Ground Rents -- a Term Enmeshed in Ambiguity
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Leases and the Rule Against Perpetuities
LEASES AND THE RULE AGAINST PERPETUITIES EDWIN H. ABBOT, JUNIOR of the Boston Bar INTRODUCTION The purpose of this article is to consider the application of the rule against perpetuities to leases. A leasehold estate has certain peculiari- ties which distinguish it, as a practical matter, from other estates in land. At common law it required no livery of seisin, and so could be created to begin in futuro. Although it is not an estate of freehold the duration of the estate may be practically unlimited-it may be for 999 years or even in perpetuity. The reversion after an estate for years is necessarily vested, no matter how long the term of the lease may be, yet the leasehold estate is generally terminable at an earlier time upon numerous conditions subsequent, defined in the lease. In other words the leasehold estate determines without condition by the effluxion of the term defined in the lease but such termination may be hastened by the happening of one or more conditions. The application of the rule against perpetuities to such an estate presents special problems. The purpose of this article is to consider the application of the rule to the creation, termination and renewal of leases; and also its effect upon options inserted in leases. II CREATION A leasehold estate may be created to begin in futuro, since livery of seisin was not at common law required for its creation. Unless limited by the rule a contingent lease might be granted to begin a thousand years hence. But the creation of a contingent estate for years to begin a thousand years hence is for practical reasons just as objectionable as the limitation of a contingent fee to begin at such a remote period by means of springing or shifting uses, or by the device of an execu- tory devise. -
Convey 04 Eug. Amend 06 Aug. Final
LAW SOCIETY CONVEYANCING HANDBOOK CHAPTER 4 LANDLORD AND TENANT LEASES OF meeting of the solicitors acting for Lending Institutions in Dublin has considered the DWELLINGHOUSES Aeffect of Section 2 of the Landlord and Tenant (Ground Rents) (No. 1) Bill 1977, having regard to the practice of leases of dwellinghouses on building estates being executed 1978 (NO.1) ACT by all parties well in advance of the completion of the houses, and being held in escrow by the lessor’s solicitors, usually to enable stamp duty on the lease to be assessed and impressed prior to completion. It was the unanimous view of the solicitors present that such a lease even though dated prior to the date of coming into force of the Act would be void under the Act if it were held in escrow at the date of the passing of the Act and then delivered to the purchasers afterwards. The meeting further considered the difficulties which would face a Lending Institution’s solicitor presented, shortly after the passing of the Act, with a lease dated prior to the date of passing of the Act, of deciding whether such a lease were void because it had been held in escrow or valid because it had been delivered prior to the passing of the Act. The view of the meeting was that a Lending Institution solicitor could not undertake the burden of making such a decision. The meeting noted that the provisions of Section 2, Sub-section (4) of the Bill which protected the position of a purchaser of a leasehold interest deemed void under Section 2, Sub-section (1), did not extend to a mortgagee and accordingly agreed that the solicitors acting for Lending Institutions would not be able to accept leases of dwellinghouses after the date of coming into force of the Act even though the leases might have been dated prior to the passing of the Act. -
False Natural Law: Professor Goble's Straw Man, The;Note Goerge W
