law geek talk
Posted by Laura W on November 26, 1997 at 13:29:24:
In response to law geek talk, written by Kate on November 26, 1997 at 09:17:36
] The rule against perpetuities has been around for a long time. But I'm not sure that it applied necessarily to entails, I thought it only applied to beneficial ownership (trusts) not legal estates - and an entail is a form of legal, not equitable estate, isn't it?
Short answer: I don't know.
After a perusal through Black's, I'm even more confused. What is a "legal" vs. "equitable" estate?
I think an entail could logically be classified as a trust; the holder only has it for life; he may not alienate the property, or dispose of it as he chooses. In many ways he is a trustee.
I don't practice real estate law, and my property professor was hands-down the worst professor I've ever had in my entire life, and I have never yet found an explanation of entails which satisfies me. If you have a reference to suggest I would be grateful!
There is one particular point I am unclear on: can an entail be created, like a trust, in the grantor's lifetime, or must it be created by will?
Posting followups to old messages is disabled; instead go to the main index and post a new message which mentions this one.