Legal Definition and Related Resources of Bargain And Sale
Meaning of Bargain And Sale
bargain and sale was a method of conveyance in England, founded on the statute of Uses, 1536. under this method, the bargainor contracts to sell the land and receives the purchase money . After this he is, in equity , considered as seised of the land to the use of the bargainee and the statute united the possession to the use, so that the very instant the use is raised the possession is joined to it and the bargainee becomes seised of the land. The significance of the words bargain and sale have been modified since the days of its origin in feudal England and in the United States today the words are sufficient to convey the full fee simple title . See Richarsan v Levi, 3 S. W. 444, 67 Tex. 359
Bargain And Sale Alternative Definition
A contract or bargain by the owner of land, in consideration of money or its equivalent paid, to sell land to another person, called the “bargainee,” whereupon a use arises in favor of the latter, to whom the seisin is transferred by force of the statute of uses. 2 Washb. Real Prop. 128. A real contract, whereby a person bargains and. sells his lands to another for a pecuniary consideration, in consequence of which a use arises to the bargainee, and by the statute of uses the legal estate and actual possessions are immediately transferred to the cestui que use without any entry or other act on his part, thus dispensing with livery of seisin. Devi. Deeds, § 23.
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Bargain And Sale in Historical Law
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What does Bargain And Sale mean in American Law?
In real property conveyancing, a method of conveying land. Let us say that a contract is entered into between vendor and purchaser. (Under the Statute of Frauds this contract must ordinarily be written.) The purchaser pays the consideration he has promised. From a very early time the English Court of Chancery held that at that point the vendor held the land “to the use of” the vendee, i.e., in modern terms, as trustee for the vendee. By the Statute of Uses (1535), such uses were “executed” in favor of the purchaser, i.e., he came to have in his own right the same title (including seisin) that the vendor had had prior to the bargain and sale. This made secret conveyances possible, as the transfer of legal title was now possible without deed and livery of seisin, etc. This in turn led to the long series of statutory enactments in both the U.S. and England designed to prevent secret conveyances (e.g., by requiring registration of land titles) and to cope with the parties” continuous desire to evade the requirement of publicity, e.g., by bargaining and selling leasehold interest. See lease and release. But the bargain and sale contract still may function as a deed, i.e., an instrument of conveyance, and it will often be effectual between the parties, or if in compliance with applicable title registration statutes, in general.
“Bargain and sale” is also used to describe the process of selling personal property which involves first an executory agreement to sell (the “bargain”) followed by a completed “sale.”
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