Notre Dame Law School NDLScholarship Natural Law Forum 1-1-1956 False Natural Law: Professor Goble's Straw Man, The;Note Goerge W. Constable Follow this and additional works at: http://scholarship.law.nd.edu/nd_naturallaw_forum Part of the Law Commons Recommended Citation Constable, Goerge W., "False Natural Law: Professor Goble's Straw Man, The;Note" (1956). Natural Law Forum. Paper 9. http://scholarship.law.nd.edu/nd_naturallaw_forum/9 This Note is brought to you for free and open access by NDLScholarship. It has been accepted for inclusion in Natural Law Forum by an authorized administrator of NDLScholarship. For more information, please contact [email protected]. THE FALSE NATURAL LAW: PROFESSOR GOBLE'S STRAW MAN To ALL WHO FOLLOW the trends here and abroad in legal philosophy, it has become apparent that the tide which has run so strongly against natural law theory for many decades, has now begun to turn. As the fatal emptiness in the heart of positivism becomes more exposed with each fresh assault upon freedom by evil ideologies and with every new example of antisocial individualism, the natural law position wins more attention and regains more of its ancient prestige.' For the natural law position, in the classical and Scholastic sense, is gradually revealing itself for what it is-as a strong central defense point between two extremes, seeking at once to secure for us proper individual freedoms and to impose upon us proper social duties.2 Significant in this turn of the tide is the article of George W. Goble entitled "Nature, Man and Law: The True Natural Law" (A.B.A.J., May 1955). -
Ground Rents in Maryland;
A-\ GROUND RENTS IN MARYLAND; WITH AN INTRODUCTION CONCERNING THE TENURE OF LAND UNDER THE PROPRIETARY. BY LEWIS MAYER, Of the Baltimore Bar. WITH AN ARTICLE ON MANORS IN MARYLAND BY JOHN JOHNSON, [K. AND THE RECORD OF THE COURT-BARON AND COURT- LEET OF ST. CLEMENT'S MANOR, REPRINTED FROM THE PUBLICATIONS OF THE JOHNS HOPKINS UNIVERSITY. U ALTI MORE: CUSHINGS & BAILEY. 1883. Entered according to Act of Congress in the year 1883,by OTSHIN&S & BAILEY, in the office of the Librarian of Congress at Washington. PBESS OF ISAAC FEIEPHNWALD, BALTIMORE, ID. PREFACE. A treatise on Ground Rents in Maryland, a form of investment peculiar to this State, and which is now attracting a good deal of attention, it was thought, might prove acceptable to lawyers, students of law, investigators of local institutions, and to those who, from a business point of view or otherwise, might be interested in the matter. The undersigned has accordingly written this little book, in the hope that it may serve its purpose of fur- nishing definite information on the subject in question. As speculation on the origins of all things is now in vogue, an undertaking of this sort would be incom- plete, if it did not offer some suggestions as to the origin of our system of ground rents. It was, there- fore, necessary to make Lord Baltimore's Charter the starting point of the historico-legal portion of the work. From that instrument the tenure of land under the Proprietary is traced and explained; the evolution of ground rents out of that tenure is then shown, and reasons are assigned why they happened to assume their present form. -
Recent Developments in Maryland's Intestate Succession Law
University of Baltimore Law Forum Volume 13 Article 9 Number 1 Fall 1982 1982 Recent Developments in Maryland's Intestate Succession Law Follow this and additional works at: http://scholarworks.law.ubalt.edu/lf Part of the Law Commons Recommended Citation (1982) "Recent Developments in Maryland's Intestate Succession Law," University of Baltimore Law Forum: Vol. 13: No. 1, Article 9. Available at: http://scholarworks.law.ubalt.edu/lf/vol13/iss1/9 This Article is brought to you for free and open access by ScholarWorks@University of Baltimore School of Law. It has been accepted for inclusion in University of Baltimore Law Forum by an authorized administrator of ScholarWorks@University of Baltimore School of Law. For more information, please contact [email protected]. FORUM In so doing, the court indulged in Additionally, to best effectuate the a lengthy review of the statutory imposition of its holding, the court Recent history of MPDA and of the pre- adopted an interpretation of the term vailing doctrines which other states "acquired" appearing in § 3-6A- Developments in with similar statutes have employed 01(e) as: Maryland's Intestate in enforcing those statutes. While The on-going process of mak- stressing the importance of protect- ing payment for property. Tib- Succession Law ing the interests of spouses who had bets, 406 A.2d at 77. Under this made monetary and nonmonetary definition, characterization of contribution to the marital unit and nonmarital or marital property The 1982 amendment to Md. Est. residence, the court considered and depends upon the source of & Trusts Code Ann. § 3-102 (1974), rejected two competing theories each contribution as payments is a welcome change to Maryland's adopted by a majority of its sister are made, rather than at the time jurisdictions: (1) the "inception of intestate succession law. -
