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Base Fee
A base fee is an interest in real property that has the potential to last forever, provided a specified contingent event does not take place. For example, a grantee might be given an interest in a piece of land, "as long as the land is not used for any illegal purposes." Law In law, a base fee is a freehold estate of inheritance which is limited or qualified by the existence of certain conditions. In modern property law the commonest example of a base fee is an estate created by a tenant in tail, not in possession, who bars the entail without the consent of the protector of the settlement. Any attempt to bar the entail without the consent of the Protector would only be partially successful. Though he bars his own issue (the rights of the future tenants in tail), he cannot bar any remainder or reversion, and the estate (''i.e.'' the ''base fee'') thus created is determinable on the failure of his issue in tail. The base fee can be defined as rights that would last for as long a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freehold (law)
In common law jurisdictions such as England and Wales, Australia, Canada, and Ireland, a freehold is the common mode of ownership of real property, or land, and all immovable structures attached to such land. It is in contrast to a leasehold, in which the property reverts to the owner of the land after the lease period expires or otherwise lawfully terminates. For an estate to be a freehold, it must possess two qualities: immobility (property must be land or some interest issuing out of or annexed to land) and ownership of it must be forever ("of an indeterminate duration"). If the time of ownership can be fixed and determined, it cannot be a freehold. It is "An estate in land held in fee simple, fee tail or for term of life." The default position subset is the perpetual freehold, which is "an estate given to a grantee for life, and then successively to the grantee's heirs for life." England and Wales Diversity of freeholds before 1925 In England and Wales, before the Law of Pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Issue (legal)
In genealogy and wills, a person's issue is all their lineal descendants. Lineal descendants ''Issue'' typically means a person's lineal descendants—all genetic descendants of a person, regardless of degree. Issue is a narrower category than heirs, which includes spouses, and collaterals ( siblings, cousins, aunts, and uncle)s. This meaning of ''issue'' arises most often in wills and trusts. A person who has no living lineal descendants is said to have died without issue. A child or children are first-generation descendants and are a subset of issue. See also * Legitimacy (family law) * Primogeniture * Royal bastard * Royal descent A royal descent is a genealogical line of descent from a past or present monarch. Both geneticists and genealogists have attempted to estimate the percentage of living people with royal descent. From a genetic perspective, the number of ... References Legal terminology {{law-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fee Simple
In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership. A "fee" is a vested, inheritable, present possessory interest in land. A "fee simple" is real property held without limit of time (i.e., permanently) under common law, whereas the highest possible form of ownership is a "fee simple absolute," which is without limitations on the land's use (such as qualifiers or conditions that disallow certain uses of the land or subject the vested interest to termination). The rights of the fee-simple owner are limited by government powers of taxation, compulsory purchase, police power, and escheat, and may also be limited further by certain encumbrances or conditions in the deed, such as, for example, a condition that required the land to be used as a public park, with a reversion interest in the grantor if the condition fails; this is a fee simple conditional. History The word "fee" is related to the term fief, meaning a feudal la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cyril Hare
Alfred Alexander Gordon Clark (4 September 1900 – 25 August 1958) was an English judgeHis Honour A. A. Gordon Clark (Obituaries) The Times Tuesday, 26 August 1958; pg. 10; Issue 54239; col E and crime writer under the pseudonym Cyril Hare. Life and work Gordon Clark was born in Mickleham, Surrey, the third son of Henry Herbert Gordon Clark of Mickleham Hall, Surrey, a merchant in the wine and spirit trade, Matthew Clark & Sons being the family firm. The socialist politician Susan Lawrence was his aunt. He was educated at St Aubyn's, Rottingdean and Rugby. He read History at New College, Oxford (where he heard William Archibald Spooner say in a sermon that 'now we see through a dark ) and graduated with a First. He then studied law and was called to the Bar at Middle Temple in 1924. Gordon Clark's pseudonym was a mixture of Hare Court, where he worked in the chambers of Roland Oliver, and Cyril Mansions, Battersea, where he lived after marrying Mary Barbara Lawrence (daugh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Felix Holt, The Radical
''Felix Holt, the Radical'' (1866) is a social novel written by George Eliot about political disputes in a small English town at the time of the First Reform Act of 1832. In January 1868, Eliot penned an article entitled "Address to Working Men, by Felix Holt". This came on the heels of the Second Reform Act of 1867 which expanded the right to vote beyond the landed classes and was written in the character of, and signed by, Felix Holt. Plot introduction Set during the time of the Reform Act of 1832, the story centres on an election contested by Harold Transome, a local landowner, in the "Radical cause" ("Radical" because Transome's version of " radicalism" isn't radical at all, but rather an application of the term to his politically stagnant lifestyle), contrary to his family's Tory traditions. Contrasting with the opportunism of Transome is the sincere, but opinionated, Radical Felix Holt. A subplot concerns the stepdaughter of a Dissenting minister who is the true heir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Eliot
