Defeasibility of Dower
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Chapter 6 Summary Ownership of Real Property
Chapter 6 Summary Ownership of Real Property California Real Estate Principles Estate in land - degree of ownership one holds in the land. Feudal system - all land was once owned by the king/government; Allodial System (USA) - although the government detains some rights, individuals own property without proprietary control of government. Freehold estate - the estate lasts at least a lifetime; leasehold estate - renting or leasing. Types of freehold: • Fee Simple (Fee Simple Absolute) - Owns the bundle of rights – unlimited duration; inheritable. • Fee Simple Defeasible is based on an occurrence of a specified event – conditions. • Fee Tail - Property inherited by a monarch is illegal in the United States. • Life Estate: Voluntary Life Estates or "Conventional Life Estates." o Estate in Reversion • A life estate that is deeded to a life tenant - incomplete bundle of rights during lifetime. • A reversion estate that is retained by the grantor. After death of life tenant, grantor has complete bundle of rights. o Estate in remainder: differs from the above because the remainder estate is given to a third party who is known as the remainderman. After death of life tenant, the remainderman has complete bundle of rights. o Pur Autre Vie (estate in reversion/estate in remainder) - life tenant has the incomplete bundle of rights until a third party dies. o Involuntary Life Estates are legal life estates or marital right. It is not possible to sell the property without the consent of the partner, or to own property in one name only. o Dower - a wife's interest in the husband's property; Curtesy - a husband's interest in a wife's property; Homestead - protection against unsecured debts for the party who did not sign for the loan. -
The Law of Property
THE LAW OF PROPERTY SUPPLEMENTAL READINGS Class 14 Professor Robert T. Farley, JD/LLM PROPERTY KEYED TO DUKEMINIER/KRIER/ALEXANDER/SCHILL SIXTH EDITION Calvin Massey Professor of Law, University of California, Hastings College of the Law The Emanuel Lo,w Outlines Series /\SPEN PUBLISHERS 76 Ninth Avenue, New York, NY 10011 http://lawschool.aspenpublishers.com 29 CHAPTER 2 FREEHOLD ESTATES ChapterScope ------------------- This chapter examines the freehold estates - the various ways in which people can own land. Here are the most important points in this chapter. ■ The various freehold estates are contemporary adaptations of medieval ideas about land owner ship. Past notions, even when no longer relevant, persist but ought not do so. ■ Estates are rights to present possession of land. An estate in land is a legal construct, something apart fromthe land itself. Estates are abstract, figments of our legal imagination; land is real and tangible. An estate can, and does, travel from person to person, or change its nature or duration, while the landjust sits there, spinning calmly through space. ■ The fee simple absolute is the most important estate. The feesimple absolute is what we normally think of when we think of ownership. A fee simple absolute is capable of enduringforever though, obviously, no single owner of it will last so long. ■ Other estates endure for a lesser time than forever; they are either capable of expiring sooner or will definitely do so. ■ The life estate is a right to possession forthe life of some living person, usually (but not always) the owner of the life estate. It is sure to expire because none of us lives forever. -
VACARIA, a Void Place, Or Waste Ground
