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Full-Text Articles in Law
The Minority Doctrine Concerning Direct Restraints On Alienation, Herbert A. Bernhard
The Minority Doctrine Concerning Direct Restraints On Alienation, Herbert A. Bernhard
Michigan Law Review
Restraints on the legal power of alienation which arise by acts of the parties can be classified into three categories: disabling restraints, forfeiture restraints and promissory restraints. A disabling restraint exists when the property involved is under a direction that it shall not be alienated. A forfeiture restraint exists when the property involved will be forfeited upon alienation of the property by the conveyee. A promissory restraint exists when the conveyee has promised not to alienate the property; it may arise out of a covenant either in the conveyance itself or in a separate contract.
Future Interests - Rule Against Perpetuities - Recent Statutory Amendment In New York, Paul K. Gaston S.Ed.
Future Interests - Rule Against Perpetuities - Recent Statutory Amendment In New York, Paul K. Gaston S.Ed.
Michigan Law Review
After 128 years of criticism and confusion and enormous amounts of litigation, New York has amended its statutory rule against perpetuities. The old rule provided that the absolute power of alienation could not be suspended for longer, than "two lives in being" at the creation of the estate plus a minority exception in some cases. Under the new rule the absolute power of alienation can be suspended for a period measured by any number of "lives in being" at the creation of the estate so long as they are not "so designated or so numerous as to make proof of …
Dispositions Of Property To Unincorporated Non-Profit Associations, Harold A.J. Ford
Dispositions Of Property To Unincorporated Non-Profit Associations, Harold A.J. Ford
Michigan Law Review
It now becomes necessary to examine the cases in which the disposition could not be treated as one to the existing members. This treatment will disclose that some courts have been prepared to regard some dispositions to associations as being for the purposes of the association. The only way in which property may be devoted to a purpose without conferring beneficial interests on particular individuals is by a trust. Accordingly in many instances the disposition takes effect as a trust.
Future Interests - Restraints On Alienation - Option To Repurchase At A Fixed Price, Edward H. Hoenicke S.Ed.
Future Interests - Restraints On Alienation - Option To Repurchase At A Fixed Price, Edward H. Hoenicke S.Ed.
Michigan Law Review
Shortly after his second marriage in 1925, plaintiff deeded a house and two lots to the parents of his first wife. The grantees, along with the plaintiff, had occupied the premises since the first wife's death. The deed contained a provision that "if the second parties do not wish at any time to use the property as a home, the first parties shall have the first privilege to purchase the above described property at any future time at the price stated in this deed, viz., $4,000." In 1952, after the death of both grantees and when the property was worth …
Future Interests - Restraints On Alienation - Same Rules Applicable To Restraints On Future And Possessory Interests, Chester F. Relyea S.Ed.
Future Interests - Restraints On Alienation - Same Rules Applicable To Restraints On Future And Possessory Interests, Chester F. Relyea S.Ed.
Michigan Law Review
Testator devised real estate to his wife for life, remainder to his children, "with the following understanding," that should any child attempt to dispose of his interest before the death of the testator's wife, that child would forfeit his share and it would go to the remaining children. After the death of the testator, but before the death of his widow, one son conveyed away his interest in the property. In a suit for the partition of the real estate devised by the testator; held, on appeal, restraints on the alienation of vested estates in fee simple are against …
Trusts-Rule Against Perpetuities-Tetamentary Trust For Maintenance Of Testatrix' Home As Depository For Ashes Of Testatrix And Daughter, Richard L. Eckhart S.Ed.
Trusts-Rule Against Perpetuities-Tetamentary Trust For Maintenance Of Testatrix' Home As Depository For Ashes Of Testatrix And Daughter, Richard L. Eckhart S.Ed.
Michigan Law Review
Testatrix provided that her body should be cremated, the ashes mixed with the ashes of her deceased daughter, and both placed in a designated room on the second floor of testatrix' home. The executors were directed not to sell the home but to use rentals from the first floor to maintain it, such rentals to be obtained from any member of the Socialist Party whom the executors should find proper and able to pay the rental. Held, the attempted disposition was invalid as a violation of the rule against restraints on alienation. Alexander v. House, (Conn. 1947) 54 …
Simes On Future Interests, Charles C. White
Simes On Future Interests, Charles C. White
Michigan Law Review
It is encouraging that the law teachers are turning their talents to the writing of treatises. Recent examples are Professor Bogert's monumental work on Trusts and Professor Griswold's volume on Spendthrift Trusts. And now comes this comprehensive work on Future Interests, about which little has heretofore been written with an especial appeal to the average practitioner. Too much of the law teacher's energy has. gone into editing case books and writing law review articles. And case books and law review articles are not read by lawyers in general.
Future Interests-Rule Against Perpetuities-Application To Estate Created Under Power Of Appointment By Will Only
Michigan Law Review
The testator died in 1872 leaving to testatrix in trust certain property over which she was given a general power of appointment by will. The testatrix died in 1928 leaving this property in a trust which was found to violate the rule against perpetuities. In discussing this, the question was raised whether in testing the validity of the estate created by the power of appointment, the period of the rule is calculated from the time of the creation of the power of appointment or from the time of its exercise. Held, that the permissible period is to be measured …
Non-Assignment Provisions In Land Contracts, Edwin C. Goddard
Non-Assignment Provisions In Land Contracts, Edwin C. Goddard
Michigan Law Review
Many a sale of real estate is made to a purchaser who lacks the ready cash to pay the price. A deed of conveyance may be given with a mortgage back for the unpaid portion of the purchase price. But more and more in recent years the vendor has given a contract to convey conditioned upon the making of periodical payments of stipulated amounts, a deed to be given when the whole or a stated portion of the purchase price has been paid. The initial payment may be very small, and not infrequently the periodic payments are little more than …
Vendor And Purchaser-Right Of Purchaser To Exoneration As To A Prior Vendor's Lien
Vendor And Purchaser-Right Of Purchaser To Exoneration As To A Prior Vendor's Lien
Michigan Law Review
The case of McClure v. Southfield Woods Corporation, decided by the Michigan supreme court last year, raised an interesting question as to whether a contract vendee of land which is included in a tract subject to a pre-existing vendor's lien has a right of exoneration against his vendor as to such incumbrance. The plaintiff in that case had sold land to the Southfield Woods Corporation by a contract which provided for joinder of the vendor and vendee in a subdivision plat and for release of any lots from the vendor's lien upon payment of a stipulated sum, in addition …
The Suspension Of The Absolute Power Of Alienation, Oliver S. Rundell
The Suspension Of The Absolute Power Of Alienation, Oliver S. Rundell
Michigan Law Review
In his Nature and Sources of Law, John Chipman Gray says, "The Common Law has often been reproached with the lack of precision and certainty in its definitions, but, in truth, it is a great advantage of the Common Law, and of the mode of its development by judicial decision, that its definitions are never the matters resolved by the cases; they are never anything but dicta. If at the end of the sixteenth, or of the seventeenth, or even of the eighteenth century, there had been definitions binding by statute on the Courts; if the meaning of 'contract', and …