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Rule In Shelley's Case
The Rule in ''Shelley's Case'' is a rule of law that may apply to certain future interests in real property and trusts created in common law jurisdictions.Moynihan, Cornelius, ''Introduction to the Law of Real Property'', 3d Edition, West Group (St. Paul: 2002). It was applied as early as 1366 in ''The Provost of Beverly's Case'' but in its present form is derived from ''Shelley's Case'' (1581), in which counsel stated the rule as follows: The rule was reported by Lord Coke in England in the 17th century as well-settled law. In England, it was abolished by the Law of Property Act 1925. During the twentieth century, it was abolished in most common law jurisdictions, including the majority of the states of the United States. However, in states where the abrogation has been interpreted to apply only to conveyances made after abrogation, the relevance of the rule today varies from jurisdiction to jurisdiction and in many states remains unclear. History The 1366 application of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Future Interests
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] |
Sion Monastery
Syon Abbey , also called simply Syon, was a dual monastery of men and women of the Bridgettine Order, although it only ever had abbesses during its existence. It was founded in 1415 and stood, until its demolition in the 16th century, on the left (northern) bank of the River Thames within the parish of Isleworth, in the county of Middlesex, on or near the site of the present Georgian mansion of Syon House, today in the London Borough of Hounslow. It was named after the biblical holy "City of David which is Zion" (1 Kings 8:1), built on the eponymous Mount Zion (or Sion, Syon, etc.). At the time of the dissolution, the abbey was the wealthiest religious house in England. Syon Abbey maintained a substantial library, with a collection for the monks and another for the nuns. When Catherine of Siena's ''Dialogue of Divine Revelation'' was translated into English for the abbey, it was given a new title, "''The Orchard of Syon,''" and included a separate prologue written to the nu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merger Doctrine (property Law)
Merger at conveyance In the law of real property, the merger doctrine stands for the proposition that the contract A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to tr ... for the conveyance of property merges into the deed of conveyance; therefore, any guarantees made in the contract that are not reflected in the deed are extinguished when the deed is conveyed to the buyer of the property. The merger doctrine traditionally applies only to covenants of title; covenants relating to the physical condition of the property (say, a promise that the furnace is in good working order) will not merge, and will not extinguish. The parties may by contract abrogate the doctrine and provide that some or all terms of the contract survive the closing and delivery of the deed. Merger of real propert ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vested Remainder
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 ''contin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blackacre
Blackacre, Whiteacre, Greenacre, Brownacre, and variations are the placeholder names used for fictitious estate (law), estates in land. The names are used by professors of law in common law jurisdictions, particularly in the area of real property and occasionally in contracts, to discuss the rights of various parties to a piece of land. A typical law school or bar exam question on real property might say: Where more than one estate is needed to demonstrate a pointperhaps relating to a dispute over boundaries, easements or riparian rightsa second estate will usually be called Whiteacre, a third, Greenacre, and a fourth, Brownacre. Origin Jesse Dukeminier, author of one of the leading series of textbooks on property, traces the use of Blackacre and Whiteacre for this purpose to a 1628 treatise by Sir Edward Coke. Dukeminier suggests that the term might originate with references to colors associated with certain agriculture, crops ("peas and beans are black, cereal, corn and potat ... [...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 ''conting ... [...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] |
Life Tenant
In common law and statutory law, a life estate (or life tenancy) is the ownership of immovable property for the duration of a person's life. In legal terms, it is an estate in real property that ends at death when ownership of the property may revert to the original owner, or it may pass to another person. The owner of a life estate is called a "life tenant". In the combined jurisdiction of England and Wales since 1925 a freehold estate intended to be 'held' as a life interest takes effect only as an interest enjoyed in equity, specifically as an interest in possession trust. The other type of land ownership is leasehold and although most long leases are for a period of between 99 and 999 years 'leases for life' will be interpreted in often unpredictable ways as either as a licence or a lease. Principles The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Estate Tax
An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate (money and property) of a person who has died. International tax law distinguishes between an estate tax and an inheritance tax—an estate tax is assessed on the assets of the deceased, while an inheritance tax is assessed on the legacies received by the estate's beneficiaries. However, this distinction is not always observed; for example, the UK's "inheritance tax" is a tax on the assets of the deceased, and strictly speaking is therefore an estate tax. For historical reasons, the term death duty is still used colloquially (though not legally) in the UK and some Commonwealth countries. For political, statutory and other reasons, the term death tax is sometimes used to refer to estate tax in the United States. Varieties of inheritance and estate taxes * Belgium, droits de succession or erfbelasting (Inheritance tax). Collected at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Common Law
English law is the common law legal system of England and Wales, comprising mainly criminal law and civil law, each branch having its own courts and procedures. Principal elements of English law Although the common law has, historically, been the foundation and prime source of English law, the most authoritative law is statutory legislation, which comprises Acts of Parliament, regulations and by-laws. In the absence of any statutory law, the common law with its principle of '' stare decisis'' forms the residual source of law, based on judicial decisions, custom, and usage. Common law is made by sitting judges who apply both statutory law and established principles which are derived from the reasoning from earlier decisions. Equity is the other historic source of judge-made law. Common law can be amended or repealed by Parliament. Not being a civil law system, it has no comprehensive codification. However, most of its criminal law has been codified from its common law o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Easter Term
Easter term is the summer term at the University of Cambridge, University of Wales, Lampeter, University of Durham, and formerly University of Newcastle upon Tyne (before 2004 , UK, 25 February 2004.), in the . It runs from April to June. The expression is also used for the third term of the i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of King's Bench (England)
The Court of King's Bench, formally known as The Court of the King Before the King Himself, was a court of common law in the English legal system. Created in the late 12th to early 13th century from the '' curia regis'', the King's Bench initially followed the monarch on his travels. The King's Bench finally joined the Court of Common Pleas and Exchequer of Pleas in Westminster Hall in 1318, making its last travels in 1421. The King's Bench was merged into the High Court of Justice by the Supreme Court of Judicature Act 1873, after which point the King's Bench was a division within the High Court. The King's Bench was staffed by one Chief Justice (now the Lord Chief Justice of England and Wales) and usually three Puisne Justices. In the 15th and 16th centuries, the King's Bench's jurisdiction and caseload was significantly challenged by the rise of the Court of Chancery and equitable doctrines as one of the two principal common law courts along with the Common Pleas. To recov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
