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wise obliged or concerned to see to the application of the money therein mentioned and acknowledged to be received {f). [Power for the appointment of new trustees, supra, p. 324(^).] In Witness &c.

ASSIGNMENT

TO TRUSTEES, INCONTEMPLATION OF MARRIAGE, OF SUMS OF MONEY OUTSTANDING ON SECURITIES.

IV.

CONVEYANCE, in contemplation of Mar- Conveyance,

INCONTEMPLA-
TION OF MAR-

RIAGE, of a Moiety of a Freehold Estate

for Lives, and of Policies Of Assurance on Kiage, In

iT- rn n !TN TRUST FOR

the Lives, upon 1 Rust for Sale, with a De- Sale.

CLARATION of TRUST of the PuRCHASE-MoNEY

by Reference to a Settlement of Even Date.
Provisions for a Renewal of the Lease and
Insuring the New Lives, in case it become
necessary before the Sale. Power of Leasing
until Sale. Usual Clauses and Covenants (a).

THIS INDENTURE, made &c, Between A. B., of Parties.
&c, [intended husband], of the first part; C. D., of &c,

(/) This power for the trustees to give receipts for the monies assigned, is essentially necessary. (See ante, Vol. 3, p. 293, n. (</).; supra, p. 324, n. (r).

(g) The power of appointing new trustees is a necessary part of a As to the indeed of this nature, because the object would be defeated if a new B"tion in deeds

.... , . » . i » , of even date

appointment could only be made by referring to the power m the witn 8ettle.

settlement. Of course the power in this deed must correspond verbatim ments, of clau

with that in the settlement, so that a new trustee of both deeds may ses f?r tne new

. . appointment,

always be appointed at the same time. indemnity, and

It is sufficient to insert the clauses for the indemnity of trustees, and payment of

for the payment of their expenses, in the settlement, taking care that the trusteea

words of these clauses are sufficiently extensive to cover the trusts of the

deed of assignment.

(a) Whenever land is intended to be settled in trust for all the chil- Land to be set

dren of a marriage, equally, or as the father or mother shall appoint, t'^(jaln0nf t'le

by far the best mode of settlement is, to vest the land in the trustees, intended mar

CONVEYANCE, IN CONTEMPLATION OF MARRIAGE, IN TRUST FOR SALE.

riage should be impressed with a trust for sale;

—by a deed of even date with, but executed before the settlement.

Precedent applicable to he

(one of the daughters of A. D., of &c), [intended wife], of the second part; and E. F., of &c, and G. H., of &c,

upon trust for sale, and declare the trusts of the purchase-money, adding a provision, that the rents of the land, until a sale, shall be applied as the income of the purchase-money would be applicable, in case the sale had then been made, and the money invested; for the nature of land renders it extremely inconvenient to vest the legal inheritance in an indefinite number of children. The management of the land during the minority of the children, or after the majority of some and the minority of others, is difficult to provide for; and the needful provisions for the accruer and survivorship of children's shares, and for their advancement and maintenance, cannot be adapted satisfactorily, or otherwise than in a very cumbersome form, to settlements of real property. A precedent of such a settlement will be given farther on, because many settlors will not hear of their land being directed to be sold; but, in truth, this direction for sale is merely fictitious, and is given in order that the trusts may be conveniently and satisfactorily framed. The consent of the husband and wife or the survivor is always made requisite to a sale during their lives, and, even after their deaths, the trustees never sell, unless the cestuis que trust or those who are of age desire it: and then is the time at which one of the great advantages of this mode of trust is felt; for, if the legal estate be limited to the children, no sale can be made till all the children have attained twenty-one; and if, in the meantime, any of them die leaving infant heirs at law, or settle their shares by will or deed in an improper manner, the time for eftecting a sale may be indefinitely postponed. Every solicitor should strongly impress upon his clients the advantages of a mode of settlement which enables a sale to be effected at any moment that the situation of the family requires it, without rendering it imperative a day before the convenient time.

It is to be observed, that the only proper way is, to impress the land with an actual trust for sale; a mere declaration, that it shall be held as money or deemed personal estate, is awkward and unmeaning, and, perhaps, ineffectual; at least, it is not possible to say what construction would be put on such a declaration, or how it would amalgamate with the usual trusts and clauses of a settlement of personal estate.

Of course, the land should be vested in the trustees by a deed of even date with, but executed before, the settlement, and the trusts of the purchase-money (for which the trustees must have power to give receipts) declared by reference to the settlement; for, otherwise, the settlement would form part of the title deeds of the estate,—a circumstance which would cause perhaps greater inconvenience to the settlor than in the case of a mortgage debt intended to be settled. (See supra, p. 333, n. (a)).

The precedent in the text deals with a lease for lives; but it may be easily applied to freeholds of inheritance, leaseholds for years, copyholds, [trustees], of the third part: Whereas, by an indenture Conveyance,

, . , - 1 - , - INCONTEMPLA

bearing date the day of , and made or expressed to T,ON Op Mar

be made between the Dean and Chapter, of &c, of the one RIAOEIN

r' ' _ TRUST FOR

part, and M. N., of the other part: For the considerations Sale. therein mentioned, the said Dean and Chapter did demise Recital of a and grant unto the said M. N. All, That, &c. [parcels from leise for UfMi the lease, consisting of a parsonage, glebe lands, houses and tithes, with an exception of the right of presentation to the vicarage, of timber, #c]; To hold the same unto the said M. N., his heirs and assigns, for the lives of X. then aged

years, Y. then aged years, and Z. then aged

years, and for the life of the longest liver of them, at the

yearly rent of £ , and under and subject to the covenants,

conditions, and agreements in the said indenture contained, and on the part of the lessee, his heirs or assigns, to be observed and performed; And Whereas a policy of assurance, —of policies of

bearing date the day of , and numbered , was "'""^effect

effected with the Assurance Office, in the name of the ed on the lives

said M. N., on the life of the said X., for the sum of £ , que tie.

