The document discusses the Rule Against Perpetuity, which establishes that an interest in property must vest within a certain period of time, specifically the life of a living person plus the minority of the ultimate beneficiary. This ensures that all interests in the property vest within a reasonable period rather than being postponed indefinitely. The maximum period of vesting is the life of the preceding interest holder plus the period of gestation and minority of the ultimate beneficiary. Exceptions to the rule include transfers for the benefit of the public and personal agreements.
This document discusses temporary injunctions under Indian law. It defines a temporary injunction as continuing until a specified time or further court order, and that they can be granted at any stage of a suit. The primary purpose is to maintain the status quo until the final determination of the suit. It lists 12 cases where a temporary injunction may be granted, such as when property is in danger or being wasted. It outlines the principles a court considers, including whether the plaintiff has a prima facie case, the balance of convenience favors the plaintiff, and the plaintiff would suffer irreparable injury without injunction. It defines these terms and notes injunction is an equitable remedy where the party must do equity and not suppress material facts.
This document discusses rules related to court orders for attachment of property. It outlines the application process for attachment, including requirements that must be satisfied. It notes that if an application is not satisfied, it will be rejected. It also provides examples of cases where multiple parties have claims against a shared or same property.
Will or testament is a legal document by which a person, the testator, expresses his wishes as to how his property(ies) is to be distributed at death, and names one or more persons, the executor, to manage the estate until its final distribution.
Law of WILL is very important to understand so that beneficiary does not face legal complication.
This document provides details about The Advocates Act of 1961 in India, which aims to consolidate and amend the laws relating to legal practitioners. Some key points:
1. It establishes the Bar Council of India and State Bar Councils to regulate legal practice and practitioners.
2. The Act implements recommendations from the 1953 All India Bar Committee report and the Law Commission to reform the legal system.
3. It introduces a common roll of advocates to allow practice across courts, establishes qualifications for advocates, and divides advocates into senior and other categories.
4. The Act repeals previous laws on the subject and received assent on May 19, 1961, coming into effect through state-by-state notifications.
This document summarizes the history and development of victim compensation in India. It discusses how ancient societies required offenders to reimburse victims but the focus was on protecting offenders, not rehabilitating victims. Over time, compensation became a victim's civil right. The Code of Criminal Procedure introduced provisions for victim compensation through court fines and state schemes. Section 357A obligates states to establish victim compensation schemes, defining the role of District Legal Services Authorities in awarding compensation. The document outlines eligibility and provisions under Delhi's Victim Compensation Scheme 2018, including interim relief for acid attack victims and funds from donations.
The document discusses the Rule Against Perpetuity, which establishes that an interest in property must vest within a certain period of time, specifically the life of a living person plus the minority of the ultimate beneficiary. This ensures that all interests in the property vest within a reasonable period rather than being postponed indefinitely. The maximum period of vesting is the life of the preceding interest holder plus the period of gestation and minority of the ultimate beneficiary. Exceptions to the rule include transfers for the benefit of the public and personal agreements.
This document discusses temporary injunctions under Indian law. It defines a temporary injunction as continuing until a specified time or further court order, and that they can be granted at any stage of a suit. The primary purpose is to maintain the status quo until the final determination of the suit. It lists 12 cases where a temporary injunction may be granted, such as when property is in danger or being wasted. It outlines the principles a court considers, including whether the plaintiff has a prima facie case, the balance of convenience favors the plaintiff, and the plaintiff would suffer irreparable injury without injunction. It defines these terms and notes injunction is an equitable remedy where the party must do equity and not suppress material facts.
This document discusses rules related to court orders for attachment of property. It outlines the application process for attachment, including requirements that must be satisfied. It notes that if an application is not satisfied, it will be rejected. It also provides examples of cases where multiple parties have claims against a shared or same property.
Will or testament is a legal document by which a person, the testator, expresses his wishes as to how his property(ies) is to be distributed at death, and names one or more persons, the executor, to manage the estate until its final distribution.
Law of WILL is very important to understand so that beneficiary does not face legal complication.
This document provides details about The Advocates Act of 1961 in India, which aims to consolidate and amend the laws relating to legal practitioners. Some key points:
1. It establishes the Bar Council of India and State Bar Councils to regulate legal practice and practitioners.
2. The Act implements recommendations from the 1953 All India Bar Committee report and the Law Commission to reform the legal system.
