Page:United States Statutes at Large Volume 76A.djvu/179

–83– -83§ 151. Ownership All property has an owner, whether that owner is the government, and the property public, or the owner an individual, and the property private. § 152. Persons who may own property Any person, whether citizen or alien, may take, hold, and dispose of property within the Canal Zone. CHAPTER 11—MODIFICATIONS OF OWNERSHIP SUBCHAPTER I

INTERHSTS IN PROPERTY

Sec.

181. 182. 183. 184. 185. 186. 187. 188. 189. 190. 191. 192. 193. 194. 195. 196. 197. 198. 199. 200. 201. 202. 203. 204.

Ownership as absolute or qualified. Absolute ownership. Qualified ownership. Several ownership. Ownership of several persons. Joint interest. Partnership interest. Interest in common. Community property. Interests classified as to time. Present interest. ruture interest. Perpetual Interest. Limited interest. Kinds of future interests. Vested future interests. Contingent future interests. Two or more future interests. Future interests; improbability of contingency. Future interests; posthumous children. Transfer of title to' future interests. Future interests; possibilities. Future interests which are recognized. United States bonds or obligations; title upon death of owner or co-owner. SUBCHAPTER H

231. 232. 233. 234. 235.

CONDITIONS OF OWNERSHIP

Time of enjoyment of property. Conditions precedent or subsequent. Conditions precedent requiring wrongful or unlawful acts. Conditions in restraint of marriage. Conditions restraining alienation. SUBCHAPTER III

RESTRAINTS UPON ALIENATION

251. Rule against perpetuities; vesting of interest in property. 252. Same; determination of permissible period for vesting of future interest. SUBCHAPTER IV—ACCUMULATIONS

271. 272. 273. 274. 275.

Dispositions of income. Accumulations which are void. Accumulation of income. Directions for accumulation beyond limit. Destitute beneficiaries.

Subchapter I—Interests in Property § 181. Ownership as absolute or qualified The ownership of property is either: (1) absolute; or (2) qualified. § 182. Absolute ownership The ownership of property is absolute when one person has the absolute dominion over it, and may use it or dispose of it according to his pleasure, subject only to general laws.

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