What is Satisfied Terms Act?

Legal Definition
The statute 8 & 9 Viet. c. 112, passed to abolish satisfied outstanding terms of years in land. By this act, terms which shall henceforth become attendant upon the inheritance, either by express declaration or construction of law, are to cease and determine. This, in effect, abolishes outstanding terms. 1 Steph. Comm. 380-382; Williams, Reni Prop, pt. 4, c. 1,
-- Black's Law Dictionary