Mary Ann Evans (22 November 1819 – 22 December 1880; alternatively Mary Anne or Marian), known by her pen name George Eliot, was an English novelist, poet, journalist, translator, and one of the leading writers of the Victorian era. She wrote seven novels: '' Adam Bede'' (1859), '' The Mill on the Floss'' (1860), '' Silas Marner'' (1861), ''Romola'' (1862–63), '' Felix Holt, the Radical'' (1866), '' Middlemarch'' (1871–72) and '' Daniel Deronda'' (1876). Like Charles Dickens and Thomas Hardy, she emerged from provincial England; most of her works are set there. Her works are known for their realism, psychological insight, sense of place and detailed depiction of the countryside. ''Middlemarch'' was described by the novelist Virginia Woolf as "one of the few English novels written for grown-up people"Woolf, Virginia. "George Eliot." ''The Common Reader''. New York: Harcourt, Brace, and World, 1925. pp. 166–76. and by Martin Amis and Julian Barnes as the greatest novel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reversion (law)
A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum that he has (such as the owner of a fee simple granting a life estate or a leasehold estate). Once the lesser estate comes to an end (the lease expires or the life estate tenant dies), the property automatically reverts (hence ''reversion'') back to the grantor. A reversion interest is logically similar, but not legally identical, to the rights retained by someone who lends his property to another for a limited time. Although the bailee has the right to possess the property during the limited duration, these rights are neither permanent nor exclusive. When the time comes, the property rights of possession will terminate and return to the holder of the reversion. Reversions are commonly created in real property transactions, particularly during lease arrangements as well as devise (the transfer of real property through a will). In the context of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Remainder (law)
In property law of the United Kingdom and the United States and other common law countries, a remainder is a future interest given to a person (who is referred to as the transferee or remainderman) that is capable of becoming possessory upon the natural end of a prior estate created by the same instrument. Thus, the prior estate must be one that is capable of ending naturally, for example upon the expiration of a term of years or the death of a life tenant. A future interest following a fee simple absolute cannot be a remainder because of the preceding infinite duration. For example: : A person, , conveys (gives) a piece of real property called "Blackacre" "to for life, and then to and her heirs". :* receives a life estate in Blackacre. :* holds a ''remainder'', which can become ''possessory'' when the prior estate naturally terminates ('s death). However, cannot claim the property during 's lifetime. There are two types of remainders in property law: ''vested'' and ''cont ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Settlement (trust)
A settlement in trusts law is a deed (also called a trust instrument) whereby real estate, land, or other property is given by a settlor into trust so the beneficiary has the limited right to the property (for example, during their life), but usually has no right to sell, bequeath or otherwise transfer it. Instead the property devolves as directed by the settlement. History In most jurisdictions, settlements only confer beneficial rights under a trust. They were formerly used to create legal estates for life or in tail, or to make provision for portions for younger children. See also * English trust law * Settled Land Acts *Trust Law A trust is a legal relationship in which the holder of a right gives it to another person or entity who must keep and use it solely for another's benefit. In the Anglo-American common law, the party who entrusts the right is known as the " sett ... External links * Wills and trusts Equity (law) Legal documents {{law-term-stu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Estate (law)
An estate, in common law, is the net worth of a person at any point in time, alive or dead. It is the sum of a person's assets – legal rights, interests and entitlements to property of any kind – less all liabilities at that time. The issue is of special legal significance on a question of bankruptcy and death of the person. (See inheritance.) Depending on the particular context, the term is also used in reference to an estate in land or of a particular kind of property (such as real estate or personal estate). The term is also used to refer to the sum of a person's assets only. The equivalent in civil law legal systems is patrimony. Bankruptcy Under United States bankruptcy law, a person's estate consists of all assets or property of any kind available for distribution to creditors. However, some assets are recognized as exempt to allow a person significant resources to restart his or her financial life. In the United States, asset exemptions depend on vario ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protector (trust)
In trust law, a protector is a person appointed under the trust instrument to direct or restrain the trustees in relation to their administration of the trust. Historically, the concept of a protector developed in offshore jurisdictions where settlors were (perhaps understandably) concerned about appointing a trust company in a small, distant country as sole trustee of an offshore trust which is to hold a great deal of the settlor's wealth. However, protectors now form a part of mainstream tax planning in most jurisdictions which recognise trusts. There are a number of reasons that a settlor may wish to appoint a protector in relation to a trust: * protectors allow a great degree of flexibility when dealing with changes in circumstances, including both factual circumstances (death, premature divorce, previously unknown children) and legal changes (any legal changes, but most frequently changes to applicable revenue laws); * the settlor may be concerned that the trustee may not ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Possession (law)
In law, possession is the control a person intentionally exercises toward a thing. Like ownership, the possession of anything is commonly regulated by country under property law. In all cases, to possess something, a person must have an intention to possess it. A person may be in possession of some property (although possession does not always imply ownership). Intention to possess An intention to possess (sometimes called ''animus possidendi'') is the other component of possession. All that is required is an intention to possess something for the time being. In common law countries, the intention to possess a thing is a fact. Normally, it is proved by the acts of control and surrounding circumstances. It is possible to intend to possess something without knowing that it exists. For example, if you intend to possess a suitcase, then you intend to possess its contents, even though you do not know what it contains. It is important to distinguish between the intention sufficient ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
