Heirloom
Encyclopedia
In popular usage, an heirloom is something, perhaps an antique or some kind of jewelry, that has been passed down for generations through family members.
The term originated with the historical principle of an heirloom in English law
, a chattel which by immemorial usage was regarded as annexed by inheritance
to a family estate
. Loom originally meant a tool. Such genuine heirlooms were almost unknown by the beginning of the twentieth century.
it by will
away from the estate. If he died intestate it went to his heir-at-law, and if he devise
d the estate it went to the devisee. The word subsequently acquired a secondary meaning, applied to furniture, pictures, etc., vested in trustees to hold on trust for the person for the time being entitled to the possession of a settled house. Such things were more properly called settled chattels. As of 1 January 1997, no further settled land can be created and the remaining pre-existing settlements have a declining importance in English law.
An heirloom in the strict sense was made by family custom, not by settlement. A settled chattel could be sold under the direction of the court, and the money arising under such sale is capital money
. The court would only sanction such a sale if it could be shown that it was to the benefit of all parties concerned and if the article proposed to be sold was of unique or historical character. The court had regard to the intention of the settlor man and the wishes of the remainder men.
The term originated with the historical principle of an heirloom in English law
English law
English law is the legal system of England and Wales, and is the basis of common law legal systems used in most Commonwealth countries and the United States except Louisiana...
, a chattel which by immemorial usage was regarded as annexed by inheritance
Inheritance
Inheritance is the practice of passing on property, titles, debts, rights and obligations upon the death of an individual. It has long played an important role in human societies...
to a family estate
Estate (law)
An estate is the net worth of a person at any point in time. It is the sum of a person's assets - legal rights, interests and entitlements to property of any kind - less all liabilities at that time. The issue is of special legal significance on a question of bankruptcy and death of the person...
. Loom originally meant a tool. Such genuine heirlooms were almost unknown by the beginning of the twentieth century.
English legal history
Any owner of a genuine could dispose of it during his lifetime, but he could not bequeathBequest
A bequest is the act of giving property by will. Strictly, "bequest" is used of personal property, and "devise" of real property. In legal terminology, "bequeath" is a verb form meaning "to make a bequest."...
it by will
Will (law)
A will or testament is a legal declaration by which a person, the testator, names one or more persons to manage his/her estate and provides for the transfer of his/her property at death...
away from the estate. If he died intestate it went to his heir-at-law, and if he devise
Devise
Devise may refer to:* To invent something* A disposition of real property in a will* Devise A Free and Open Software project providing application user authentication through Warden* Devise, Somme...
d the estate it went to the devisee. The word subsequently acquired a secondary meaning, applied to furniture, pictures, etc., vested in trustees to hold on trust for the person for the time being entitled to the possession of a settled house. Such things were more properly called settled chattels. As of 1 January 1997, no further settled land can be created and the remaining pre-existing settlements have a declining importance in English law.
An heirloom in the strict sense was made by family custom, not by settlement. A settled chattel could be sold under the direction of the court, and the money arising under such sale is capital money
Capital (economics)
In economics, capital, capital goods, or real capital refers to already-produced durable goods used in production of goods or services. The capital goods are not significantly consumed, though they may depreciate in the production process...
. The court would only sanction such a sale if it could be shown that it was to the benefit of all parties concerned and if the article proposed to be sold was of unique or historical character. The court had regard to the intention of the settlor man and the wishes of the remainder men.