Legal Definitions - pernancy

Pernancy is a historical legal term referring to the act of taking or receiving the profits, benefits, or income generated by an estate or property.

Here are some examples illustrating the concept of pernancy:

• Imagine a wealthy landowner in 17th-century England who owned several farms. The farmers who worked these lands paid a portion of their harvest, such as grain or livestock, as rent to the landowner. The landowner's regular collection and enjoyment of these agricultural products as income from their estate would be an example of pernancy.

  This illustrates pernancy because the landowner is actively "taking" or "receiving" the "profits" (the harvested goods) that their property generates.

• Consider a historical charitable trust established to support a local orphanage. The trust owned several commercial buildings in the town, which were rented out to various businesses. The trustee, acting on behalf of the orphanage, would regularly collect the rental income from these properties. The act of the trust (through its trustee) receiving these rents to fund the orphanage's operations demonstrates pernancy.

  Here, the trust is "receiving" the "profits" (rental income) from its properties, which are then used for its intended purpose.

• Suppose a noble family in the 1800s held rights to a particular forest, allowing them to harvest timber. They would contract with local lumberjacks to cut down trees, and in return, the family would receive a share of the timber or the proceeds from its sale. The family's consistent collection of these valuable resources or the money derived from them represents pernancy.

  This example shows the family "taking" or "receiving" the "profits" (timber or its monetary value) from their designated rights to the forest.