3. It introduces a common roll of advocates to allow practice across courts, establishes qualifications for advocates, and divides advocates into senior and other categories.
4. The Act repeals previous laws on the subject and received assent on May 19, 1961, coming into effect through state-by-state notifications.
This document summarizes the history and development of victim compensation in India. It discusses how ancient societies required offenders to reimburse victims but the focus was on protecting offenders, not rehabilitating victims. Over time, compensation became a victim's civil right. The Code of Criminal Procedure introduced provisions for victim compensation through court fines and state schemes. Section 357A obligates states to establish victim compensation schemes, defining the role of District Legal Services Authorities in awarding compensation. The document outlines eligibility and provisions under Delhi's Victim Compensation Scheme 2018, including interim relief for acid attack victims and funds from donations.
Section 41 of the Transfer of Property Act deals with transfers of property by an ostensible owner. It states that such a transfer will not be voidable if the transferee acted in good faith and took reasonable care to ensure the transferor had the power to transfer. However, this is now subject to the Benami Transactions Act of 1988, which considers property held under a benami transaction to be owned by the person providing the consideration. The Benami Act does not apply retroactively to cases already in progress when it was enacted. For benami transactions after the Act, section 41 of the Transfer of Property Act cannot be used as a defense.
Section 13 Transfer for benefit of Unborn perosn.Bhargav Dangar
There can be no direct transfer of property to an unborn person who is not in existence, even in the mother's womb. However, property can be transferred to a child in the mother's womb. A living person can hold the property in trust until the unborn person comes into existence, at which point they will receive the full interest in the property. Only an absolute interest in the entire remaining property can be transferred to an unborn person, not a limited or life interest.
1. The document defines key terms used in the Transfer of Property Act such as immovable property, instrument, attested, attached to the earth, notice, transfer of property, and conditions precedent and subsequent.
2. It explains what types of property can be transferred and who is competent to transfer property. Certain interests like those of tenants cannot be assigned.
3. When property is transferred, all interests that can be passed are transferred unless otherwise specified, including easements, rents, and things attached to the property. Conditions that restrain alienation or restrict enjoyment of property are generally void.
The document discusses various types of jurisdiction of courts in Pakistan. It explains that civil courts have the jurisdiction to try all civil suits unless expressly barred. It classifies jurisdiction into four types - subject matter jurisdiction, pecuniary jurisdiction, territorial jurisdiction, and personal jurisdiction. It provides details on each type of jurisdiction and the rules regulating them. The document also discusses various absolute bars, conditional bars, and special bars upon the jurisdiction of civil courts in Pakistan.
The document discusses key aspects of sale of immovable property under the Transfer of Property Act, 1882 in India. It defines a sale as the transfer of ownership of property in exchange for a price, and distinguishes this from a contract for sale which agrees for a future sale but does not transfer ownership. The essential elements of a valid sale are identified as parties to the transaction, the subject property, a money consideration, and proper conveyance either through registration of a sale deed or possession transfer. Various principles from case law rulings pertaining to sale agreements and transactions are also summarized.
A lease transfers the right to enjoy property for a certain time in exchange for consideration, creating an interest in the property. A license merely permits use of property without transferring interest, as legal possession remains with the owner. The key difference is whether the document intends to create an interest or merely permit use. While exclusive possession suggests a lease, the parties' intention determines if a lease or license is created based on the document's substance over form.
this contains provisions as to execution of decree and orders, provisions for execution of different orders, modes of execution by detention, arrest and attachment.
This document summarizes the concept of dower under Muslim law. It defines dower as a sum of money or property promised or given by the husband to the wife at marriage. If no dower amount is specified, customary dower applies based on similar marriages. The wife has a legal right to prompt dower payment and can refuse cohabitation or sue if it is unpaid. Dower is the wife's sole right and she decides how to use it without husband interference. Differences between Shia and Sunni law regarding minimum/maximum dower amounts and entitlement if marriage is not consummated are also outlined.
This document discusses vested and contingent interests in property. A vested interest takes effect immediately or upon a specified event that must happen, while a contingent interest is a future possible interest that is not heritable or transferable. A vested interest constitutes a present, fixed right in the property that can be transferred or inherited, whereas a contingent interest only becomes a right if some uncertain event occurs in the future.
