Equitable Estate

A right or Interest in land, which, not having the properties of a legal estate, but being merely a right of which courts of equity will take notice, requires the aid of such court to make it available. These estates consist of uses, trusts, and powers {q. v.) See 2 Bouv. Inst, note 1884. They possess, in some respects, the qualities of legal estates at modern law. 1 Pet. (U. S.) 508; 13 Pick. (Mass.) 154; 5 Watts (Pa.) 113; 1 Johns. Ch. (N. Y.) 508; 2 Vern. 536; 1 Brown, 499; Williams, Real Prop. 134-136; 1 Spence, Eq. Jur. 501; 1 Washb. Real Prop. 130, 161.

A right or interest in land, which, not having the properties of a legal estate, but being merely a right of which courts of equity will take notice, requires the aid of such court to make it available. These estates consist of uses, trusts, and powers. They possess in some respects the qualities of legal estates in modern law; Davis v. Mason, 1 Pet. (U. S.) 508, 7 L Ed. 239 Houghton v. Hapgood, 13 Pick. (Mass.) 154; Ege v. Medlar, 82 Pa. 86; Dunscomb v. Dunscomb, 1 Johns. Ch. (N. Y.) 508, 7 Am. Dec. 504; 2 Vern. 536; 1 Bro. C. C. 499; Wms. R. P. 134; 1 Spence, Eq. Jur. 501; 1 Washb. R. P. 130, 161. A contract for the sale of land gives the title is good against every one except a "purchaser for value without notice"; Pollock, First Book of Jurispr. 212.

An estate acquired by operation of equity, or cognizable in a court of equity; such as the estate or title of a person for whose use or benefit lands are held in trust by another, the latter having the legal estate; and the estate of a mortgagor, after the mortgage has become forfeited by non-payment, and before foreclosure.* 1 Steph. Com. 217, 285, 328. 2 Crab Vs Real Prop. 5, § 947, 442. Iloltkouse. See Equity of redemption, Trust.