Water Rights and Responsibilities in the Twenty-First Century: a Foreword to the Proceedings of the 2001 Symposium on Managing Hawai‘I’S Public Trust Doctrine
WATER RIGHTS AND RESPONSIBILITIES IN THE TWENTY-FIRST CENTURY: A FOREWORD TO THE PROCEEDINGS OF THE 2001 SYMPOSIUM ON MANAGING HAWAI‘I’S PUBLIC TRUST DOCTRINE By Denise E. Antolini1 I. INTRODUCTION Modern water allocation decisions inevitably involve difficult choices among competing consumptive and natural uses that are highly valued by diverse but equally passionate sectors of the community.2 Particularly in an island state like Hawai‘i, with its limited sources of fresh water, fragile environment, and unique economic challenges, debates over re-allocation of precious water resources and the merits of stream restoration are likely to become only more intense as human needs for 1 Assistant Professor of Law at the William S. Richardson School of Law, University of Hawai`i at Manoa; former Managing Attorney, Mid- Pacific Office, Sierra Club Legal Defense Fund (SCLDF), Honolulu, Hawai`i; J.D., 1986, University of California at Berkeley, Boalt Hall; A.B., 1982, Princeton University. Prior to joining the law school faculty, Ms. Antolini represented the “windward parties” (Wai_hole- Waik_ne Community Association, Hakipu`u `Ohana, Kahalu`u Neighborhood Board, and Ka L_hui Hawai`i) in the first phase of the Wai_hole contested case hearing. Special thanks to: Bill Tam, Michelle Kaneshiro-Oishi, and Christine Griffin of Carnazzo Court Reporting for their generous assistance. Contact the author at: antolini@hawai`i.edu. 2 See Robbie Dingeman, Wai_hole Water Allocation Rejected: Ruling Called Windward Victory, HONOLULU ADVERTISER, Aug. 23, 2000, -
Secret Destruction of Joint Tenant Survivorship Rights
Fordham Law Review Volume 55 Issue 2 Article 2 1986 An Invitation to Commit Fraud: Secret Destruction of Joint Tenant Survivorship Rights Samuel M. Fetters Follow this and additional works at: https://ir.lawnet.fordham.edu/flr Part of the Law Commons Recommended Citation Samuel M. Fetters, An Invitation to Commit Fraud: Secret Destruction of Joint Tenant Survivorship Rights, 55 Fordham L. Rev. 173 (1986). Available at: https://ir.lawnet.fordham.edu/flr/vol55/iss2/2 This Article is brought to you for free and open access by FLASH: The Fordham Law Archive of Scholarship and History. It has been accepted for inclusion in Fordham Law Review by an authorized editor of FLASH: The Fordham Law Archive of Scholarship and History. For more information, please contact [email protected]. An Invitation to Commit Fraud: Secret Destruction of Joint Tenant Survivorship Rights Cover Page Footnote * Professor of Law, Syracuse University. I wish to thank Lisa Gayle Bradley, Esq. for several helpful suggestions and for her able assistance in the preparation of this Article This article is available in Fordham Law Review: https://ir.lawnet.fordham.edu/flr/vol55/iss2/2 AN INVITATION TO COMMIT FRAUD: SECRET DESTRUCTION OF JOINT TENANT SURVIVORSHIP RIGHTS SAMUEL M. FETTERS* INTRODUCTION JOINT tenancy is the most popular form of spousal residential prop- erty ownership in the United States.' Indeed, it is safe to say that * Professor of Law, Syracuse University. I wish to thank Lisa Gayle Bradley, Esq. for several helpful suggestions and for her able assistance in the preparation of this Article. 1. See E. -
Water Case 00-296
