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Feoffee is a historical term relating to the law of trusts and equity, referring to the owner of a legal title of a property when he is not the equitable owner. Feoffees essentially had their titles stripped by the Statute of Uses 1535, whereby the legal title to the property being held by the feoffee was transferred to their cestui que use.
The fees were often lands, land revenue or revenue-producing real property, typically known as fiefs or fiefdoms. [4] Over the ages and depending on the region a broad variety of customs did develop based on the same legal principle. [5] [6] The famous Magna Carta for instance was a legal contract based on the medieval system of land tenure.
Capitalization rate (or "cap rate") is a real estate valuation measure used to compare different real estate investments. Although there are many variations, the cap rate is generally calculated as the ratio between the annual rental income produced by a real estate asset to its current market value. Most variations depend on the definition of ...
The term feoffment derives from a conflation of fee with off (meaning away), i.e. it expresses the concept of alienation of the fee, in the sense of a complete giving away of the ownership. The medieval English law of property was based on the concept of transferring ownership by delivery: easy to do with a horse, but impossible with land, i.e ...
Under the English feudal system several different forms of land tenure existed, each effectively a contract with differing rights and duties attached thereto. Such tenures could be either free-hold if they were hereditable or perpetual or non-free if they terminated on the tenant's death or at an earlier specified period.
Feudal land tenure existed in many varieties. The sole surviving form in the United States is that species of freehold known as free socage. Here the service to be performed is known and fixed, and not of a base or servile nature; the "lord of the fee" is the State itself, and the service due to this "lord" is payment of the taxes upon the real ...
The feudal system in England gradually became more and more complex until eventually the process became cumbrous and services difficult to enforce. As a result, the statute of Quia Emptores was passed in 1290 to replace subinfeudation with substitution, so the subordinate tenant transferred their tenure rather than creating a new subordinate ...
The adjective feudal was in use by at least 1405, and the noun feudalism was in use by the end of the 18th century, [4] paralleling the French féodalité.. According to a classic definition by François Louis Ganshof (1944), [1] feudalism describes a set of reciprocal legal and military obligations of the warrior nobility that revolved around the key concepts of lords, vassals and fiefs, [1 ...