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Lease And Release
Lease and release is literally the lease (tenancy) of non-tenanted property by its owner followed by a release (relinquishment) of the landlord's interest in the property. This sequence of transactions was commonly used to transfer full title to real estate under real property law. ''Lease and release'' was a mode of conveyance of freehold estates formerly common in England and in New York for tax avoidance and speed. Between its parties it achieves the same outcome as a deed of grant/transfer/conveyance. History Lease and release was: "a species of conveyance, invented by Serjeant Moore, soon after the enactment of the statute of uses. It is thus contrived; a lease, in fact being a bargain and sale upon some pecuniary consideration for one year, is made by a tenant of the whole freehold alienation_(property_law).html"_;"title="ith_no_fetter_on_alienation_(property_law)">alienationto_the_ alienation">alienation_(property_law).html"_;"title="ith_no_fetter_on_alienation_(propert ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lease
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. Basically 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 can r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buyer
Procurement is the method of discovering and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. When a government agency buys goods or services through this practice, it is referred to as public procurement. Procurement as an organizational process is intended to ensure that the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risks such as exposure to fraud and collusion. Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and fluctuations in the prices of goods. Organisations which have adopted a corporate social responsibility perspective are also likely to require their purchasing activity to take wide ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real 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 law, and if property is violated, one could sue under 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. History Though the Napoleonic code was among the first government acts of modern times to introduce the notion of absolute ownership into statute, protection of personal property rights was present in medieval Islamic law and jurisprudence, and in more feudalist forms in the common law courts of medieval and early modern England. Theory The word ''property'', in everyday usage, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deed
In common law, a deed is any legal instrument in writing which passes, affirms or confirms an interest, right, or property and that is signed, attested, delivered, and in some jurisdictions, sealed. It is commonly associated with transferring (conveyancing) title to property. The deed has a greater presumption of validity and is less rebuttable than an instrument signed by the party to the deed. A deed can be unilateral or bilateral. Deeds include conveyances, commissions, licenses, patents, diplomas, and conditionally powers of attorney if executed as deeds. The deed is the modern descendant of the medieval charter, and delivery is thought to symbolically replace the ancient ceremony of livery of seisin. The traditional phrase ''signed, sealed and delivered'' refers to the practice of seals; however, attesting witnesses have replaced seals to some extent. Agreements under seal are also called contracts by deed or ''specialty''; in the United States, a specialty is en ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Recital (law)
In law, a recital (from la, recitare, "to read out") consists of an account or repetition of the details of some act, proceeding or fact. Particularly, in law, that part of a legal document—such as a lease, which contains a statement of certain facts—contains the purpose for which the deed is made. In European Union law, a recital is a text that sets out reasons for the provisions of an act, while avoiding normative language and political argumentation. A recital may also appear at the end of a document, as some 170 have in the new GDPR The General Data Protection Regulation (GDPR) is a European Union regulation on data protection and privacy in the EU and the European Economic Area (EEA). The GDPR is an important component of EU privacy law and of human rights law, in parti .... Recitals have been demonstrated to play a limited role in the interpretation of Union legislation in the courts in the case of ambiguity in a particular provision within the legislation. By co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statute Of Uses
The Statute of Uses (27 Hen 8 c 10 — enacted in 1536) was an Act of the Parliament of England that restricted the application of uses in English property law. The Statute ended the practice of creating uses in real property by changing the purely equitable title of beneficiaries of a use into absolute ownership with the right of seisin (possession). The Statute was conceived by Henry VIII of England as a way to rectify his financial problems by simplifying the law of uses, which moved land outside the royal tax revenue (ie., through royal fees called feudal incidents), traditionally imposed through seisin. At the time, land could not be passed by a will, and when it devolved to the heir upon death was subject to taxes. Hence, the practice evolved of landowners creating a use of the land to enable it to pass to someone other than their legal heir upon their death, or simply to try and reduce the incidence of taxation. The King's initial attempt in 1529, which would have rem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statute Of Enrolments