Know about anticipatory bail and condition to grant the bail.
#anticipatorybail #CrPC #bail #court #sectio438 and know why the anticipatory bail is filed?
Watch the YT video for a better understanding of Anticipatory bail: https://youtu.be/zG56kfug_ww
Equity follows the rules of law and does not contradict it. Equity respects every word of law and aims to fulfill and explain it, not destroy it. This principle is based on the Latin maxim "equitas sequitur legem", meaning equity follows the law. A key 1734 case established that a court's discretion in equity must be governed by legal rules and cannot take actions against the law. Equity deals with issues of equality and maintains fairness between parties in a way that helps resolve legal issues, always following the analogies and rules of law.
There are three main types of delegated legislation: bylaws made by local councils, statutory instruments made by government departments, and Orders in Council made by the Privy Council. Parliament delegates some of its lawmaking power through enabling acts because it does not have time or expertise to pass all necessary laws itself. Delegated legislation is subject to general supervision through the enabling act and requirement for consultation, publication, and parliamentary and court oversight through judicial review. It allows laws to be made more quickly and flexibly by experts but is also criticized as being undemocratic with reduced transparency and scrutiny compared to laws passed by Parliament.
Attestation under Transfer of Property Act, 1882.
Meaning, example, meaning under section 3 of transfer of property act, Essentials of a valid attestation, Attesting witness, registrar as attesting witness, mode of attestation, legal effect of attestation, party interested in the transaction.
If you face any problem regarding the research then you can communicate with me and I would appreciate your comments.
E-mail: devendrasrivastava36@gmail.com
divyashreenandini@gmail.com
PRESUMPTIONS UNDER THE INDIAN EVIDENCE ACT, 1872.pptxisha423717
The document summarizes key sections of the Indian Evidence Act related to presumptions. It discusses the definitions of presumption and the different types - presumptions of fact and presumptions of law, which can be rebuttable or irrebuttable. It provides examples and explanations of key sections like Section 4, 105, 111-A, 113-A, 113-B and 114 that deal with presumptions that the court "may presume", "shall presume" or are "conclusive proof". The document analyzes the case laws and essential conditions required to invoke different presumptions under these sections related to abetment of suicide, dowry death, disturbed areas and possession of stolen goods.
General Exception under Indian Penal Code Law Laboratory
Detailed Presentation on General Exception under Indian Penal Code, 1860. (Section 76-106)
Made By:
Edited By: Ayush Patria, Sangam University, Bhilwara
Follow us on Instagram: @law_laboratory
Website: www.lawlaboratory.in
This document discusses parties to a suit under the Code of Civil Procedure 1908 in India. It defines plaintiff and defendant, and discusses rules around joinder, nonjoinder, and misjoinder of parties. It explains that a plaintiff is the person filing a suit to enforce a legal right, while a defendant is the person being sued. Multiple plaintiffs and defendants can be joined in one suit if there is a common issue. One person may also represent a group in a representative suit under certain conditions, such as numerous parties sharing a common interest.
This document provides an introduction to trusts law in Malaysia. It defines key terms related to trusts such as settlor, trustee, beneficiary, and cestui que trust. It also outlines the basic anatomy of a trust including the dual ownership of property by the legal owner (trustee) and equitable owner (beneficiary). The document discusses the requirements for creating a valid trust, including the capacity of those involved and formalities such as being in writing. It provides examples of different types of trusts and how they are used.
Introduction to the_law_of_trust-_law_of_equity_trusts_probate_iStudent
The document provides an introduction to the law of trusts. It begins by discussing how trusts involve the separation of legal ownership and equitable ownership of property, with legal title vesting in the trustee and equitable title vesting in the beneficiary. It then defines trusts according to various legal sources and discusses associated terms like settlor, trustee, beneficiary, trust property. It explains how trusts separate legal and equitable ownership and the nature of a beneficiary's equitable interest. Finally, it notes trusts are distinguished from other legal relationships and concepts.
Section 41 of the Transfer of Property Act deals with transfers of property by an ostensible owner. It states that such a transfer will not be voidable if the transferee acted in good faith and took reasonable care to ensure the transferor had the power to transfer. However, this is now subject to the Benami Transactions Act of 1988, which considers property held under a benami transaction to be owned by the person providing the consideration. The Benami Act does not apply retroactively to cases already in progress when it was enacted. For benami transactions after the Act, section 41 of the Transfer of Property Act cannot be used as a defense.
