Dear Michael ~
Yes, you're entirely correct. Sir John Cornwall, Lord Fanhope,
conveyed the great tenement on Thames Street in London in 1434, to
William Londroppe, John Fitz Geoffrey, and Walter Pijou, subject to a
rent charge of 40 marks. It was a rent charge, not a life rent.
Under the terms of his first will dated 1437, the rent charge was to
be used for prayers for Lord Fanhope's soul (may he rest in peace).
If I understand the testimony correctly, however, Lord Fanhope also
held a life estate in the property, in addition to the rent charge.
Needless to say, this is a rather unique situation, but it certainly
is not irregular.
Basically,it shows how the ownership of property consists of a bundle
of rights, which rights can be bought, sold, or leased separately from
each other. Property can be held outright, or held for the term of a
person's life. If a property is held for life, the reversionary
rights can be bought and sold, again and again. A life estate can
also be bought and sold.
In any event, it's definitely an interesting lawsuit. Thank you for
your comments.
Best always, Douglas Richardson, Salt Lake City, Utah
mj...@btinternet.com wrote:
> > Dear Newsgroup ~
> >
[quoted text clipped - 19 lines]
>
> Regards, Michael