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Definition of “Limited Owner.”
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VII. The Expression “Limited Owner” as used in this Part of this Act shall mean any Person entitled under any existing of future Settlement at Law or in Equity, for his own Benefit and for the Term of his own Life, to the Possession or Receipt of the Rents and Profits of Land, whether subject or not to Incumbrances, in which the Estate for the Time being subject to the Trusts of the Settlement is an Estate for Lives or Years renewable for ever, or is an Estate renewable for a Term of not less than Sixty Years, or is an Estate for a Term of Years of which not less than Sixty are unexpired, or is a greater Estate than any of the foregoing Estates.
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