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Attornment
Attornment (from French ''tourner'', "to turn"), in English real property law, is the acknowledgment of a new lord by the tenant on the alienation of land. Under the feudal system, the relations of landlord and tenant were to a certain extent reciprocal. So it was considered unreasonable to the tenant to subject him to a new lord without his own approval, and it thus came about that alienation could not take place without the consent of the tenant. Attornment was also extended to all cases of lessees for life or for years. The necessity for attornment was abolished by the Administration of Justice Act 1705. In mortgages, an attornment clause is a clause whereby the mortgagor attorns tenant to the mortgagee, thus giving the mortgagee the right to distrain, as an additional security. As used in modern legal transactions, the term ''attornment'' refers to an acknowledgment of the existence of the relationship of landlord and tenant. A tenant often has the duty under the tenant's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Law
Property law is the area of law that governs the various forms of ownership in real property (land) and personal property. Property refers to legally protected claims to resources, such as land and personal property, including intellectual property. Property can be exchanged through Contract, contract law, and if property is violated, one could sue under Tort, tort law to protect it. The concept, idea or philosophy of property underlies all property law. In some jurisdictions, historically all property was owned by the monarch and it devolved through feudal land tenure or other feudal systems of loyalty and fealty. Theory The word ''property'', in everyday usage, refers to an object (or objects) owned by a person—a car, a book, or a cellphone—and the relationship the person has to it. In law, the concept acquires a more nuanced rendering. Factors to consider include the nature of the object, the relationship between the person and the object, the relationship between a numbe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alienation (property Law)
In property law, alienation is the voluntary act of an owner of some property to convey or transfer the property to another. Alienability is the quality of being alienable, i.e., the capacity for a piece of property or a property right to be sold or otherwise transferred from one party to another. Most property is alienable, but some may be subject to restraints on alienation. Some objects are now regarded as ineligible for becoming property and thus termed inalienable, such as people and body parts. Aboriginal title is one example of inalienability (save to the Crown) in common law jurisdictions. A similar concept is '' non-transferability'', such as tickets. Rights commonly described as a '' licence'' or permit are generally only personal and are not assignable. However, they are alienable in the sense that they can generally be surrendered. In England under the feudal system, land was generally transferred by subinfeudation, and alienation required license from the ov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Feudal
Feudalism, also known as the feudal system, was a combination of legal, economic, military, cultural, and political customs that flourished in Middle Ages, medieval Europe from the 9th to 15th centuries. Broadly defined, it was a way of structuring society around relationships derived from the holding of land in exchange for service or labour. The classic definition, by François Louis Ganshof (1944),François Louis Ganshof (1944). ''Qu'est-ce que la féodalité''. Translated into English by Philip Grierson as ''Feudalism'', with a foreword by F. M. Stenton, 1st ed.: New York and London, 1952; 2nd ed: 1961; 3rd ed.: 1976. describes a set of reciprocal legal and Medieval warfare, military obligations of the warrior nobility and revolved around the key concepts of lords, vassals, and fiefs. A broader definition, as described by Marc Bloch (1939), includes not only the obligations of the warrior nobility but the obligations of all three estates of the realm: the nobility, the cl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Landlord
A landlord is the owner of property such as a house, apartment, condominium, land, or real estate that is rented or leased to an individual or business, known as a tenant (also called a ''lessee'' or ''renter''). The term landlord applies when a juristic person occupies this position. Alternative terms include lessor and owner. For female property owners, the term landlady may be used. In the United Kingdom, the manager of a pub, officially a licensed victualler, is also referred to as the landlord/landlady. In political economy, landlord specifically refers to someone who owns natural resources (such as land, excluding buildings) from which they derive economic rent, a form of passive income. History The concept of a landlord can be traced to the feudal system of manoralism ( seignorialism), where landed estates were owned by Lords of the Manor ( mesne lords). These lords were typically members of the lower nobility who later formed the rank of knights during ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lessee
A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. In essence, a lease agreement is a contract between two parties: the lessor and the lessee. The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree to the condition that the car will only be used for personal use. The term rental agreement can refer to two kinds of leases: * A lease in which the asset is tangible property. Here, the user '' rents'' the asset (e.g. land or goods) ''let out'' or ''rented out'' by the owner (the verb ''to lease'' is less precise because it ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Administration Of Justice Act 1705