IN THE SUPREME COURT, STATE OF WYOMING 2002 WY 89 APRIL TERM, A.D. 2002 June 14, 2002 IN RE: THE GENERAL ADJUDICATION OF ) ALL RIGHTS TO USE WATER IN THE ) BIG HORN RIVER SYSTEM AND ALL ) OTHER SOURCES, STATE OF WYOMING, ) ) JACK APPLEBY, BRAD BATH, JIM BULINE, ) LEAH HEATHMAN, HORNECKER LIVESTOCK, ) INC., RALPH HORNECKER, TIM SCHELL, ) RALPH URBIGKIT, RALPH F. “RUSTY” and ) KATHY URBIGKIT, and DONALD VAN RIPER, ) ) No. 00-296 Appellants ) (Petitioners). ) Appeal from the District Court of Washakie County The Honorable Gary P. Hartman, Judge Representing Appellants: Sky D Phifer of Phifer Law Office, Lander, Wyoming Representing State of Wyoming: Thomas J. Davidson, Deputy Attorney General, Water and Natural Resources Division; Keith S. Burron, Special Assistant Attorney General, of Associated Legal Group, LLC, Cheyenne, Wyoming; and Brian C. Shuck, Special Assistant Attorney General, of Dray, Thomson & Dyekman, P.C., Cheyenne, Wyoming Representing Northern Arapaho Tribe: Richard M. Berley of Ziontz, Chestnut, Varnell, Berley & Slonim, Seattle, Washington Representing Eastern Shoshone Tribe: John Schumacher of Law Office of John Schumacher, Ft. Washakie, Wyoming Representing United States of America: John C. Cruden, Acting Assistant Attorney General, Environment & Natural Resources Division; John R. Green, Interim United States Attorney, and Carol Statkus and Thomas Roberts, Assistant United States Attorneys, Cheyenne, Wyoming; Lynn Johnson, Sean Donahue, and Jeffrey C. Dobbins, Attorneys, Department of Justice, Washington, D.C.; and Richard Aldrich, Field Solicitor, Office of the Solicitor, United States Department of the Interior, Billings, Montana Before LEHMAN, C.J.; GOLDEN, KITE, and VOIGT, JJ.; and E. JAMES BURKE, D.J. NOTICE: This opinion is subject to formal revision before publication in Pacific Reporter Third. -
Advanced Mineral Conveyancing and Title Issues - Part 1
Advanced Mineral Conveyancing By Sheryl L Howe Scott L Turner Welborn Sullivan Meek & Tooley, P.C. Denver Paper 1 SHERYL L. HOWE is an attorney with the Denver law firm of Welborn Sullivan Meek 85 Tooley, P.C., where her practice focuses on oil and gas, including title, transactions, and royally issues, along with a variety of other real property matters. She has practiced law in Denver since 1982 and has worked on oil and gas and natural resources matters throughout her legal career. Ms. Howe received her B.A. with honors from the University of Iowa in 1979. She attended the University of Colorado Law School and received her Juris Doctor in 1982. She is licensed to practice iaw in Colorado and Wyoming. SCOTT TURNER is an associate with Welborn Sullivan Meek 85 Tooley, P.C. in Denver, Colorado. Since joining the Firm in 2010, his practice focuses on title examination, oil and gas transactional work, and business and real estate services. Scott received his Bachelor of Arts degree from Indiana University with distinction in 1998 and then worked as a business and information technology consultant with Accenture, LLP for seven years in locales throughout the United States and abroad. Scott then attended the University of Colorado Law School, where he served as the Technical Production Editor of the Colorado Law Review. Upon graduation, Scott began his legal career as a real estate and business transactional attorney with a small law firm based in Denver and Vail, Colorado. Scott is an active member of the Colorado, Wyoming, and American Bar Associations. -
Tenancy by the Entirety in North Carolina Robert E
NORTH CAROLINA LAW REVIEW Volume 41 | Number 1 Article 8 12-1-1962 Tenancy by the Entirety in North Carolina Robert E. Lee Follow this and additional works at: http://scholarship.law.unc.edu/nclr Part of the Law Commons Recommended Citation Robert E. Lee, Tenancy by the Entirety in North Carolina, 41 N.C. L. Rev. 67 (1962). Available at: http://scholarship.law.unc.edu/nclr/vol41/iss1/8 This Article is brought to you for free and open access by Carolina Law Scholarship Repository. It has been accepted for inclusion in North Carolina Law Review by an authorized administrator of Carolina Law Scholarship Repository. For more information, please contact [email protected]. TENANCY BY THE ENTIRETY IN NORTH CAROLINA* ROBERT E. LEEf NATURE OF TENANCY BY THE ENTIRETY Where real property is conveyed by deed or by will to two persons who are at the time husband and wife, a "tenancy by the entirety" is created. Sometimes it is referred to as an "estate by the entirety." The husband and wife take the whole estate as one person. Each has the whole; neither has a separate estate or interest; but the survivor, whether husband or wife, is entitled to the entire estate, and the right of the survivor cannot be defeated by the other's conveyance of the property by deed or will to a stranger. The title to the land cannot be conveyed during the existence of the marriage without the signature of both the husband and the wife. Neither tenant can defeat or in any way affect the right of survivorship of the other. -
