INTEREST

In property.. The most general term that can be employed to denote a property in lands or chattels. In its application to lands or things real, it is frequently used in connection with the terms "estate," "right,'' and "title," and, according to Lord Coke, it properly includes them all. Co. Litt. 345b. See Ragsdale v. Mays, 65 Tex. 257; Hurst v. Hurst, 7 W. Va. 297; New York v. Stone, 20 Wend. (N. Y.) 142; State v. McKellop, 40 Mo. 185; Loventhal v. Home Ins. Co., 112 Ala. 116, 20 South. 419, 33 L. R..A. 258, 57 Am. St. Rep. 17. More particularly it means a right to have the. advantage accruing from anything; any right in the nature of property, but le than title; a partial or undivided right; a title to a share. The terms "interest" and "title" are not synonymous. A mortgagor in po e ion, and a purchaser holding under a deed defectively executed, have, both of them, absolute as well as insurable interests in the property,. though neither of them has the legal title.. F1ough v. City F. Ins. Co., 20 Conn. 20, 76 Am. Dec. 581. -Absolute or conditional. That is an absolute interest in propert,}'. which is so completely vested in the individual tbat he can by nci contingency be deprived. of it without his own consent. So, too, he is the owner of such absolute interest who must nece arily sustain the lo if the property is destroyed. The terms "interest" and "title" are not synonymous. A ·mortgagor in po e ion, and a purchaser holding under a deed defectively executed, have, botb of them, absolute, as well as insurable, interests in the property, though neither of them has the legal title. "Absolute" is here synonymous with "vested," and· is used in contradistinction to contingent or conditional. Hough v. City, F. Ins. Co., 29 Conn, 10, 76 Am. Dec. 581; Garver v. Hawkeye Ins. Co., 69 Iowa, 202 28 N. W. 555; Washington F. Ins. Co. v. kelly, 32 Md. 421, 431, 3 Am. Rep. 149; Elliott v. Ashland Mut. F. Ins. Co., 117 Pa. 548, 12 Atl. 676, 2 Am. St. Rep. 703; Williams v. 'Buffalo German Ins. Co. (C. C.) 17 Fed. 63.-Interest or no interest. These words, inserted in an insurance policy, mean that the question whether the insured has or has not an insurable interest in the subject matter is waived, and the policy is to be good irrespective of such interest. The effect of such a clause is to make it a wager policy.- Interest policy, In insurance. One which actually, or prfma faoie, covers a substantial and insurable interest; as opposed to a wag6f' policy.-Intereat suit. In English law. All action in, the probate branch of the high coul.j: of justjce;. in which. the question in dis-. pute is as to which party IB entitled to a grant of letteril of administration of the estate of & deceased peno:n. Wharton. [s. 652]