The Administration of Justice Act 1705 (4 & 5 Ann. c. 3) was an Act of Parliament (United Kingdom), act of the Parliament of England. The whole act was repealed by section 34(1) of, and schedule 2 to, the Administration of Justice Act 1965. Section 12 This section was repealed by section 1 of, and schedule 1 to, the Statute Law Revision Act 1948. Section 13 This section was repealed by section 1 of, and schedule 1 to, the Statute Law Revision Act 1948. Section 20 This section was repealed by section 1 of, and schedule 1 to, the Statute Law Revision Act 1871. Section 24 In this section, the words from "from and after" to "Trinity term" and the words "and all the statutes of jeofails" were repealed by section 1 of, and schedule 1 to, the Statute Law Revision Act 1948. See also *Administration of Justice Act Notes References *Halsbury's Statutes, Acts of the Parliament of England 1705 Repealed English legislation {{England-statute-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage
A mortgage loan or simply mortgage (), in civil law (legal system), civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is "collateral (finance), secured" on the borrower's property through a process known as mortgage origination. This means that a Mortgage law, legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Legal professions in England and Wales, Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken throu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Distraint
Distraint or distress is "the seizure of someone’s property in order to obtain payment of rent or other money owed", especially in common law countries. Distraint is the act or process "whereby a person (the ''distrainor''), traditionally even without prior court approval, seizes the personal property of another located upon the distrainor's land in satisfaction of a claim, as a pledge for performance of a duty, or in reparation of an injury." Distraint typically involves the seizure of goods ( chattels) belonging to the tenant by the landlord to sell the goods for the payment of the rent. In the past, distraint was often carried out without court approval. Today, some kind of court action is usually required, the main exception being certain tax authorities – such as HM Revenue and Customs in the United Kingdom and the Internal Revenue Service in the United States – and other agencies that retain the legal power to levy assets (by either seizure or distraint) without a cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Encumbrance
An encumbrance is a third party's right to, interest in, or legal liability on property that does not prohibit the property's owner from transferring title (but may diminish its value). Encumbrances can be classified in several ways. They may be financial (for example, liens) or non-financial (for example, easements, private restrictions). Alternatively, they may be divided into those that affect title (for example, lien, legal or equitable charge) or those that affect the use or physical condition of the encumbered property (for example, restrictions, easements, encroachments).Fillmore E. Galay et al., '' Modern Real Estate Practice in Illinois'', 4th edn. (Chicago: Dearborn Real Estate Education, 2001), 107. Encumbrances include security interests, liens, servitudes (for example, easements, wayleaves, real covenants, profits a prendre), leases, restrictions, encroachments, and air and subsurface rights. Jurisdictions Hong Kong In Hong Kong, there is a statutory definition ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Due Diligence
Due diligence is the investigation or exercise of care that a reasonable business or person is normally expected to take before entering into an agreement or contract with another party or an act with a certain standard of care. Due diligence can be a legal obligation, but the term more commonly applies to voluntary investigations. It may also offer a defence against legal action. A common example of due diligence is the process through which a potential acquirer evaluates a target company or its assets in advance of a merger or acquisition. The theory behind due diligence holds that performing this type of investigation contributes significantly to informed decision making by enhancing the amount and quality of information available to decision makers and by ensuring that this information is systematically used to deliberate on the decision at hand and all its costs, benefits, and risks. Development of the term The term "due diligence" can be read as "required carefulness" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eviction
Eviction is the removal of a Tenement (law), tenant from leasehold estate, rental property by the landlord. In some jurisdictions it may also involve the removal of persons from premises that were foreclosure, foreclosed by a mortgagee (often, the prior owners who defaulted on a mortgage). Depending on the laws of the jurisdiction, eviction may also be known as unlawful detainer, summary possession, summary dispossess, summary process, forcible detainer, ejectment, and repossession, among other terms. Nevertheless, the term ''eviction'' is the most commonly used in communications between the landlord and tenant. Depending on the jurisdiction involved, before a tenant can be evicted, a landlord must win an eviction lawsuit or prevail in another step in the legal process. It should be borne in mind that ''eviction'', as with ''ejectment'' and certain other related terms, has precise meanings only in certain historical contexts (e.g., under the English common law of past centurie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Case Or Controversy
The Supreme Court of the United States has interpreted the Case or Controversy Clause of Article III of the United States Constitution (found in Art. III, Section 2, Clause 1) as embodying two distinct limitations on exercise of judicial review: a bar on the issuance of advisory opinions, and a requirement that parties must have standing. In this context, "controversy" means an actual dispute between the parties. Summary First, the Court has held that the clause identifies the scope of matters which a federal court can and cannot consider as a case (i.e., it distinguishes between lawsuits within and beyond the institutional competence of the federal judiciary), and limits federal judicial power only to such lawsuits as the court is competent to hear. For example, the Court has determined that this clause prohibits the issuance of advisory opinions (in which no actual issue exists but an opinion is sought), and claims where the appellant stands to gain only in a generalized sen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
