Surrender Value - Law Dictionary Search Results
surrender value
Matched in: Term surrender value
cash surrender value
Matched in: Term cash surrender value
life insurance
term life insurance : life insurance that provides coverage for a set term and does not accumulate cash surrender value universal life insurance : life insurance characterized by flexible premiums, benefits, and payment schedules, by the indexing of … : life insurance that provides coverage over the life of the insured and that can be sold for surrender value or used as the basis of low-interest loans called also ordinary life insurance straight life insurance
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Copyhold
& 4 Wm. 4, c. 106), are applicable to the species of tenure. (6) Copyholds are alienated by surrender, according to general custom, followed by admittance at the hands of the lord or his steward, and they … practice as to the payment of the fine on the admittance of joint tenants in this: two years' value is paid for the first life, half of that on the second, and a half of that half
Estate duty
duty first levied by the (English) Finance Act, 1894 (57 & 58 Vict. c. 30), upon the principal value of all property, real or personal, settled or not settled, which passes or is deemed to pass on … Inland Revenue Act, 1889. Property 'passing' on death includes also settled property, in which the life interest is surrendered to the remainderman by the tenant for life within the three years before the death of the tenant
gift
the ordinary course of business used in the law of gift tax NOTE: The amount by which the value of property so transferred exceeds the consideration paid is included in the total amount of taxable gifts made … inter vivos : a gift made during the lifetime of the donor and delivered with the intent of surrendering immediately and irrevocably dominion and control over the property compare donation inter vivos at donation, gift causa mortis
Partition
Girija Nandi Devi v. Bijendra Narain Chowdhary, AIR 1967 SC 1124: (1967) 4 SCD 501. Partition, signifies a surrender of a portion of the joint rights in exchange for a similar right from the co-sharer, Rasa v. … a sum of money or rent for owelty of partition, to those that have the houses of least value. For an order for partition of a wall separating the gardens of two adjoining houses, see Mayfair Property
Mortgage
of any mortgage. This receipt by s. 115 of the Law of Property Act, 1925, operates as a surrender, reconveyance or transfer of the mortgaged property subject to prior incumbrances (if any). The provisions of s. 115 … which are not accompanied by the title deeds and not registered are void as against a purchaser for value if registration is not effected before completion of the purchase. Legal mortgages made before 1925 do not lose
Renewal of lease
condition is strongly enforced by the Court, Finch v. Underwood, (1876) 2 Ch D 310. Leases may be surrendered in order to be renewed, without a surrender of under-leases, by virtue of the (English) Landlord and Tenant … Landlord and Tenant Act, 1927, for renewal of leases by way of compensation for improvements and increase in value due to goodwill. See, generally, Woodfall, L.&T.
Lease
a price paid or promised, or of money, a share of crops, service or any other thing of value , to be rendered periodically or on specified occasion to the transferor by the transferee, who accepts the … an interesse termini by virtue of his Common Law assurance, a right which could be assigned, but not surrendered, and which did not prevent the merger of two estates by its interposition, nor itself occasion a merger.
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