entailed interest
An interest that devolves through lineal descendants only as a result of a fee tail.
Search Results for: FEE INTEREST
possibility of reverter
possibility of reverter. A reversionary interest that is subject to a condition precedent; specif., a future interest retained by a grantor after conveying a fee simple determinable, so that the grantee’s estate terminates automatically and reverts to the grantor if the terminating event ever occurs. • In this type of interest, the grantor transfers an
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power of termination
power of termination. A future interest retained by a grantor after conveying a fee simple subject to a condition subsequent, so that the grantee’s estate terminates (upon breach of the condition) only if the grantor exercises the right to retake it. — Also termed right of entry; right of reentry; right of entry for breach
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protector
protector. 1. An unrelated, disinterested overseer of a trust who possesses broader authority than a trustee. • Protectors are usu. appointed to manage offshore trusts, but the concept is slowly being applied to domestic trusts. Protectors often possess broad powers to act for the benefit of the trust, as by removing trustees and clarifying or
absolute title
absolute title 〈英〉绝对地产权 根据1925年《土地登记法》〔Land Registration Act〕，作为完全保有地产所有人首先进行登记者，对登记地产享有绝对的权利，包括以现实占有形式享有的非限嗣继承地产权〔estate in fee simple in possession〕及所有相关权利、特权和其他附属利益，但受以下情形约束：１登记册上明示的义务和其他进入权；２影响到登记地产的优先权益〔overriding interest〕——除非登记册上有相反表示；３为他人利益保有地产时，保有人明示的次位利益〔minor interest〕。租赁地产的绝对地产权与完全保有地产类似，但受租约条款的限制。
ubi aberat animus foenerandi
ubi aberat animus foenerandi (yoo-bI [schwa]-ber-at an-[schwa]-m[schwa]s fee-n[schwa]-ran-dI). [Latin] Hist. Where the intention of taking of a usurious interest was wanting. • A lender was not liable for usurious provisions in a contract unless the lender had the requisite intention of exacting the money. Cf. USURA VELATA.
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entail
entail, n. A fee abridged or limited to the owner’s issue or class of issue rather than descending to all the heirs. — Also termed (in Scots law) tailzie. See BARRING OF ENTAIL; FEE TAIL. [Cases: Estates in Property 12. C.J.S. Estates §§ 22–27.] — entailable, adj. “Entail is fee entailed, viz; abridged, limited, and
multidisciplinary practice
multidisciplinary practice. A fee-sharing association of lawyers and nonlawyers in a firm that delivers both legal and nonlegal services. • Rule 5.4 of the Model Rules of Professional Conduct effectively bars multidisciplinary practice. Under this rule, a lawyer cannot (1) share legal fees with nonlawyers, (2) form a partnership involving the practice of law with
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elective share
elective share. Wills & estates. The percentage of a deceased spouse’s estate, set by statute, that a surviving spouse (or sometimes a child) may choose to receive instead of taking under a will or in the event of being unjustifiably disinherited. — Also termed forced share; statutory share; statutory forced share. See RIGHT OF ELECTION.
innocent conveyance
Hist. A leaseholder’s conveyance of the leaseholder’s property interest — that is, something less than a fee simple. • The conveyance is of an equitable interest. [Cases: Landlord and Tenant 74. C.J.S. Landlord and Tenant §§ 30, 53.]
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