[ 323 ] U AND V.. VAGRANTS. VACARIA, A void place, or waste ground. Mem. in Scacc. Mich, 9 Edw. 1 . VACATING RECORDS; See title Record. VACATION, Vacatio.~\ Is all the time between the end of one Term and the beginning of another; and it begins the last day of every Term, as soon as the Court rises. The time from the death of a bishop, or other spiritual person, till the bishopric or dignity is sup plied with another, is also called Vacation. Stats. Westm. 1. c. 21: 14 Edw. 3. st. 4. c. 4. VACATURA, An avoidance of an Ecclesiastical Benefice; as prima Vacatura, the first Avoidance, isfc. VACCARY, Vaccaria. A house or place to keep cows in; a Dairy- house, or Cow-pasture. Fleta, lib. 2. VACCARIUS, The Cow-herd, who looks after the common herd �of cows. Fleta. VADIARE DUELLUM, To wage a combat, where two contend ing parties, on a challenge, give and take a mutual pledge of fighting. Cowell. See title Battel. VADIUM PONERE, To take security, bail or pledges, for the appearance of a defendant in a Court of Justice. Reg. Orig. See Pone. VADIUM MORTUUM; See Mortgage. VADIUM VIVUM, A living Pledge; as when a man borrows a sum of another, and grants him an estate, as of 20/. fier annum, to hold until the rents and profits shall repay the sum borrowed. See Mortgage. VAGABOND, Vagabundus .] One that wanders about, and has no certain dwelling; an idle fellow. See Vagrants. VAGRANTS. Vagrantes.] These are divided into three classes; viz. Bile and Disorderly Persons�Rogues and Vagabonds�and Incorrigible Rogues: And are thus described and particularised at full length in the stat. -
REAL ESTATE LAW LESSON 1 OWNERSHIP RIGHTS (IN PROPERTY) Real Estate Law Outline LESSON 1 Pg
REAL ESTATE LAW LESSON 1 OWNERSHIP RIGHTS (IN PROPERTY) Real Estate Law Outline LESSON 1 Pg Ownership Rights (In Property) 3 Real vs Personal Property 5 . Personal Property 5 . Real Property 6 . Components of Real Property 6 . Subsurface Rights 6 . Air Rights 6 . Improvements 7 . Fixtures 7 The Four Tests of Intention 7 Manner of Attachment 7 Adaptation of the Object 8 Existence of an Agreement 8 Relationships of the Parties 8 Ownership of Plants and Trees 9 Severance 9 Water Rights 9 Appurtenances 10 Interest in Land 11 Estates in Land 11 Allodial System 11 Kinds of Estates 12 Freehold Estates 12 Fee Simple Absolute 12 Defeasible Fee 13 Fee Simple Determinable 13 Fee Simple Subject to Condition Subsequent 14 Fee Simple Subject to Condition Precedent 14 Fee Simple Subject to an Executory Limitation 15 Fee Tail 15 Life Estates 16 Legal Life Estates 17 Homestead Protection 17 Non-Freehold Estates 18 Estates for Years 19 Periodic Estate 19 Estates at Will 19 Estate at Sufferance 19 Common Law and Statutory Law 19 Copyright by Tony Portararo REV. 08-2014 1 REAL ESTATE LAW LESSON 1 OWNERSHIP RIGHTS (IN PROPERTY) Types of Ownership 20 Sole Ownership (An Estate in Severalty) 20 Partnerships 21 General Partnerships 21 Limited Partnerships 21 Joint Ventures 22 Syndications 22 Corporations 22 Concurrent Ownership 23 Tenants in Common 23 Joint Tenancy 24 Tenancy by the Entirety 25 Community Property 26 Trusts 26 Real Estate Investment Trusts 27 Intervivos and Testamentary Trusts 27 Land Trust 27 TEST ONE 29 TEST TWO (ANNOTATED) 39 Copyright by Tony Portararo REV. -
Opinion, Ross Stanley V. Carolyn Haynes Stanley, No. 13-0960
IN THE SUPREME COURT OF APPEALS OF WEST VIRGINIA January 2014 Term _______________ FILED May 27, 2014 No. 13-0960 released at 3:00 p.m. RORY L. PERRY II, CLERK _______________ SUPREME COURT OF APPEALS OF WEST VIRGINIA ROSS STANLEY, Petitioner Below, Petitioner v. CAROLYN HAYNES STANLEY, Respondent Below, Respondent ____________________________________________________________ Appeal from the Circuit Court of Greenbrier County The Honorable Joseph C. Pomponio, Jr., Judge Civil Action No. 12-D-65 REVERSED ____________________________________________________________ Submitted: May 6, 2014 Filed: May 27, 2014 Martha J. Fleshman, Esq. J. Michael Anderson, Esq. Fleshman Law Office Rainelle, West Virginia Lewisburg, West Virginia Counsel for the Respondent Counsel for the Petitioner JUSTICE KETCHUM delivered the Opinion of the Court. SYLLABUS BY THE COURT 1. W.Va. Code § 43-1-2(b) [1992] requires any married person who conveys an interest in real estate to notify his or her spouse within thirty days of the time of the conveyance if the conveyance involves an interest in real estate to which dower would have attached if the conveyance had been made before dower was abolished in 1992. 2. Under W.Va. Code § 43-1-2(d) [1992], when a married person fails to comply with the notice requirement contained in W.Va. Code § 43-1-2(b) [1992], then in the event of a subsequent divorce within five years of the conveyance, the value of the real estate conveyed, as determined at the time of the conveyance, shall be deemed a part of the conveyancer’s marital property for purposes of determining equitable distribution. i Justice Ketchum: Petitioner Ross Stanley (“petitioner husband”) appeals the July 30, 2013, order of the Circuit Court of Greenbrier County that reversed the April 19, 2013, order of the Family Court of Greenbrier County. -
