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The Perpetual Union is a feature of the Articles of Confederation and Perpetual Union, which established the United States of America as a political entity and, under later constitutional law, means that U.S. states are not permitted to withdraw from the Union.
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
Mortmain (/ ˈ m ɔːr t m eɪ n / [1] [2]) is the perpetual, inalienable ownership of real estate by a corporation or legal institution; the term is usually used in the context of its prohibition. Historically, the land owner usually would be the religious office of a church; today, insofar as mortmain prohibitions against perpetual ownership ...
The Articles of Confederation and Perpetual Union was an agreement among the 13 states of the United States, formerly the Thirteen Colonies, that served as the nation's first frame of government. It was debated by the Second Continental Congress at Independence Hall in Philadelphia between July 1776 and November 1777, and finalized by the ...
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
The act which consummated her admission into the Union was something more than a compact; it was the incorporation of a new member into the political body. And it was final. The union between Texas and the other States was as complete, as perpetual, and as indissoluble as the union between the original States.
On March 1, 1781, the Articles of Confederation and Perpetual Union were signed by delegates of Maryland at a meeting of the Second Continental Congress in Philadelphia, which then declared the Articles ratified. As historian Edmund Burnett wrote, "There was no new organization of any kind, not even the election of a new President."
Valuing real estate with a capitalization rate or cap rate (the convention used in real estate finance) is a more current example. Using a cap rate, the value of a particular real estate asset is either the net income or the net cash flow of the property, divided by the cap rate. Effectively, the use of a cap rate to value a piece of real ...