Business, Legal & Accounting Glossary
n. an old feudal expression for a title to real property which can only be passed to one’s heirs “of his body” or certain heirs who are blood relatives. If the bloodline ran out (no children) then the title would revert to the descendants of the lord who originally gave the land to the title-holding family. Thus, it could not be transferred to anyone outside the family. The intention was to keep lands within a family line and not subdivided. In the 16th century England, trusts were established to get around this “restraint on alienation” so the land could be held in trust for another person to use. Fee tail is of historic and academic interest only.
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This glossary post was last updated: 28th April, 2020 | 0 Views.