Section 13 Transfer for benefit of Unborn perosn.Bhargav Dangar
There can be no direct transfer of property to an unborn person who is not in existence, even in the mother's womb. However, property can be transferred to a child in the mother's womb. A living person can hold the property in trust until the unborn person comes into existence, at which point they will receive the full interest in the property. Only an absolute interest in the entire remaining property can be transferred to an unborn person, not a limited or life interest.
1. The document defines key terms used in the Transfer of Property Act such as immovable property, instrument, attested, attached to the earth, notice, transfer of property, and conditions precedent and subsequent.
2. It explains what types of property can be transferred and who is competent to transfer property. Certain interests like those of tenants cannot be assigned.
3. When property is transferred, all interests that can be passed are transferred unless otherwise specified, including easements, rents, and things attached to the property. Conditions that restrain alienation or restrict enjoyment of property are generally void.
The document discusses various types of jurisdiction of courts in Pakistan. It explains that civil courts have the jurisdiction to try all civil suits unless expressly barred. It classifies jurisdiction into four types - subject matter jurisdiction, pecuniary jurisdiction, territorial jurisdiction, and personal jurisdiction. It provides details on each type of jurisdiction and the rules regulating them. The document also discusses various absolute bars, conditional bars, and special bars upon the jurisdiction of civil courts in Pakistan.
The document discusses key aspects of sale of immovable property under the Transfer of Property Act, 1882 in India. It defines a sale as the transfer of ownership of property in exchange for a price, and distinguishes this from a contract for sale which agrees for a future sale but does not transfer ownership. The essential elements of a valid sale are identified as parties to the transaction, the subject property, a money consideration, and proper conveyance either through registration of a sale deed or possession transfer. Various principles from case law rulings pertaining to sale agreements and transactions are also summarized.
A lease transfers the right to enjoy property for a certain time in exchange for consideration, creating an interest in the property. A license merely permits use of property without transferring interest, as legal possession remains with the owner. The key difference is whether the document intends to create an interest or merely permit use. While exclusive possession suggests a lease, the parties' intention determines if a lease or license is created based on the document's substance over form.
this contains provisions as to execution of decree and orders, provisions for execution of different orders, modes of execution by detention, arrest and attachment.
This document summarizes the concept of dower under Muslim law. It defines dower as a sum of money or property promised or given by the husband to the wife at marriage. If no dower amount is specified, customary dower applies based on similar marriages. The wife has a legal right to prompt dower payment and can refuse cohabitation or sue if it is unpaid. Dower is the wife's sole right and she decides how to use it without husband interference. Differences between Shia and Sunni law regarding minimum/maximum dower amounts and entitlement if marriage is not consummated are also outlined.
This document discusses vested and contingent interests in property. A vested interest takes effect immediately or upon a specified event that must happen, while a contingent interest is a future possible interest that is not heritable or transferable. A vested interest constitutes a present, fixed right in the property that can be transferred or inherited, whereas a contingent interest only becomes a right if some uncertain event occurs in the future.
Know about anticipatory bail and condition to grant the bail.
#anticipatorybail #CrPC #bail #court #sectio438 and know why the anticipatory bail is filed?
Watch the YT video for a better understanding of Anticipatory bail: https://youtu.be/zG56kfug_ww
Equity follows the rules of law and does not contradict it. Equity respects every word of law and aims to fulfill and explain it, not destroy it. This principle is based on the Latin maxim "equitas sequitur legem", meaning equity follows the law. A key 1734 case established that a court's discretion in equity must be governed by legal rules and cannot take actions against the law. Equity deals with issues of equality and maintains fairness between parties in a way that helps resolve legal issues, always following the analogies and rules of law.
There are three main types of delegated legislation: bylaws made by local councils, statutory instruments made by government departments, and Orders in Council made by the Privy Council. Parliament delegates some of its lawmaking power through enabling acts because it does not have time or expertise to pass all necessary laws itself. Delegated legislation is subject to general supervision through the enabling act and requirement for consultation, publication, and parliamentary and court oversight through judicial review. It allows laws to be made more quickly and flexibly by experts but is also criticized as being undemocratic with reduced transparency and scrutiny compared to laws passed by Parliament.
