Author Topic: help with meaning of auction conditions  (Read 1251 times)

Offline welshspencer

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Re: help with meaning of auction conditions
« Reply #9 on: Wednesday 13 December 17 18:39 GMT (UK) »


If it went to Catherine for her life and the land your said could of gone to George children wouldn’t there be mention of this in the article?

so in my life estate because sarah and george never mentioned their children it would not then pass to them?  is that correct


regards

The tenancy would pass to the named person Catherine Trickey -- ownership of the land would be quite separate

So the ownership of the land could be left to one of Sarah & Georges children with  Catherine Trickey as a life tenant able to stay there until her death

Offline andrewalston

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Re: help with meaning of auction conditions
« Reply #10 on: Thursday 14 December 17 14:44 GMT (UK) »
Property is often dealt with in terms of a lease. The owner (the freeholder) hands the use of land or a building to a leaseholder in return for a sum of money, or for an amount to be paid regularly. The contract describing the terms is called a lease.

The land and a building on it can be dealt with separately. Thus my mum's house is owned by her, and could readily be sold, but she pays a sum to the owner of the land it sits on. That sum is written into the lease. The "ground rent" was commonly fixed (my mum pays three guineas a year - £3.15), but modern properties may have all sorts of clauses allowing the amount to be increased, sometimes exorbitantly. Older leases quoted sums which seemed good at the time, but a lease is commonly for 99 or even 999 years, and inflation was not taken into account.

In the 19th century and earlier, there was a tendency for agricultural property to have a lease specified not in a fixed number of years, but in a number of lives - usually three lives in my part of the world. The exact people would be specified in the lease, and it was common to have a spread across the generations. Thus, the current farmer would be named, unless he was past "middle aged". His son might be next, as he would be the next likely person in charge. Then a grandchild of the current farmer, usually one who had already survived infancy.

This gave the business a chance of long term planning, knowing that the farm would still be in the family many years into the future.

Note that the people named in the lease need not actually be involved in running the farm. It is enough that they still be alive, and that SOMEONE pays the ground rent to the freeholder. Thus, a first born child might have been a girl, and named in the lease. A son born later might be the one running the farm when he grew up. It would be in his interest to ensure that his older sister lived a long life.

Once the last person named in the lease dies, or the fixed term expires, the property automatically reverts to the freeholder. It is normal to allow renegotiation of the lease at any time, but the freeholder is normally in a strong position to dictate terms.

Sometimes, when the ground rent is small, the owner might be willing to sell the freehold so as to get a reasonable amount of cash now. My mum, though, doesn't feel like shelling out thousands just to own the freehold of the land her house sits on. When the lease runs out, the freeholder will have received a total of only a few thousand pounds, and I've a feeling that the cost of sending out her bill and processing the payment already exceeds the cash she hands over each year.

In "Pride and Prejudice", Mr. Darcy's ten-thousand-a-year would be made up of thousands of these property leases. It's an easy way to live - you just own the land and other people do the work of farming it.

Looking at ALSTON in south Ribble area, ALSTEAD and DONBAVAND/DUNBABIN etc. everywhere, HOWCROFT and MARSH in Bolton and Westhoughton, PICKERING in the Whitehaven area.

Census information is Crown Copyright. See www.nationalarchives.gov.uk for details.

Offline josey

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Re: help with meaning of auction conditions
« Reply #11 on: Thursday 14 December 17 14:51 GMT (UK) »
Good & clear explanation, Andrew, thanks.
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