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Defeasible Estate
{{distinguish, text = the concept of indefeasibility within property law A defeasible estate is created when a grantor transfers land conditionally. Upon the happening of the event or condition stated by the grantor, the transfer may be void or at least subject to annulment. (An estate not subject to such conditions is called an indefeasible estate.) Historically, the common law has frowned on the use of defeasible estates as it interferes with the owners' enjoyment of their property and as such has made it difficult to create a valid future interest. Unless a defeasible estate is clearly intended, modern courts will construe the language against this type of estate. Three types of defeasible estates are the fee simple determinable, the fee simple subject to an executory limitation or interest, and the fee simple subject to a condition subsequent. A life estate may also be defeasible. Because a defeasible estate always grants less than a full fee simple, a defeasible estate wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defeasible Reasoning
In philosophy of logic, defeasible reasoning is a kind of provisional reasoning that is rationally compelling, though not deductively valid. It usually occurs when a rule is given, but there may be specific exceptions to the rule, or subclasses that are subject to a different rule. Defeasibility is found in literatures that are concerned with argument and the process of argument, or heuristic reasoning. Defeasible reasoning is a particular kind of non-demonstrative reasoning, where the reasoning does not produce a full, complete, or final demonstration of a claim, i.e., where fallibility and corrigibility of a conclusion are acknowledged. In other words, defeasible reasoning produces a contingent statement or claim. Defeasible reasoning is also a kind of ampliative reasoning because its conclusions reach beyond the pure meanings of the premises. Defeasible reasoning finds its fullest expression in jurisprudence, ethics and moral philosophy, epistemology, pragmatics and con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
Common law (also known as judicial precedent, judge-made law, or case law) is the body of law primarily developed through judicial decisions rather than statutes. Although common law may incorporate certain statutes, it is largely based on precedent—judicial rulings made in previous similar cases. The presiding judge determines which precedents to apply in deciding each new case. Common law is deeply rooted in Precedent, ''stare decisis'' ("to stand by things decided"), where courts follow precedents established by previous decisions. When a similar case has been resolved, courts typically align their reasoning with the precedent set in that decision. However, in a "case of first impression" with no precedent or clear legislative guidance, judges are empowered to resolve the issue and establish new precedent. The common law, so named because it was common to all the king's courts across England, originated in the practices of the courts of the English kings in the centuries fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Condition Subsequent
In philosophical and legal contexts, a condition subsequent is a defined event which terminates a proposition or a contractual obligation. In contrast to a condition precedent, a condition subsequent brings the event (or obligation) to an end, rather than being necessary for to the event or obligation to occur. In law, a condition subsequent is an event, or state of affairs, whose occurrence is automatically construed to terminate the obligation of one party to the other. One example is that, if a man agreed to pay a barber to shave his beard, the barber then failing to do so would terminate the man's obligation to pay. An exit clause is a form of condition subsequent that can serve as a form of insurance for the party to whom it applies. In contract law, a contract may be frustrated on the occurrence of a condition subsequent: in a contract to provide a music hall for a musical performance, the burning down of the music hall may frustrate the contract and automatically bring it ... [...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, Law enforcement in the United Kingdom#Powers of officers, 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 reverter, reversion interest in the grantor if the condition fails; this is a fee simple conditional. History ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Future Interest
In property law and real estate, a future interest is a legal right to property ownership that does not include the right to present possession or enjoyment of the property. Future interests are created on the formation of a defeasible estate; that is, an estate with a condition or event triggering transfer of possessory ownership. A common example is the landlord-tenant relationship. The landlord may own a house, but has no general right to enter it while it is being rented. The conditions triggering the transfer of possession, first to the tenant then back to the landlord, are usually detailed in a lease. As a slightly more complicated example, suppose O is the owner of Blackacre. Consider what happens when O transfers the property, "to A for life, then to B". Person A acquires possession of Blackacre. Person B does not receive any right to possess Blackacre immediately; however, once person A dies, possession will fall to person B (or his estate, if he died before person A) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Possibility Of Reverter
In property law and real estate, a future interest is a legal right to property ownership that does not include the right to present possession or enjoyment of the property. Future interests are created on the formation of a defeasible estate; that is, an estate with a condition or event triggering transfer of possessory ownership. A common example is the landlord-tenant relationship. The landlord may own a house, but has no general right to enter it while it is being rented. The conditions triggering the transfer of possession, first to the tenant then back to the landlord, are usually detailed in a lease. As a slightly more complicated example, suppose O is the owner of Blackacre. Consider what happens when O transfers the property, "to A for life, then to B". Person A acquires possession of Blackacre. Person B does not receive any right to possess Blackacre immediately; however, once person A dies, possession will fall to person B (or his estate, if he died before person A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kentucky
Kentucky (, ), officially the Commonwealth of Kentucky, is a landlocked U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders Illinois, Indiana, and Ohio to the north, West Virginia to the northeast, Virginia to the east, Tennessee to the south, and Missouri to the west. Its northern border is defined by the Ohio River. Its capital is Frankfort, Kentucky, Frankfort and its List of cities in Kentucky, most populous city is Louisville, Kentucky, Louisville. As of 2024, the state's population was approximately 4.6 million. Previously part of Colony of Virginia, colonial Virginia, Kentucky was admitted into the Union as the fifteenth state on June 1, 1792. It is known as the "Bluegrass State" in reference to Kentucky bluegrass, a species of grass introduced by European settlers which has long supported the state's thoroughbred horse industry. The fertile soil in the central and western parts of the state led to the development ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rule Against Perpetuities
The rule against perpetuities is a legal rule in common law that prevents people from using legal instruments (usually a deed or a will) to exert control over the ownership of private property for a time long beyond the lives of people living at the time the instrument was written. Specifically, the rule forbids a person from creating future interests (traditionally contingent remainders and executory interests) in property that would vest beyond 21 years after the lifetimes of those living at the time of creation of the interest, often expressed as a "life in being plus twenty-one years". In essence, the rule prevents a person from putting qualifications and criteria in a deed or a will that would continue to affect the ownership of property long after he or she has died, a concept often referred to as control by the "dead hand" or "'' mortmain''". The basic elements of the rule against perpetuities originated in England in the 17th century and were "crystallized" into a sin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Right Of Entry
Right of entry refers to one's right to take or resume possession of land, or the right of a person to go onto another's real property without committing trespass. It also refers to a grantor's power to retake real estate from a grantee A grant, in law, is a transfer of property, generally from a person or other entity giving the property (the grantor) to a person or entity receiving the property (the grantee). Historically, a grant was a transfer by deed of that which could not ... in the case of a fee simple subject to condition subsequent. References Real property law {{law-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fee Simple Absolute
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 lan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Right Of Entry
Right of entry refers to one's right to take or resume possession of land, or the right of a person to go onto another's real property without committing trespass. It also refers to a grantor's power to retake real estate from a grantee A grant, in law, is a transfer of property, generally from a person or other entity giving the property (the grantor) to a person or entity receiving the property (the grantee). Historically, a grant was a transfer by deed of that which could not ... in the case of a fee simple subject to condition subsequent. References Real property law {{law-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