Attestation under Transfer of Property Act, 1882.
Meaning, example, meaning under section 3 of transfer of property act, Essentials of a valid attestation, Attesting witness, registrar as attesting witness, mode of attestation, legal effect of attestation, party interested in the transaction.
If you face any problem regarding the research then you can communicate with me and I would appreciate your comments.
E-mail: devendrasrivastava36@gmail.com
divyashreenandini@gmail.com
PRESUMPTIONS UNDER THE INDIAN EVIDENCE ACT, 1872.pptxisha423717
The document summarizes key sections of the Indian Evidence Act related to presumptions. It discusses the definitions of presumption and the different types - presumptions of fact and presumptions of law, which can be rebuttable or irrebuttable. It provides examples and explanations of key sections like Section 4, 105, 111-A, 113-A, 113-B and 114 that deal with presumptions that the court "may presume", "shall presume" or are "conclusive proof". The document analyzes the case laws and essential conditions required to invoke different presumptions under these sections related to abetment of suicide, dowry death, disturbed areas and possession of stolen goods.
General Exception under Indian Penal Code Law Laboratory
Detailed Presentation on General Exception under Indian Penal Code, 1860. (Section 76-106)
Made By:
Edited By: Ayush Patria, Sangam University, Bhilwara
Follow us on Instagram: @law_laboratory
Website: www.lawlaboratory.in
This document discusses parties to a suit under the Code of Civil Procedure 1908 in India. It defines plaintiff and defendant, and discusses rules around joinder, nonjoinder, and misjoinder of parties. It explains that a plaintiff is the person filing a suit to enforce a legal right, while a defendant is the person being sued. Multiple plaintiffs and defendants can be joined in one suit if there is a common issue. One person may also represent a group in a representative suit under certain conditions, such as numerous parties sharing a common interest.
This document provides an introduction to trusts law in Malaysia. It defines key terms related to trusts such as settlor, trustee, beneficiary, and cestui que trust. It also outlines the basic anatomy of a trust including the dual ownership of property by the legal owner (trustee) and equitable owner (beneficiary). The document discusses the requirements for creating a valid trust, including the capacity of those involved and formalities such as being in writing. It provides examples of different types of trusts and how they are used.
Introduction to the_law_of_trust-_law_of_equity_trusts_probate_iStudent
The document provides an introduction to the law of trusts. It begins by discussing how trusts involve the separation of legal ownership and equitable ownership of property, with legal title vesting in the trustee and equitable title vesting in the beneficiary. It then defines trusts according to various legal sources and discusses associated terms like settlor, trustee, beneficiary, trust property. It explains how trusts separate legal and equitable ownership and the nature of a beneficiary's equitable interest. Finally, it notes trusts are distinguished from other legal relationships and concepts.
Trustees have both powers and duties when managing trust property. Their powers can be modified by the trust instrument and include selling trust property and providing for minor beneficiaries. Key duties include the duty of loyalty and not making a personal profit. Duties may also be modified by the trust instrument. Trustees have discretion over whether to exercise their powers and are not liable if they decide in good faith not to. The type of trust determines the specific duties and powers of the trustees.
This document defines different types of mortgages and outlines their key elements and differences. It begins by defining a mortgage as the transfer of an interest in specific immovable property to secure a loan. It then describes the six main types of mortgages in India: simple mortgage, mortgage by conditional sale, usufructuary mortgage, English mortgage, mortgage by deposit of title deeds, and anomalous mortgage. For each, it provides details on elements such as possession, personal liability of the mortgagor, and appropriate legal remedies. The document also distinguishes between usufructuary mortgages and leases as well as English mortgages and mortgages by conditional sale.
NYSC AKWA IBOM STATE ONE DAY CAPACITY BUILDING "TRAINING" ON TESTAMENTARY DIS...Onyekachi Duru Esq
This document provides information about a one day capacity building workshop on wills hosted by the Corp Members Legal Aids Scheme of the National Youth Service Corps in Akwa Ibom State, Nigeria. The workshop covered topics such as the definition of a will, types of wills, requirements for making a valid will, beneficiaries, legacies, and challenges that can arise. It aimed to educate participants on will drafting and the importance of making a will to dictate the distribution of one's estate after death.
