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The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
Adverse possession in common law, and the related civil law concept of usucaption (also acquisitive prescription or prescriptive acquisition), are legal mechanisms under which a person who does not have legal title to a piece of property, usually real property, may acquire legal ownership based on continuous possession or occupation without the permission of its legal owner.
The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.
Property can be considered lost, mislaid, or abandoned depending on the circumstances under which it is found by the next party who obtains its possession. An old saying is that "possession is nine-tenths of the law", dating back centuries. This means that in most cases, the possessor of a piece of property is its rightful owner without ...
Upon the death of a tenant-in-chief, the escheator would be instructed by a writ of diem clausit extremum ("he has closed his last day", i.e. he is dead) issued by the king's chancery, to empanel a jury to hold an "inquisition post mortem" to ascertain who the legal heir was, if any, and what was the extent of the land held. Thus it would be ...
Ontario: $350,000 1/2 to spouse, 1/2 to child 1/3 to spouse, 2/3 to children Extends only to legally married spouses; Spouse may opt for equalization payment under s. 5 of the Family Law Act, if it results in a greater share; Intestacy benefit is in addition to any separation payment received previously or upon death Quebec: nil
Possession of a thing for long enough can become ownership by termination of the previous owner's right of possession and ownership rights. In the same way, the passage of time can bring to an end the owner's right to recover exclusive possession of a property without losing the ownership of it, as when an adverse easement for use is granted by ...
Proprietary estoppel is one of four principal mechanisms to acquire rights over property, seen particularly in the case of land (the others being a contract, an implied trust, and adverse possession).