RoaldDahl
16:15
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Warning
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LSDefine
Simple English definitions for legal terms
fettering of property
Read a random definition: ostensible agent
A quick definition of fettering of property:
Fettering of property is when the ownership of property becomes more complicated because it is split into different parts. This means that people who have separate interests in the property must work together to manage it properly. For example, if one person owns the property now but someone else will own it in the future, they must cooperate to make decisions about the property. This can also happen when multiple people own the property together, like in a tenancy in common.
A more thorough explanation:
Fettering of property refers to the act of making the ownership or disposition of property more complicated, so that those with separate interests must work together to manage their interests effectively.
This occurs when ownership is divided into two or more interests, such as when present and future interests are separated or when a tenancy in common is established.
An example of fettering of property is when a father leaves his house to his son, but stipulates in his will that the son cannot sell the property until he turns 30 years old. This means that the son cannot sell the property until he reaches a certain age, even if he needs the money or wants to move.
Another example is when a property is owned by multiple people as tenants in common. Each owner has a separate interest in the property, and they must work together to make decisions about the property, such as whether to sell it or make improvements.
These examples illustrate how fettering of property can make ownership more complex and require cooperation between those with separate interests.