Tenancy by the Entireties and Creditors Rights in Maryland Bridgewater M
Maryland Law Review Volume 9 | Issue 4 Article 1 Tenancy by the Entireties and Creditors Rights in Maryland Bridgewater M. Arnold Follow this and additional works at: http://digitalcommons.law.umaryland.edu/mlr Part of the Property Law and Real Estate Commons Recommended Citation Bridgewater M. Arnold, Tenancy by the Entireties and Creditors Rights in Maryland, 9 Md. L. Rev. 291 (1948) Available at: http://digitalcommons.law.umaryland.edu/mlr/vol9/iss4/1 This Article is brought to you for free and open access by the Academic Journals at DigitalCommons@UM Carey Law. It has been accepted for inclusion in Maryland Law Review by an authorized administrator of DigitalCommons@UM Carey Law. For more information, please contact [email protected]. Maryland Law Review VOLUME IX FALL, 1948 NumBER 4 TENANCY BY THE ENTIRETIES AND CREDITORS RIGHTS IN MARYLAND By BRIDGEWATER M. ARNOLD* Maryland is one of the states in the Union which has preserved and protected the common law estate of tenancy by the entireties. In Marbury v. Cole,' Judge Alvey said: "By the common law of England, which is the law of this State, except where it has been changed or modified by statute, a conveyance to husband and wife does not constitute them joint tenants, nor are they tenants in common. They are in the contemplation of the common law, but one person, and hence they take, not by moieties, but the entirety. They are each seised of the entirety, and the survivor takes the whole. As stated by Blackstone, 'husband and wife being con- sidered as one person in law, they cannot take the estate by moieties, but both are seized of the entirety, per tout, et non per my; the consequence of which is, that neither the husband nor the wife can dispose of any part without the assent of the other, but the whole must remain to the survivor.' 2 Bl. -
Ground Leases and Leasehold Interests in CMBS: When the Value of the Parts Doesn't Equal the Whole
Commentary FEBRUARY 10, 2021 Ground Leases and Leasehold Interests in CMBS: When the Value of the Parts Doesn't Equal the Whole Kurt Pollem The Chrysler Building has been an iconic pres- the way. The investment seemed to be a great Managing Director ence in the New York skyline since the 1930s success, and it was for a while. However, the North American CMBS when its distinctive Art Deco dome and spire ground-lease agreement contained a rent +1 212 548-6394 rose up into the sky. But the story of this Mid- clause prevalent in New York City that allows [email protected] town office tower ownership highlights certain for a market-based reset over a longer period important risks regarding the economics of the to account for possible appreciation catch-ups. Steve Jellinek ground lease contract between ground lessor There was a big problem, though. The older Vice President – Head of Research and ground lessee. It also raises the question of floorplates and infrastructure of the building North American CMBS what happens if, for any number of reasons, a were becoming less desirable to tenants. The + 1 312 244-7908 property’s leasehold improvements cannot bear increasing ground rent payment began to [email protected] the burden of ground lease rent payments that overwhelm the property’s revenue as the aging only increase over the typically very long period building’s occupancy and rental rates continued Erin Stafford stipulated in such agreements. to lag much newer properties. Managing Director Global Structured Finance The Chrysler Building was constructed on land In 2008, Tishman sold a 90% interest in the +1 312 332-3291 owned by the Cooper Union school, which building to the Abu Dhabi Investment Council [email protected] entered into a long-term ground lease with the for $800 million, or $667 per square foot (psf).