Settlor - Law Dictionary Search Results
Stamp duties
penalty of ten pounds, which falls upon the obligee, vendee or transferee, lessee or intended lessee, mortgagee, or settlor, as the case may be, for not stamping the instrument within thirty days after execution in ordinary cases.
Springing use
the use of A. (an infant) in fee attaining twenty-one years of age, the use results to the settlor until, if ever, the period arrives and a good legal estate was conferred upon A. attaining that age
Special trust
passive depositary of the estate, but is called upon to exert himself actively in the execution of the settlor's intention; as where a conveyance is made to trustees upon trust to sell for payment of debts. See
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Simple trust
in one person upon trust for another, and the nature of the trust, not being qualified by the settlor, is left to the construction of law. In this case the cestui que trust has jushabendi, or the
Settlement
property -- or of interests in property -- to provide for one or more beneficiaries, usu. members of settlor's family in a way that differs from what the beneficiaries would receive as heirs under statutes of descent
Restraint on alienation
Re Mabbett, (1891) 1 Ch 707, and Trustee Act, 1925, s. 33]. A settlement upon himself by a settlor determining his estate upon bankruptcy is void. As to alienation of advowson, see Benefices Act, 1898 (61 &
Accounts duties
voluntarily so created and taken by survivorship; and on property taken under a voluntary settlement in which the settlor had reserved a life interest. These duties were in name superseded by the 'Estate Duty' imposed by the
Name and arms clause
estates are settled, either by deed or will, to take and use the name and arms of the settlor. As to the framing and effect of such a clause, see Dav. Prec., vol. iii. Pt. I. p.
Custodian trustee
distinct from the management of the trust estate. The appointment may be made by the Court or the settlor or the donee of the power of appointing new trustees, but the only persons eligible are the Public
Curtesy of England
prior estate created by the settlement as well as a resulting use or trust to or for the settlor, is to be deemed a prior estate under the settlement within the contemplation of the (English) Fines and
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