In this presentation, I discuss the concept of wills, types, and capacity to make wills. I conclude on the formalities of writing a will and how to alter a will. I make references to the Wills Act 1971, Act 360
This material is a part of our PGPSE programe. Our programme is available for any student after class 12th / graduation. AFTERSCHO☺OL conducts PGPSE, which is available free to all online students. There are no charges. PGPSE is a very rigorous programme, designed to give a comprehensive training in social entrepreneurship / spiritual entrepreneurship. This programme is aimed at those persons, who want to ultimately set up their own business enterprises which can benefit society substantially. PGPSE is a unique programme, as it combines industry consultancy, business solutions and case studies in addition to spirituality and social concerns. You can read the details at www.afterschoool.tk or at www.afterschool.tk
PRESENTATION USED FOR PGPSE PARTICIPANTS OF AFTERSCHOOOL. JOIN AFTERSCHOOOL - IT IS THE BEST WAY TO BECOME AN ENTREPRENEUR AND WORK FOR SOCIAL DEVELOPMENT
Creating an islamic compliant trust a guide for south carolina muslim resid...scmuslim
This document provides guidance for Muslims in South Carolina on creating an Islamic compliant trust. It explains that a trust is similar to an Islamic waqf in that property is given to a third party to hold for the benefit of others. The document then discusses important considerations for Muslims in structuring a trust, including appointing a wali or guardian to ensure sharia compliance, using a discretionary trust structure, and whether to make the trust revocable or irrevocable. It also addresses how trusts work under South Carolina law and interactions with probate, wills, and estates.
Validity of contingent and conditional bequests Utkarsh Kumar
Introduction – ‘Vest’ meaning and differences
Contingent Bequests
Conditional Bequests
Validity of conditions subsequent & forfeiture of bequest – with reference to S. 134
Defeasance clause – distinguished from repugnant clause
Conclusion
This document discusses various types of charges that can be created over different types of securities to secure loans. It defines mortgage, hypothecation, pledge, lien, assignment and personal guarantee. It explains key characteristics of different kinds of charges like fixed charge, floating charge and crystallization. It also summarizes different types of mortgages like simple mortgage, conditional sale, usufructuary mortgage and equitable mortgage.
The document discusses various types of borrowings against property in India. It begins by defining a loan against property, where a borrower uses their property as collateral to secure a loan. It then describes different types of property-backed loans like pledge, hypothecation, lien, and various types of mortgages. Key terms like mortgagor, mortgagee and registration charges are also explained. The rights and liabilities of parties in property-backed loans are discussed at the end.
A will is a legal declaration by which a person expresses his wishes regarding the distribution of his property after his death. It takes effect only after the death of the person making the will. A will can dispose of both movable and immovable property and can appoint executors. It must be in writing and signed by the person making it, and attested by two or more witnesses.
This document discusses different types of trusts, including:
1. Express trusts like revocable living trusts, irrevocable living trusts, testamentary trusts, charitable trusts, and spendthrift trusts.
2. Implied trusts like constructive trusts and resulting trusts.
3. It provides examples of different types of trusts like a revocable living trust, constructive trust, and resulting trust.
4. It outlines the four elements required for a valid trust and the five specific duties of a trustee.
This document discusses succession and inheritance under Philippine law. It defines succession as the transmission of a decedent's property, rights and obligations to heirs through death, either by will or intestacy. It outlines the elements of succession including transmission upon death. It also discusses intestate succession and the scenarios where a person can be presumed dead, as well as the different types of wills and testamentary capacity requirements. The document provides an overview of inheritance and succession under Philippine law.
A mortgage is a form of security interest that arises over real property to secure a loan. It transfers certain proprietary rights to the lender (mortgagee) while the borrower (mortgagor) retains ownership. The mortgagee's rights are limited and allow enforcement only if the borrower defaults. Mortgages can be classified as transferring full ownership (mortgage stricto sensu), possession only (possessory security), or intangible rights (charge). Overall, a mortgage does not pass full ownership to the lender but rather confers certain rights over the property as security for repayment of the loan.