The Statute of Enrolments was a 1536 Act of the Parliament of England that regulated the sale and transfer of landsmen. The Statute is commonly considered an addition to the Statute of Uses, which was passed within the same Parliament, probably due to an omission in the Statute of Uses. It is thought to have been intended to prevent secret conveyancing, although modern academics instead assert that it was so Henry VIII could keep an accurate record of who his freeholders were. The Statute, which only provided for estates "of inheritance and freehold", was easily evaded through the sale of an estate for a limited time period, as leasehold, something given validity at the common law level in 1621 by ''Lutwich v Mitton''. Statute The Statute was intended as an addition to the Statute of Uses, and was passed in the same session of Parliament; Edward Coke, for example, referred to it as "but a Proviso" to the Statute of Uses. The Statute was drafted quickly, by the Clerk of the House ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seisin
Seisin (or seizin) denotes the legal possession of a feudal fiefdom or fee, that is to say an estate in land. It was used in the form of "the son and heir of X has obtained seisin of his inheritance", and thus is effectively a term concerned with conveyancing in the feudal era. The person holding such estate is said to be "seized of it", a phrase which commonly appears in inquisitions ''post mortem'' (i.e. "The jurors find that X died seized of the manor of ..."). The monarch alone "held" all the land of England by his allodial right and all his subjects were merely his tenants under various contracts of feudal tenure. Etymology Seisin comes from Middle English ''saysen'', ''seysen'', in the legal sense of to put in possession of, or to take possession of, hence, to grasp, to seize. The Old French variations ''seisir'', ''saisir'', are from Low Latin ''sacire'', generally referred to the same source as Gothic ''satjan'', Old English ''settan'', to put in place, set. Tenures subj ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quitclaim
Generally, a quitclaim is a formal renunciation of a legal claim against some other person, or of a right to land. A person who quitclaims renounces or relinquishes a claim to some legal right, or transfers a legal interest in land. Originally a common law concept dating back to Medieval England, the expression is in modern times mostly restricted to North American law, where it often refers specifically to a transfer of ownership or some other interest in real property. Commonly, quitclaims are used in situations where a ''grantor'' transfers any interest they have in property to a recipient (the ''grantee'') but without offering any guarantee as to the extent of that interest. There may even be no guarantee that the grantor owns the property or has any legal interest in it whatsoever. Specific situations where a precise definition of the grantor's interest (if any) may be unnecessary include property transferred as a gift, to a family member, or into a business entity. The legal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 an act of 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 lease, particularly in c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Livery
A livery is an identifying design, such as a uniform, ornament, symbol or insignia that designates ownership or affiliation, often found on an individual or vehicle. Livery will often have elements of the heraldry relating to the individual or corporate body feature in the livery. Alternatively, some kind of a personal emblem or badge, or a distinctive colour, is featured. The word itself derives from the French ''livrée'', meaning ''dispensed, handed over''. Most often it would indicate that the wearer of the livery was a servant, dependant, follower or friend of the owner of the livery, or, in the case of objects, that the object belonged to them. In the late medieval phenomenon of bastard feudalism, livery badges worn by the "retainers" of great lords, sometimes in effect private armies, became a great political concern in England. Etymology "In the ''Black'' Book of 1483, it was laid down that each person should receive "... for his Livery at night, half a chet loaf, o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treatise
A treatise is a formal and systematic written discourse on some subject, generally longer and treating it in greater depth than an essay, and more concerned with investigating or exposing the principles of the subject and its conclusions."Treatise." Merriam-Webster Online Dictionary. Accessed September 12, 2020. A monograph is a treatise on a specialized topic. Etymology The word 'treatise' first appeared in the fourteenth century as the Medieval English word ''tretis'', which evolved from the Medieval Latin ''tractatus'' and the Latin ''tractare'', meaning to treat or to handle. Historically significant treatises Table The works presented here have been identified as influential by scholars on the development of human civilization. Discussion of select examples Euclid's ''Elements'' Euclid's ''Elements'' has appeared in more editions than any other books except the ''Bible'' and is one of the most important mathematical treatises ever. It has been translated to numer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
