Simple Trust - Law Dictionary Search Results
Registration of title of land
or over-reached without onerous formalities do not affect such purchasers; (c) the method of conveyance or charge is simple; (d) subject to the statutory provisions, registration guarantees the title to purchasers for value and mortgagees. It should … leasehold estate. A purchaser for value of registered land with any title but possessory is not affected by trusts, express, implied, or constructive (s. 74). A possessory title is affected by trusts arising prior to the first
Annuity
for the purpose of the purchase. Until then, as well as in the cases where there is a simple bequest of an annuity, or even where trustees are directed or authorized to set apart a fund for … definite amount in the purchase of an annuity. If there is only a power as distinguished from a trust to purchase an annuity, the annuitant's right to the capital value only arises upon or after the trustees
Originating summons
If the question raised is one requiring argument it is generally adjourned into Court; if it is a simple matter the judge will determine it in Chambers. The summons may be taken out by any person interested, … in the Chancery Division for the determination of particular questions arising in the administration of an estate or trust, without the administration of the whole estate or trust; for settling questions between vendors and purchasers (see VENDOR
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Equitable mortgage
and VIII. (1), (3), and see ss. 85, 86, ibid., a mortgagor retains a legal estate in fee simple or for a term of years, and the first and subsequent mortgagees out of that estate each have … not get the legal estate. The following mortgages are equitable:- (1) Where the subject of a mortgage is trust property, which security is effected either by a formal deed or a written memorandum, notice being given to
Cost-book mining companies
with them his liabilities, so far as his partners are concerned, without their consent, either by transfer or simple relinquishment, provided the cost book regulations do not prohibit such a course; in the former case the fact … by the landowner to the purser, or to one or two of the adventures, without any declaration of trust on their part for the rest, or for any other person, for a term of years, commonly twenty-one,
Jointure
estates now (English) (L.P. Act, s. 1), jointure lands which are settled and not consisting of the fee simple or a lease for years vested absolutely in the jointures may be over-reached upon conveyance to a purchaser … of years, or for any smaller estate. (3) It must be made to herself, and no other in trust for her. (4) It must be made, and so in the deed particularly expressed to be, in satisfaction
power
the donee or where the power is to transfer, charge, or encumber any estate less than a fee simple stock power : an irrevocable power of attorney used in making a transfer of a certificate of stock … the offer power of mod·i·fi·ca·tion [mÄ -də-fə-kā-shən] : a power reserved in an instrument (as one creating a trust) to make changes by a specified method power of revocation : a power usually reserved by a person
Merger
Property Act, 1925, a foreclosure by a mortgagee will merge the mortgage term into and vest the fee simple in the mortgagee subject to any prior mortgage term, and a similar consequence, mutatis mutandis, follows upon foreclosure … affinity.' When the same person has a legal estate in the fee, and is also entitled to the trust or beneficial ownership of that estate, the trust will merge in the legal ownership, but, on the other
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