Vested Remainder - Law Dictionary Search Results
Marriage settlement
Marriage settlement, an arrangement made before marriage, and in consideration of it (the highest consideration known to the law), whereby real or personal property is settled for the benefit of the husband and wife and the issue of the marriage. There is an express saving for such a settlement in s. 19 of the (English) Married Women's Property Act, 1882, and see the (English) Married Women's Property Act, 1907 (7 Edw. 7, c. 1), invalidating a settlement made by a female infant unless confirmed after attaining 21, but without prejudice to settlements under the Infants Settlement Act, 1855 (see post, MARRIED WOMEN'S PROPERTY).Although the policy of the land legislation of 1924 was to assimilate the law of real property to that of personalty as far as possible, marriage settlements of land (not being effected by way of trust for sale), and if providing for infant or for a succession of interests in land or charging land (but in this case subject to the (English) Law of Property Amendment...
Real representative
Real representative. The name formerly given to a personal representative on whom real estate devolved on the death of any person between the 31st December, 1897, and the 1st January, 1926, under the provisions of the (English) Land Transfer Act, 1897.Prior to the commencement on the 1st of January, 1898, of the (English) Land Transfer Act, 1897 [see (English) TRANSFER OF LAND ACTS], the real estate of a deceased person vested in his heir, heiresses, or devisees, and his personal estate in his executors or administrators. The (English) Land Transfer act, 1897, (60 & 61 Vict. c. 65), reproduced and extended by the (English) Administration of Estates Act, 1925, established a real representative in the person of the executor or administrator of any person dying after the commencement of that Act, in whom all his real estate except copyhold was vested notwithstanding his will, unless, as in a joint tenancy, any other person had a right to take by survivorship, so that one and the same pers...
Assent of personal representatives
Assent of personal representatives, At Common Law the personal estate passing by the will of a deceased person, including chattels real vested in the executor, virtute officii. The property passed to the legatee as soon as the executors assented to the bequest. The transfer was made not by the mere force of the assent but by virtue of the will, Attenborough v. Solomon, 1912 AC 76, and the assent might be given to one executor. No formalities were required. The assent might be implied, for instance, in the case of lease holds, by letting the person entitled into possession or the receipt of rent and profits, but the assent was required to be definite and unambiguous. When given it related back to the date of death and as a rule it could not be withdrawn [but see Whittaker v. Kershaw (1890), 45 CD 320]. This is still the law in regard to pure personalty, excluding chattels real. Before the (English) Land Transfer Act, 1897 (60 & 61 Vict. c. 65) real estate passed to the heir-at-law of th...
Passive trust
Passive trust, a trust as to which the trustee has no active duty to perform. Passive uses were resorted to before the Statute of Uses, in order to escape from the trammels and hardships of the Common Law, the permanent division of property into legal and equitable interests being clearly an invention to lessen the force of some pre-existing law. For similar reasons equitable interests were after the statute revived under the form of trusts. as such, they continued to flourish, notwithstanding the singular amelioration effected at a later period in the law of tenure, because the legal ownership was attended with some peculiar inconveniences. For, in order to guard against the forfeiture of a legal estate for life passive trusts, by settlements, were resorted to, and hence, trusts to preserve contingent remainders; and passive trusts were created in order to prevent dower.Where an active trust was created, without defining the quantity of the estate to be taken by the trustee, the court...
Title
Title, means the union of all elements (as ownership possession, and custody) constituting the legal right to control and dispose of property; the legal link between a person who owns property and the property itself, Black's Law Dictionary, 7th Edn., p. 1493.Title: 1, a general head, comprising particulars, as in a book; 2, an appellation of honour or dignity; 3, the means whereby the owner of lands has the just possession of his property--titulus est justa causa pos sidendi id quod nostrum est: Co. Litt. 345b.1. The union of all elements (as ownership, possession, and custody) constituting the legal right to central and dispose of property; the2. Legal evidence of a person's ownership rights in property; an chastenment (such as a deed) that constitute such evidence3. The heading of a statute or other legal document, Black's Law Dictionary, 7th Edn.There are several stages and degrees requisite to form a complete title to lands and tenements.1. The lowest and most imperfect degree of ...
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...
Limitation of actions and prosecutions
Limitation of actions and prosecutions. By various statutes, of which the first was 21 Jac. 1, c. 16, the (English) Limitation Act, 1623, and the principal succeeding ones, the Real Property Limitation Act, 1833 (3 & 4 Will. 4, c. 42), the (English) Civil Procedure Act (3 & 4 Will. 4, c. 27) [see Read v. Price, (1909) 2 KB 724], and 37 & 38 Vict. c. 57, the (English) Real Property Limitation Act, 1874, certain periods are fixed within which, upon the principle Interest reipublic' ut sit finis litium, particular actions must be brought or proceedings taken.In the case of simple contract the remedy on the contract is barred, leaving the creditor free to enforce his claims by other means which may be still available, such as enforcing a lien, subsequent acknowledgment by the debtor or appropriation of payments, but not by way of set-off (9 Geo. 4, c. 14, s. 3). In regard to land, the right to it is destroyed after the statutory period and neither re-entry nor acknowledgment after the laps...
reversion
reversion [Anglo-French, from Middle French, from Latin reversio act of turning back, from revertere to turn back] 1 : the returning of an estate upon its termination to the former owner or to his or her successor in interest 2 a : the present vested interest in the residue of an estate that remains in its owner after the grant therefrom of a lesser estate (as a life estate) and that will commence in possession by operation of law upon termination of the lesser estate b : the future interest in property left in a grantor or his or her successor in interest that is not subject to a condition precedent compare possibility of reverter, remainder re·ver·sion·ary [-zhə-ner-ē] adj ...
Deed
Deed [fr. d'd, Sax.; ded gaded, Goth.;daed, Dut.], a formal document on paper or parchment duly signed, sealed, and delivered. It is either an indenture (factum inter partes) needing an actual indentation [(English) Real Property Act, 1845 (8 & 9 Vict. c. 106), s. 5], reproduced by the Law of Property Act, 1925, s. 56 (2), made between two or more persons in different interests, or a deed-poll (charta de una parte) made by a single person or by two or more persons having similar interests. By the (English) Law of Property Act, 1925, s. 57, a deed may be described according to the nature of the transaction, e.g., 'this lease,' 'this mortgage,' etc., or as a 'deed' and not habitually by the word 'indenture.'The requisites of a deed are these:-(1) Sufficient parties and a proper subject of assurance.(2) It must be written, engrossed, printed, or lithographed, or partly written or engrossed, and partly printed or lithographed in any character or in any language, on paper, vellum, or parchm...
Lease and release
Lease and release, a mode of conveyance which derived its effect from the Statute of Uses, compounded of a lease for a year at Common Law, or a bargain and sale for a year under the Statute of Uses, and a Common Law Release. This compound conveyance originated thus: The Statute of Enrolments (27 Hen. 8, c. 16) seemed to be confined to cases where an estate of inheritance or freehold, or the use thereof, was to be made or take effect by reason only of a bargain and sale; it was therefore concluded that if a bargain and sale were first made for an estate less than freehold, as for one year, and then the inheritance or freehold were superadded by a separate deed of release, the transaction could not be affected by the statute;and that such release to the bargainee would be valid, without his entry upon the lands, as a consequence of the strong words in the Statute of Uses which converts all vested uses at once into legal estates. The convenience and general applicability of the lease ad r...
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