Excerpt from The Distinctions and Anomalies, Arising Out of the Equitable Doctrine of the Legal Estate
This essay is an attempt to state and examine the various anomalies and anomalous distinctions which arise out of the duality of the legal and equitable estate, and the various doubts and difficulties which are connected with the subject. These, and the duality itself from which they arise, are considered from the point of view of practically effective ownership, and from the standpoint of principle.
The phrase, "the equitable doctrine of the legal estate," is intended to describe the body of equitable principles which determine in what circumstances equity will or will not handle that great factor for good or for ill in equitable property, the legal estate, in relation to equitable rights of a proprietary character. This matter has received far less consideration and attention than its importance deserves. Indeed, I believe that the subject is here considered as a whole for the first time, and that no previous attempt to bring together the distinctions and anomalies now collected has been made. I can therefore scarcely expect that the enumeration will prove exhaustive, but it may at least be a useful beginning in the work of setting down the uncharted rocks and shoals which, to the detriment of the security and sufficiency of equitable title, and to the despair of the student of English property law, abound in this ill-surveyed sea.
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