personalty; see (English) Law of Property Act, 1925, ss. 167 and 169....
Under-tenure
Under-tenure, an under-tenure is not material whether the grant was a pre-settlement or a post-settlement one, but what is important is, in whom the reversionary interest rests. The reversionary interest may rest in the proprietor either because at the permanent settlement the inam was included in the assets of the zamindari or because he himself was the grantor of a permanent under-tenure, State of Madras v. Govindarjula Naidu, AIR 1966 SC 969 (972): (1966) 1 SCR 915. [T.N. Estates Land Act, 1908 (1 of 1908), s. 3(2) (e)]...
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