Real Property – Present Estates
Real Property – Present Estates Freehold (owned or possessed outright) or Non-Freehold (possessed through lease) Three types of Freeholds: LEFTS LE – life estate - "O to X for life, and remainder to Y." FT – fee tail - "O to X and the heirs of her body". A fee tail could only pass to the grantee's heirs, which kept the property in the grantee's family. When there is no more living family, the interests revert back to the grantor. Fee tail was abolished in vast majority of states, including New York, and is instead treated as a fee simple in the Grantee). S – fee simple - "To X and X's heirs and assigns" or "To X and X's heirs" or "O to X." Three types of Fee Simple: SAD Subject to a condition precedent ("To X, upon the condition that X passes the bar exam; otherwise, to Y." No title passes to X until X passes) or condition subsequent (BOP: "To X, but if...." "To X on condition that...." "To X provided that....", which creates a right of reentry, not automatic forfeiture). Absolute (no condition). Determinable (conditioned on an uncertain future event, which if it occurs results in automatic forfeiture SUD: "So long as...." "Until it is not used for...." "During the period is used for...."). The law does not favor forfeiture, so the language must be clear, and the possibility of forfeiture will render title unmarketable. ---------------------------------------------------------------------------------------------------------- Shelley's Case: To avoid tax to the Grantee, "To Grantee for life, remainder to Grantee's heirs." This delayed payment of transfer tax for the life of the Grantee. -
Hidden Risks in Real Estate Title Transactions
Cleveland State Law Review Volume 19 Issue 1 Article 14 1970 Hidden Risks in Real Estate Title Transactions Sherman Hollander Follow this and additional works at: https://engagedscholarship.csuohio.edu/clevstlrev Part of the Housing Law Commons, and the Property Law and Real Estate Commons How does access to this work benefit ou?y Let us know! Recommended Citation Sherman Hollander, Hidden Risks in Real Estate Title Transactions, 19 Clev. St. L. Rev. 111 (1970) available at https://engagedscholarship.csuohio.edu/clevstlrev/vol19/iss1/14 This Article is brought to you for free and open access by the Journals at EngagedScholarship@CSU. It has been accepted for inclusion in Cleveland State Law Review by an authorized editor of EngagedScholarship@CSU. For more information, please contact [email protected]. Hidden Risks in Real Estate Title Transactions Sherman Hollander* N o AMOUNT OF CARE can avoid certain of the title hazards which a real estate transaction may encounter. The most careful attorney can do little or nothing, in such situations, to sidestep the pitfalls. In at least some such cases the legislature could provide relief by reducing the risk to innocent parties. To do so requires perceptive review of some time- honored concepts. A number of types of other problems exist where a careful attorney may reduce the risk faced by his client. Even here perhaps the legis- lature could consider statutory improvements. It would be more fair and equitable if extraordinary care were not required to prevent an un- just result. Dower Interest One vestige of English Common Law which still operates in Ohio and may be the source of increasing losses to innocent parties in the future is dower. -
In Defense of the Fee Simple Katrina M
