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Fee Tail
In English common law, fee tail or entail is a form of trust established by deed or settlement which restricts the sale or inheritance of an estate in real property and prevents the property from being sold, devised by will, or otherwise alienated by the tenant-in-possession, and instead causes it to pass automatically by operation of law to an heir determined by the settlement deed. The term ''fee tail'' is from Medieval Latin , which means "cut(-short) fee" and is in contrast to "fee simple" where no such restriction exists and where the possessor has an absolute title (although subject to the allodial title of the monarch) in the property which he can bequeath or otherwise dispose of as he wishes. Equivalent legal concepts exist or formerly existed in many other European countries and elsewhere. Purpose The fee tail allowed a patriarch to perpetuate his blood-line, family-name, honour and armorials in the persons of a series of powerful and wealthy male descendants. By kee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
In law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions."The common law is not a brooding omnipresence in the sky, but the articulate voice of some sovereign or quasi sovereign that can be identified," ''Southern Pacific Company v. Jensen'', 244 U.S. 205, 222 (1917) (Oliver Wendell Holmes, dissenting). By the early 20th century, legal professionals had come to reject any idea of a higher or natural law, or a law above the law. The law arises through the act of a sovereign, whether that sovereign speaks through a legislature, executive, or judicial officer. The defining characteristic of common law is that it arises as precedent. Common law courts look to the past decisions of courts to synthesize the legal principles of past cases. '' Stare decisis'', the principle that cases should be decided according to consistent principled rules so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt
Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The debt may be owed by sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. Loans, bonds, notes, and mortgages are all types of debt. In financial accounting, debt is a type of financial transaction, as distinct from equity. The term can also be used metaphorically to cover moral obligations and other interactions not based on a monetary value. For example, in Western cultures, a person who has been helped by a second person is sometimes said to owe a "debt of gratitude" to the second person. Etymology The English term "debt" was first used in the late 13th century. The term "debt" comes ... [...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] |
Law Of Property Act 1925
The Law of Property Act 1925c 20 is a statute of the United Kingdom Parliament. It forms part of an interrelated programme of legislation introduced by Lord Chancellor Lord Birkenhead between 1922 and 1925. The programme was intended to modernise the English law of real property. The Act deals principally with the transfer of freehold or leasehold land by deed. The LPA 1925, as amended, provides the core of English land law, particularly as regards many aspects of freehold land which is itself an important consideration in all other types of interest in land. Background The keynote policy of the act was to reduce the number of legal estates to two – freehold and leasehold – and generally to make the transfer of interests in land easier for purchasers. Other policies were to regulate mortgages and as to leases, to regulate mainly their assignment, and to tackle some of the '' lacunae'', ambiguities and shortcomings in the law of property. Innovations included the default c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statute Of Westminster 1285
The Statute of Westminster of 1285, also known as the Statute of Westminster II or the Statute of Westminster the Second, like the Statute of Westminster 1275, is a code in itself, and contains the famous clause '' De donis conditionalibus'', one of the fundamental institutes of the medieval land law of England. William Stubbs says of it: Most of the statute was repealed in the Republic of Ireland in 1983 and the rest in 2009. Chapters The Statute of Westminster II is composed of 50 chapters. The '' de donis conditionalibus'' clause is chapter 1, and is still in force. Chapter 46 became known as the Commons Act 1285 and was repealed in England in 2006, and in Wales in 2007. at legislation.gov.uk See also * |
Commoner
A commoner, also known as the ''common man'', ''commoners'', the ''common people'' or the ''masses'', was in earlier use an ordinary person in a community or nation who did not have any significant social status, especially a member of neither royalty, nobility, nor any part of the aristocracy. Depending on culture and period, other elevated persons (such members of clergy) may have had higher social status in their own right, or were regarded as commoners if lacking an aristocratic background. This class overlaps with the legal class of people who have a property interest in common land, a longstanding feature of land law in England and Wales. Commoners who have rights for a particular common are typically neighbors, not the public in general. History Various states throughout history have governed, or claimed to govern, in the name of ''the common people''. In Europe, a distinct concept analogous to ''common people'' arose in the Classical civilization of ancient Rome aro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Primogeniture
Primogeniture ( ) is the right, by law or custom, of the firstborn legitimate child to inherit the parent's entire or main estate in preference to shared inheritance among all or some children, any illegitimate child or any collateral relative. In most contexts, it means the inheritance of the firstborn son (agnatic primogeniture); it can also mean by the firstborn daughter (matrilineal primogeniture). Description The common definition given is also known as male-line primogeniture, the classical form popular in European jurisdictions among others until into the 20th century. In the absence of male-line offspring, variations were expounded to entitle a daughter or a brother or, in the absence of either, to another collateral relative, in a specified order (e.g. male-preference primogeniture, Salic primogeniture, semi-Salic primogeniture). Variations have tempered the traditional, sole-beneficiary, right (such as French appanage) or, in the West since World War II, eliminate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
French Revolution
The French Revolution ( ) was a period of radical political and societal change in France that began with the Estates General of 1789 and ended with the formation of the French Consulate in November 1799. Many of its ideas are considered fundamental principles of liberal democracy, while phrases like ''liberté, égalité, fraternité'' reappeared in other revolts, such as the 1917 Russian Revolution, and inspired campaigns for the abolition of slavery and universal suffrage. The values and institutions it created dominate French politics to this day. Its causes are generally agreed to be a combination of social, political and economic factors, which the ''Ancien Régime'' proved unable to manage. In May 1789, widespread social distress led to the convocation of the Estates General, which was converted into a National Assembly in June. Continuing unrest culminated in the Storming of the Bastille on 14 July, which led to a series of radical measures by the Assembly, i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Landed Gentry
The landed gentry, or the ''gentry'', is a largely historical British social class of landowners who could live entirely from rental income, or at least had a country estate. While distinct from, and socially below, the British peerage, their economic base in land was often similar, and some of the landed gentry were wealthier than some peers. Many gentry were close relatives of peers, and it was not uncommon for gentry to marry into peerage. It is the British element of the wider European class of gentry. With or without noble title, owning rural land estates often brought with it the legal rights of lord of the manor, and the less formal name or title of ''squire'', in Scotland laird. Generally lands passed by primogeniture, and the inheritances of daughters and younger sons were in cash or stocks, and relatively small. Typically the gentry farmed some of their land, as well as exploiting timber, minerals such as coal, and owning mills and other sources of income, but ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Feudal
Feudalism, also known as the feudal system, was the combination of the legal, economic, military, cultural and political customs that flourished in Middle Ages, medieval Europe between the 9th and 15th centuries. Broadly defined, it was a way of structuring society around relationships that were derived from the holding of land in exchange for service or labour. Although it is derived from the Latin word ''feodum'' or ''feudum'' (fief), which was used during the Medieval period, the term ''feudalism'' and the system which it describes were not conceived of as a formal political system by the people who lived during the Middle Ages. 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heir
Inheritance is the practice of receiving private property, titles, debts, entitlements, privileges, rights, and obligations upon the death of an individual. The rules of inheritance differ among societies and have changed over time. Officially bequeathing private property and/or debts can be performed by a testator via will, as attested by a notary or by other lawful means. Terminology In law, an ''heir'' is a person who is entitled to receive a share of the deceased's (the person who died) property, subject to the rules of inheritance in the jurisdiction of which the deceased was a citizen or where the deceased (decedent) died or owned property at the time of death. The inheritance may be either under the terms of a will or by intestate laws if the deceased had no will. However, the will must comply with the laws of the jurisdiction at the time it was created or it will be declared invalid (for example, some states do not recognise handwritten wills as valid, or only in s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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