Probate and Administration Act of 1898 (ƒ), which gives to a wife the same share in her intestate husband's property as he would take in hers, that is to say: (g). (1). Where there is issue surviving, she takes onethird. (2). Where there is no issue surviving, and in case of total intestacy, (i). Where the net value of the property does not exceed £500, she takes the whole. (ii). Where the net value exceeds £500, she takes £500 with interest thereon at 4 per cent. until payment, which sum is a charge upon the whole of the property; and in addition thereto she takes onehalf share of the residue of the property. (3). Where is no issue surviving, and in case of partial intestacy, she takes one-half share. Subject to these rights of the widow the property of her deceased husband is divisible among the next of kin (h); and as before she is bound to accept the value of her share in real estate, in lieu of partition, if so desired by all the persons entitled jointly with her (i). PART II. OF INCORPOREAL HEREDITAMENTS. Our attention has hitherto been directed to real property of a corporeal kind. We have considered the usual estates which may be held in such property,-the mode of descent of such estates as are inheritable,-the tenure by which estates in fee simple are holden,—and the usual methods of the alienation of such estates, whether in the lifetime of the owner or by his will. We have also noticed the modification in the right and manner of alienation formerly produced by the relation of husband and wife, and the modern alteration thereof. Besides corporeal property, we have seen that there exists also another kind of property, which, not being of a visible and tangible nature, is denominated incorporeal. This kind of property, though it may accompany that which is corporeal, yet does not in itself admit of actual delivery. When, therefore, it was required to be transferred as a separate subject of property, it was always in ancient times conveyed by writing, that is, by deed; for we have seen that formerly all legal writings were in fact deeds. Property of an incorporeal kind was, therefore, said to lie in grant, whilst corporeal property was said to lie in livery (a). For the word grant, though it comprehends all kinds of conveyances, yet more strictly and properly (a) Co. Litt. 9a taken, is a conveyance by deed only (b). And livery, as we have seen, is the technical name for that delivery which was made of the seisin, or feudal possession, on every feoffment of lands and houses, or corporeal hereditaments. It is this difference in the mode of transfer which constitutes the chief distinction between the two classes of property. (b) Shep. Touch. 228. CHAPTER I. OF A REVERSION AND A VESTED REMAINDER. The first kind of incorporeal hereditament which we shall mention is somewhat of a mixed nature, being at one time incorporeal, at another not; and for this reason it is not usually classed with those hereditaments, which are essentially and entirely of an incorporeal kind. But as this hereditament partakes, during its existence, very strongly of the nature and attributes of other incorporeal hereditaments, particularly in the fact that, where not under the Real Property Act, it always permits, and generally in such cases requires, a deed of grant for its transfer,-it is here classed with such hereditaments. It is called, according to the mode of its creation, a reversion, or a vested remainder. I. A Reversion. If a tenant in fee simple should grant to another person a lease for a term of years, or for life, or even if he should grant an estate tail, it is evident that he will not thereby dispose of all his interest; for, in such case, his grantee has a less estate than himself. Accordingly, on the expiration of the term of years, or on the decease of the tenant for life, or on the decease of the donee in tail without having barred his estate tail and without issue, the remaining interest of the tenant in fee will revert to himself or his representatives, and he or his representative will again become tenant in fee simple in possession. The smaller estate which he has so granted is called, during its continuance, the particular estate, being only a part. or particula, of the estate in fee (c). And, during the continuance of such particular estate, the interest of the tenant in fee simple, which still remains undisposed of-that is, his present estate, in virtue of which he is to have again the possession at some future time-is called his reversion (d). 1. Mode of alienating reversion. A distinction should be noticed, in reference to seisin and its effect, between the case in which the "particular " estate is one of freehold, and that in which it is merely a lease for years, as this distinction may affect the mode of alienating the reversion. If the tenant in fee simple should have made a lease for merely a term of years his reversion is looked on, in law, precisely as a continuance of his old estate, with respect to himself and his heirs, and all other persons but the tenant for years. The owner of the fee simple is regarded as having simply placed a bailiff on his property (e); and the consequence is, that, subject to the lease, the owner's rights of alienation remain unimpaired, and may be exercised in the same manner as before. The feudal possession or seisin has not been parted with. And therefore, in the case of land under the old system, a conveyance of the reversion may, with the consent of the tenant for years, be made by a feoffment with livery of seisin (f). But, if this mode of transfer should not be thought eligible, a grant by deed will be equally efficacious. For the estate of the grantor is strictly incorporeal, since the tenant for years has the actual possession of the lands. So long, therefore, as such actual possession continues, the estate in fee simple is (c) 2 Bl. Com. 165. 2 Bl. Com. 141. (f) Co. Litt. 48b, n. (8); Perkins, 220. |