2. Definitions of terms
The several words hereinafter named are herein used and applied in the manner following respectively, that is to say: ¾
The word 'land' shall extend to and include messuages, tenements and hereditaments, corporeal and incorporeal, of every description, situated within the said Colony, whatever may be the estate or interest therein.
The word 'stock' shall mean any fund, annuity or security transferable in books kept by any company or society established or to be established within the said Colony, or transferable by deed alone, or by deed accompanied by other formalities and any share or interest therein.
The word 'seized' shall be applicable to any vested estate for life or of a greater description, and shall extend to estates at law and in equity, in possession or in futurity, in any lands.
The word 'possessed' shall be applicable to any vested estate less than a life estate at law or in equity, in possession or in expectancy, in any lands.
The words 'contingent right,' as applied to lands, shall mean a contingent or executory interest, a possibility coupled with an interest, whether the object of the gift or limitation of such interest or possibility be or be not ascertained, also a right of entry, whether immediate or future and whether vested or contingent.
The words 'convey' and 'conveyance' applied to any person shall mean the execution by such person of every necessary or suitable assurance for conveying or disposing to another lands whereof such person is seized or entitled to a contingent right, either for the whole estate of the person conveying or disposing, or for any less estate, together with the performance of all formalities required by law to the validity of such conveyance, including the acts to be performed by tenants in tail.
The words 'assigned' and 'assignment' shall mean the execution and performance by a person of every necessary or suitable deed or act for assigning, surrendering or otherwise transferring lands of which such person is possessed, either for the whole estate of the person so possessed or for any less estate.
The word 'transfer' shall mean the execution and performance of every deed and act, by which a person entitled to stock can transfer such stock from himself to another.
The word 'trust' shall not mean the duties incident to an estate conveyed by way of mortgage; but with this exception, the words 'trust' and 'trustee' shall extend to and include implied and constructive trusts, and shall extend to and include cases where the trustee has some beneficial estate or interest in the subject of the trust, and shall extend to and include this duties incident to the office of personal representative of a deceased person.
The word 'lunatic' shall mean any person who shall have been found to be a lunatic upon a commission of inquiry in the nature of a writ de lunatico inquirendo.
The expression 'person of unsound mind' shall mean any person not being an infant, who, not having been found to be a lunatic, shall be incapable from infirmity of mind to manage his own affairs.
The word 'devisee' shall, in addition to its ordinary signification, mean the heir of a devisee and the devisee of an heir, and generally any person claiming an interest in the lands of a deceased person, not as heir of such deceased person, but by a title dependent solely upon the operation of the laws concerning devise and descent.
The word 'mortgage' shall be applicable to every estate, interest of property in lands or personal estate, which would in a Court of Equity be deemed merely a security for money.
[Section 2 amended by No. 28 of 2003 s. 130(2).]