Notre Dame Law Review Volume 93 | Issue 1 Article 1 11-2017 In Defense of the Fee Simple Katrina M. Wyman New York University School of Law Follow this and additional works at: http://scholarship.law.nd.edu/ndlr Part of the Property Law and Real Estate Commons Recommended Citation 93 Notre Dame L. Rev. 1 (2017) This Article is brought to you for free and open access by the Notre Dame Law Review at NDLScholarship. It has been accepted for inclusion in Notre Dame Law Review by an authorized editor of NDLScholarship. For more information, please contact [email protected]. \\jciprod01\productn\N\NDL\93-1\NDL101.txt unknown Seq: 1 15-NOV-17 13:44 ARTICLES IN DEFENSE OF THE FEE SIMPLE Katrina M. Wyman* Prominent economically oriented legal academics are currently arguing that the fee simple, the dominant form of private landownership in the United States, is an inefficient way for society to allocate land. They maintain that the fee simple blocks transfers of land to higher value uses because it provides property owners with a perpetual monopoly. The critics propose that landown- ership be reformulated to enable private actors to forcibly purchase land from other private own- ers, similar to the way that governments can expropriate land for public uses using eminent domain. While recognizing the significance of the critique, this Article takes issue with it and defends the fee simple. The Article makes two main points in defense of the fee simple. First, addressing the critique on its own economic terms, the Article argues that the critics have not established that there is a robust economic argument for dispensing with the fee simple. -
Civil Union and Domestic Partmerships
Civil Union and Domestic Partmerships January 2014 In 2000, Vermont became the first state to recognize same-sex civil unions following the 1999 decision of Vermont’s Supreme Court in Baker v. Vermont, 744 A.2d 864 (Vt. 1999), holding that the state’s prohibition on same-sex marriage violated the Vermont Constitution. The court ordered the Vermont legislature either to allow same-sex marriages or to implement an alternative legal mechanism according similar rights to same-sex couples. As of November, 2013, these jurisdictions have laws providing for the issuance of marriage licenses to same-sex couples: California. Connecticut. Delaware. District of Columbia. Hawaii Illinois Iowa. Maine. Maryland. Massachusetts. Minnesota. New Hampshire. New Mexico New York. Rhode Island. Vermont. Washington. The following jurisdictions provide the equivalent of state-level spousal rights to same- sex couples within the state: Colorado. District of Columbia. Nevada. New Jersey. Oregon. Wisconsin. If a state does not appear on the following chart, it is because we have not found a state statute on the topic. In some cases provisions only exist for public employees. To check whether there is pending or recently enacted legislation, please click here. Click the letter corresponding to the state name below. Please note: This material is for personal use only and is protected by U.S. Copyright Law (Title 17 USC). It is provided as general information only and does not constitute and is not a substitute for legal or other professional advice. Reliance upon this material is solely at your own risk. | C | D | H | I | M | N | O | R | V | W State Statute California 297. -
The Economics of Dowry and Brideprice
Journal of Economic Perspectives—Volume 21, Number 4—Fall 2007—Pages 151–174 The Economics of Dowry and Brideprice Siwan Anderson ayments between families at the time of marriage existed during the history of most developed countries and are currently pervasive in many areas of P the developing world. These payments can be substantial enough to affect the welfare of women and a society’s distribution of wealth. Recent estimates document transfers per marriage amounting to six times the annual household income in South Asia (Rao, 1993), and four times in sub-Saharan Africa (Dekker and Hoogeveen, 2002). This paper first establishes some basic facts about the prevalence and magni- tude of marriage payments. It then discusses how such patterns vary across coun- tries depending upon economic conditions, societal structures, institutions, and family characteristics. Such payments have also evolved within societies over time. For example, in some periods such payments have risen sharply. In some cases, payments have shifted from the grooms’ sides to the