Using Disclaimers in Post-Mortem Estate Planninggemerich
This document discusses using disclaimers for post-mortem estate planning. A disclaimer allows an inheritance beneficiary to refuse part or all of their inheritance, causing the disclaimed assets to pass to subsequent beneficiaries as if the original beneficiary had predeceased the decedent. Disclaimers provide a way to move assets to other beneficiaries without gift tax implications. The document reviews the legal requirements for a valid disclaimer and provides an example of how disclaimers can benefit grandchildren.
This document summarizes different types of property ownership and how ownership can be acquired and transferred. It defines real property as land and fixtures, while personal property is all other forms of property. Ownership can be acquired through purchase, gifts, inheritance, or other means like adverse possession. Common types of concurrent ownership are tenancy in common, joint tenancy, and tenancy by the entirety. Bailments involve the delivery of personal property for a purpose, creating duties of care for bailees and bailors. Deeds are used to transfer interests in real property.
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FAMILY LAW - Legacy Semester II .pptx
1. FAMILY LAW
Name : Dilipkumar Mishra
FY-LLB – SEM - II
PRITI ACADMEY LAW COLLEGE
MHARALKALYAN
LEGACY
2. Definition of Legacy
A gift of money or of personal property, title to which is passed under
the terms of a will.
Legal Consequences
A bequest or gift of goods or chattels by testament. This word, though properly
applicable to bequests of personal estate only, has nevertheless been extended to
property not technically within its import, in order to effectuate the intention of the
testator, so as to include real property and annuities. Devise is the term more
properly applied to gifts of real estate.
4. General Legacy
A legacy is general, when it is so given as not to amount to a bequest of
a specific part of a testator's personal estate; as of a sum of money
generally or out of the testator's personal estate or the like.
Specific Legacy
A specific legacy is a bequest of a particular thing or money specified
and distinguished from all other things of the same kind; e.g., of a
particular horse, a particular piece of plate, a particular term of years
and the like, which would vest immediately with the assent of the
executor.
5. Residuary Legacy
A residuary legacy is a bequest of all the testator's personal estate, not
otherwise effectually disposed of by his will.
Rights Acquired by Legatee
A vested legacy is one by which a certain interest, either present or
future in possession, passes to the legatee.
A contingent legacy is one which is so given to a person, that it is
uncertain whether any interest will ever vest in him.
6. Losing a Legacy
A legacy may be lost by abatement, ademption and lapse. When the legatee
dies before the testator or before the condition upon which the legacy is given be
performed or before the time at which it is directed to vest in interest have arrived,
the legacy is lapsed or extinguished.
Paying Out Legacies
As to the payment of legacies, it is proper to consider out of what fund they are to
be paid; at what time; and to whom. It is a general rule that the personal estate is
the primary fund for the payment of legacies. When the real estate is merely
charged with those demands, the personal assets are to be applied in the first
place towards their liquidation.
7. Ademption of Legacy
Ademption is a legal principle that occurs when property specifically devised or
bequeathed under a will is no longer in the testator's estate at the time of their
death. In simpler terms, ademption happens when the property mentioned in a will
is not available or does not exist anymore when the testator passes away.
Types of Ademption
By Extinction By Satisfaction
8. When Ademption Takes Place
• Conversion of Specific
legacy into General
legacy.
• Section 158 deals with Ademption
of legacy by extinction.
• Section 159 “When stock exists
only in part at the Testator’s death,
the legacy is adeemed partly.”
• If the Testator, instead of
entire amount of property
has received only a part,
the legacy is adeemed to
that extent
• When the given gift was to
be received by the legatee
from a third party, and that
gift was received by the
Testator himself during his
lifetime, legacy is adeemed. Sec
154
Sec
155
Sec
162
Sec 158
& 159
9. Requisite of Ademption
1. The testator must have made a specific bequest in their will.
2. The property or asset being bequeathed must no longer be in the estate at
the time of the testator's death.
3. The beneficiary must not receive any other property or asset in place of the
bequest.
10. Case Laws
In case of S.Gopalaratnam v. Authorised Officer, Tanjavur (AIR 1971 Madras 400).
the court held that an agreement for sale is sufficient to constitute ademption.
Reliance was placed on a passage from Law of Succession by P.M. Bakshi 1997
Edn, where the question as to where ademption occures was considered. It is seen
mentioned as follows:
"specific bequest is adeemed by sale or contract for same of the subject
matter by the testator.
