Terms For Years - Law Dictionary Search Results
Home Dictionary Name: terms for years Page: 7Coupon
A certificate of interest due printed at the bottom of transferable bonds state railroad etc given for a term of years designed to be cut off and presented for payment when the interest is due an interest warrant...
Freehold
Freehold, one of the two chief tenures known in ancient times by the phrase 'tenure in free socage,' and the only free lay-mode of holding property. It is derived from the feudal system, but the services connected with it were honourable and mild. The annihilation of the feudal severities has left this tenure unshackled, and by far the greater part of the real property in this country is freehold.Such an interest in lands of frank tenement as may endure not only during the owner's life, but which is cast after his death upon the persons who successively represent him. Such persons were called heirs, and he whom they thus represented, the ancestor. When the interest extended beyond the ancestor's life, it was called a freehold of inheritance, and when it only endured for the ancestor's life, it was a freehold not of inheritance.An estate to be a freehold must possess these two qualities: (1) immobility, that is, the property must be either land or some interest issuing out of or annexed...
Fee
Fee [fr. feoh, Sax.; fee, Dan., cattle; feudum, Med. Lat.; feu, Scot.], property peculiar; reward or recom-pense for services. See FEES. Also an estate of inheritance divided into there species: (1) fee-simple absolute; (2) qualified or conditional or base fee, including (3) fee-tail, formerly fee-conditional. By the (English) Law of Properties Act, 1925, s. 1, a fee-simple absolute in possession and a term of years absolute are the only estates in land capable of being conveyed or created at law. All other estates in land take effect as equitable interests [ibid., s. 1 (4)]. See FEE-SIMPLE.A charge for labour or services esp. professional services; Black's Law Dictionary, 7th Edn., p. 629.A 'fee' is generally defined to be a charge for a special service rendered to individuals by some governmental agency. The distinction between a tax and a fee lies primarily in the fact that a tax is levied as a part of a common burden, while a fee is a payment for a special benefit or privilege, Com...
Executor de son tort.
Executor de son tort. See (English) A.E. Act, 1925, ss. 28, 29, and s. 55(1)(xi.). If a stranger take upon himself to act as executor or administrator (see 14 Halsbury's L. of E., 2nd Edn., para. 282), without any just authority (as by intermeddling with the goods of the deceased, and any other transactions), he is called in Law an executor of his own wrong, de son tort, and is liable to the extent of the assets which have come to him and to all the trouble of an executorship without any of the profits or advantages; but the doing of acts of necessity or humanity, as locking up the goods or burying the corpse of the deceased, will not amount to such an intermeddling as will charge a man as executor of his own wrong. Such an one cannot bring an action himself in right of the deceased; but actions may be brought against him, 1 Wms. Exors.; and see Peters v. Leeder, (1878) 47 LJ QB 573; A.-G. v. New York Breweries Co., 1899 AC 62. As to his liability in respect of a term of years of which...
Leasehold
Leasehold, a chattel, interest and a dependent tenure derived either from a freehold, leasehold or (before 1926) copyhold or larger leasehold estate. See LEASE and TERM OF YEARS ABSOLUTE....
Notice to quit
Notice to quit. Where there is a tenancy from year to year subsisting, it can only be put an end to by notice to quit, which may be given by either party, and must be given one half-year previously to the expiration of the current year of tenancy, so as to expire at the same period of the year in which the tenant entered upon the premises. This rule is to be invariably followed in all cases, except where there is some special agreement between the parties to a different effect, or where a particular local custom intervenes, or where the (English) Agricultural Holdings Act, 1923, applies, in which case, by s. 25 of that Act, a notice must be given to terminate the tenancy twelve months from the end of the then current year of the tenancy.Where the term of a lease is to end on a precise day, there is no occasion for a notice to quit previously to bringing an action of ejectment because both parties are equally apprised of the termination of the term. If a tenant continue in possession by...
Terms
Terms, the periods during which the superior courts at Westminster were open.The legal year consists of four terms: Michaelmas, Hilary, Easter, and Trinity (which see), the year beginning with Michaelmas Term.The commencement and duration of the terms were fixed by 11 Geo. 4 & 1 Wm. 4, c. 70, s. 6, and 1 Wm. 4, c. 3, s. 3. By the first of these enactments Hilary Term began on the 11th and ended on the 31st of January; Easter Term began on the 15th of April and ended on the 8th of May; Trinity Term began on the 22nd of May and ended on the 12th of June; and Michaelmas Term began on the 2nd and ended on the 25th of November. Vacations in the Equity Courts were regulated also by Cons. Ord. V.By the (English) Judicature Act, 1873, s. 26, now repealed, it was provided that the division of the legal year into terms should be abolished so far as relates to the administration of justice. But in all other cases in which, under the law previously existing, the terms into which the legal year is ...
Renewal of lease
Renewal of lease, a re-grant of an expiring lease for a further term. Where a lease contains a covenant by the lessor for renewal, this convenant is commonly subject to the condition that the covenants in the lease shall have been performed by the lessee, and this 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 Act, 1730 (4 Geo. 2, c. 28), s. 6, before which Act a surrender of each under-lease was necessary.As to covenants for perpetual renewal, see Wynn v. Conway Corporation, (1914) 2 Ch 705, and cases there referred to.By the (English) Law of Property Act, 1922, s. 145, and 15th Sch., perpetually renewable leases have, from the 1st January, 1926, been converted into terms of 2,000 years from the date of the commen-cement of the existing term. The conversion is without prejudice to the covenants and conditions of the l...
Registration of title of land
Registration of title of land. The (English) Land Registration Act, 1925 (15 Geo. 5, c. 21), repeals and re-enacts the (English) Land Transfer Acts, 1875 (38 & 39 Vict. c. 87) and 1897 (60 & 61 Vict. c. 65), with amendments in keeping with innovations which were introduced by the property laws of 1925. Its object is to simplify the indicia of land ownership and transfer by mere inscription and transcription in a register. The advantages which are claimed for the system are (a) purchasers for value of an absolute or good leasehold title are absolved from any inquiry into the title other than it is shown to be on the register; (b) certain equitable claims which would be binding on the land under the general law and cannot be removed 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 be observ...
Holding over
Holding over, keeping possession of land by a lessee after the expiration of his term, whereby if the possession is against the will of the landlord, he becomes a trespasser, but if he remains with the consent of the landlord, he becomes a tenant at will or he may simply remain on sufferance; if subsequent rent is accepted by his landlord he usually becomes tenant from year to year on the terms of the expired lease, Hyatt v. Griffiths, (1851) 17 QB 505.A tenant wrongfully holding over premises of which the value does not exceed 100l. a year may be ejected by proceedings in the county Court, under the County Courts Act, 1934 (24 & 25 Geo. 5, c. 53), or if the term do not exceed seven years, or the rent 20l. a year, by proceedings before justices of the peace under the Small Tenements Recovery Act, 1838 (1 & 2 Vict. c. 74). See also DOUBLE RENT; DOUBLE VALUE...
- << Prev.
- Next >>