brides’, and vice versa. Also, property rights over such payments have sometimes shifted between marrying partners and parental generations. Economists, who have only recently begun to work on the topic, have focused on explaining these facts. The second part of the paper addresses this economic literature. Though considerable insight into many of the facts has been gained, many of the existing economic explanations are weakly convincing, and many puzzles remain. One crucial difficulty is that solid data in this field have been extremely rare. The descriptions of marriage payments in this paper are synthe- sized from a patchwork of studies across periods, places, and even epochs, and there are doubtless numerous cases which remain undocumented. -
The Real Estate Law Review
[ Exclusively for: Eddy Leks | 04-Apr-14, 08:41 AM ] ©The Law Reviews The Real Estate Law Review Third Edition Editor David Waterfield Law Business Research The Real Estate Law Review Reproduced with permission from Law Business Research Ltd. This article was first published in The Real Estate Law Review, 3rd edition (published in March 2014 – editor David Waterfield). For further information please email [email protected] The Real Estate Law Review Third Edition Editor David Waterfield Law Business Research Ltd THE LAW REVIEWS THE MERGERS AND ACQUISITIONS REVIEW THE RESTRUCTURING REVIEW THE PRIVATE COMPETITION ENFORCEMENT REVIEW THE DISPUTE RESOLUTION REVIEW THE EMPLOYMENT LAW REVIEW THE PUBLIC COMPETITION ENFORCEMENT REVIEW THE BANKING REGULATION REVIEW THE INTERNATIONAL ARBITRATION REVIEW THE MERGER CONTROL REVIEW THE TECHNOLOGY, MEDIA AND TELECOMMUNICATIONS REVIEW THE INWARD INVESTMENT AND INTERNATIONAL TAXATION REVIEW THE CORPORATE GOVERNANCE REVIEW THE CORPORATE IMMIGRATION REVIEW THE INTERNATIONAL INVESTIGATIONS REVIEW THE PROJECTS AND CONSTRUCTION REVIEW THE INTERNATIONAL CAPITAL MARKETS REVIEW THE REAL ESTATE LAW REVIEW THE PRIVATE EQUITY REVIEW THE ENERGY REGULATION AND MARKETS REVIEW THE INTELLECTUAL PROPERTY REVIEW THE ASSET MANAGEMENT REVIEW THE PRIVATE WEALTH AND PRIVATE CLIENT REVIEW THE MINING LAW REVIEW THE EXECUTIVE REMUNERATION REVIEW THE ANTI-BRIBERY AND ANTI-CORRUPTION REVIEW THE CARTELS AND LENIENCY REVIEW THE TAX DISPUTES AND LITIGATION REVIEW THE LIFE SCIENCES LAW REVIEW THE INSURANCE AND REINSURANCE LAW -
Future Interests in Property in Minnesota Everett Rf Aser
University of Minnesota Law School Scholarship Repository Minnesota Law Review 1919 Future Interests in Property in Minnesota Everett rF aser Follow this and additional works at: https://scholarship.law.umn.edu/mlr Part of the Law Commons Recommended Citation Fraser, Everett, "Future Interests in Property in Minnesota" (1919). Minnesota Law Review. 1283. https://scholarship.law.umn.edu/mlr/1283 This Article is brought to you for free and open access by the University of Minnesota Law School. It has been accepted for inclusion in Minnesota Law Review collection by an authorized administrator of the Scholarship Repository. For more information, please contact [email protected]. MINNESOTA LAW REVIEW FUTURE INTERESTS IN PROPERTY IN MINNESOTA "ORIGINALLY the creation of future interests at law was greatly restricted, but now, either by the Statutes of Uses and of Wills, or by modern legislation, or by the gradual action of the courts, all restraints on the creation of future interests, except those arising from remoteness, have been done away. This practically reduces the law restricting the creation of future interests to the Rule against Perpetuities,"' Generally in common law jurisdictions today there is but one rule restricting the crea- tion of future interests, and that rule is uniform in its application to real property and to personal property, to legal and equitable interests therein, to interests created by way of trust, and to powers. In 1830 the New York Revised Statutes went into effect in New York state. The revision had been prepared by a commis- sion appointed for the purpose five years before. It contained a code of property law in which "the revisers undertook to re- write the whole law of future estates in land, uses and trusts ..