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In property law, alienation is the voluntary act of an owner of some property to dispose of the property. Alienability is the quality of being alienable , i.e., the capacity for a piece of property or a property right to be sold or otherwise transferred from one party to another.
In New Zealand, Te Ture Whenua Maori Act 1993/Maori Land Act 1993 puts restrictions on alienation of land owned by a Māori person, or by a group which is predominantly Māori. Sections 146 and 147 of the Act force an owner of Māori land who wishes to alienate their interest in the land to give right of first refusal to people belonging to ...
A spendthrift trust is an example of an arrangement containing an anti-alienation provision. The governing document of such a trust provides that the trust corpus may not be reached by creditors while the property is held in the trust. [1] Creditors aware of this legal restriction on alienation may choose not to lend to the spendthrift.
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A clause in the terms of a trust agreement that complies with the above-quoted statute is an example of what the law calls an "anti-alienation provision." To continue with the example of the Texas law, the Texas Property Code further provides:
Under the statute of uses, modern real property law disregards this subtle distinction. [citation needed] A bargain and sale deed is especially used by local governments, fiduciaries such as executors, and in foreclosure sales by sheriffs and referees.
Opt-out clauses: Soto has the right to opt out of his contract after the 2029 season. The Mets also have the right to void Soto’s buyout if they increase his salary from $51 million to $55 ...