and under the actual premium of £ , now reduced to

£ ;[Recitals of similar policies on the lives of Y. and

Z.\; And Whereas, by divers mesne assurances and acts —of an equal in the law, one equal moiety or half part of the said par- {JJuawid d* sonage, glebe houses, lands, and tithes, by the said indenture policies having

of the day of , demised, or expressed and intended intended

so to be, for the lives aforesaid, and also one equal moiety husband; or half part of the said policies of assurance on the lives of the said X., Y., and Z., and of the monies to become payable thereunder, became vested in the said A. B.; And — oftheagreeWhereas a marriage has been agreed on, and is intended to ment.,or 1"*

° o' marriage;

be shortly had and solemnized, between the said A. B. and the said C. D.; And Whereas, on the treaty for the said —oftheagreeintended marriage, it was agreed that the said A. B. should TM„ "J^j1", convey and assign, in manner hereinafter mentioned, the said tate in the lease moiety of him thesaid A. B. of and in the said parsonage, glebe Jhoufdbe'settled.

or hereditaments of any tenure. A precedent of a similar deed, deal- reditaments of ing with a reversionary copyhold estate, is given infra. See Prece- tenure, dent XL, and see too Precedent XII.

CONVEYANCE, IN CONTEMPLATION OF MARRIAGE, IN TRUST FOR SALE.

Witnesseth, conveyance to the trustees;

—of the freehold hereditaments.

Habendum for the lives of the cestuis que vie, upon trusts to be subsequently declared.

houses, lands, and tithes, comprised in the said indenture of

the day of , {the lease'], and of and in the said

policies of assurance on the lives of the said X., Y., and Z., respectively, unto the said E. F. and G. H., their executors, administrators, and assigns, upon and for the trusts, intents, and purposes, and with, under, and subject to the powers, provisoes, agreements, and declarations hereinafter declared and contained or referred to of and concerning the same respectively: NOW THIS INDENTURE WITNESSETH, that, in pursuance of the said agreement, and in consideration of the said intended marriage, he the said A. B., with the privity and consent of the said C. D., (testified by her being a party to and executing these presents) (b), hath granted, released, and confirmed, and by these presents doth grant, release, and confirm, unto the said E. F. and G. H., (in their actual possession now being, by virtue of a bargain and sale thereof to them made by the said A. B., in consideration, &c), All That the equal moiety or half part of him the said A. B. of or in the said parsonage, glebe houses, lands, tithes, hereditaments, and premises demised, or expressed to be demised, by the said indenture of the —:— day of , with their appurtenances;

And All The Estate, &c.: To Have And To Hold the said equal moiety or half part, and all and singular other the premises hereinbefore released, or expressed and intended so to be, unto the said E. F. and G. H., their executors, administrators (c), and assigns, To The Use of the said E. F. and G. H., their executors, administrators, and

Peculiarity of language occasioned by the property being held pur auter vie.

(6) See supra, p. 335, n. (4).

(c) The property settled, being in this case freehold pur auter vie, can be limited to the trustees, "their executors and administrators;" which is obviously a great convenience, both with regard to the declaration of the trusts, and to future dealings under the trusts declared. If the land settled be freehold or copyhold of inheritance, the limitation must, of course, be to the trustees and" their heirs;" which will necessitate the substitution of "hein■" for "executors and administrators" throughout the deed whenever the land is spoken of, and will also require some slight alteration in the language of the trusts of the settlement. See infra, Precedent XI.

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assigns, for and during the lives of the said X., Y., and Z., Conveyance,

and the lives and life of the survivors and survivor of them, 'tion^op Ma"-" nevertheless, upon and for the trusts, intents, and purposes, Riaoe, In and with, under, and subject to the powers, provisoes, Sale*°r agreements, and declarations hereinafter declared and con

rained or referred to of and concerning the same. AND Witnesseth, THIS INDENTURE ALSO WITNESSETH, that, in

'' ment to the

further pursuance of the said agreement, and in considera- trustees; tion of the said intended marriage, he the said A. B., with the privity and consent of the said C. D., (testified as aforesaid) (d), hath assigned, and by these presents doth assign, unto said E. F. and G. H., their executors, administrators, and assigns, All That the equal moiety or half part of him —of the husthe said A. B. of and in the said policies of assurance, here- in,te reBt

i 'in the policies

inbefore particularly mentioned, on the lives of the said X., of assurance. Y., and Z., respectively, and of and in all and every the bonuses and additions, sum and sums of money to become payable or to be received under or by virtue of the same respectively, and the full benefit thereof, And All The EsTate, &C: To HavE, HOLD, RECEIvE, AND TAKE the said Habendum

equal moiety or half part, and all and singular other the bHuWquently premises hereinbefore assigned, or expressed and intended declared, so to be, unto the said E. F. and G. H., their executors, administrators, and assigns, upon and for the trusts, intents, and purposes, and with, under, and subject to the powers, provisoes, agreements, and declarations hereinafter declared and contained or referred to of and concerning the same; And It Is Hereby agreed and de- Declaration of clared between and by the parties to these presents, that trust' the said E. F. and G. H., their executors, administrators, and assigns, do and shall stand and be seised and possessed of and interested in the said moieties, hereinbefore released and assigned respectively, of the said hereditaments, policies of assurance, monies, and premises, In Trust _for the husfor the said A. B., his executors, administrators, and as- band till roar

. . . n . riage;

signs, in the meantime, and until the said intended marriage shall be solemnized: And From And After the so- —and after

(d) See supra, p. 335, n. (6).

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