Terminable Interest - Law Dictionary Search Results
assignment
assignor's interest in the property or right being assigned is terminated and transferred to the assignee equitable assignment : an assignment
power
circumstances (as upon the default of a mortgage) power of termination : a power of a grantor or the grantor's successors … control over persons and property within its jurisdiction in the interest of the general security, health, safety, morals, and welfare except
remainder
one other than the grantor that follows upon the natural termination of a prior intervening possessory estate (as a life estate) … the same time and by the same instrument compare future interest at interest, reversion charitable remainder : a remainder in favor
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reversion
back] 1 : the returning of an estate upon its termination to the former owner or to his or her successor … the former owner or to his or her successor in interest 2 a : the present vested interest in the residue
Fixtures
a tenant before, or within a reasonable time after, the termination of the tenancy, subject, however, to the tenant paying any … The fixtures must be moved before the tenant's term or interest expires, unless in the case of a strict tenancy at
statutory rule against perpetuities
interest in property that is not certain to vest or terminate within a life in being plus 21 years or that
Surrender
p. 1458. Surrender, is one of the recognized modes of termination of tenancy, but it contemplates acceptance of possession by the … is the giving up of a greater to a less interest, enlarging the latter. The effect of a surrender is to
Springing use
at a future period which does not coincide with the termination of a legal estate at common law, for instance. In … a form of use in the nature of an executory interest directing property inland to vest at a future period which
Foreclosure
Court. [Jud. Act, 1925, s. 56(1)] A legal proceeding to terminate a mortgagor's interest in property, instituted by lender either to
deduction
to the surviving spouse provided that the interest is not terminable during the life of the survivor 2 : a deduction
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