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OF MONIES OUTSTANDING

ON SECURITIES

AND TO ARISE

FROM THE SALE

OF

REAL ESTATE.

Parties.

Recital of the

husband's being

entitled to a

sum secured on

a mortgage of leaseholds;

V.

SETTLEMENT on MARRIAGE, of SUMS of

Money secured on MORTGAGE, and of a SUM
payable under the Trusts of a TERM of Years,
and which have been assigned to the Trustees by
DEED of EVEN DATE (a); of MONIES to be pro-
duced by the SALE of REAL ESTATE conveyed
to the Trustees by another DEED of EVEN DATE,
in TRUST for SALE (b); of an ANNUAL SUM
COVENANTED to be paid until the Money
raisable under the Term shall be paid; and of
the RENTS and PROFITS of the REAL ESTATE
until SALE. USUAL TRUSTS for Investment,
and for the Benefit of the Husband, Wife, and
Children. IF NO CHILDREN become ENTITLED,
the Husband's Funds revert to himself, the
Wife's to herself or her Appointees or Next
of Kin, exclusive of her Husband. USUAL
TRUSTEE CLAUSES.

THIS INDENTURE, made &c., BETWEEN A. B., of &c.,
[intended husband], of the first part; A. D., of &c., of the
second part; C. D., of &c., [intended wife], (one of the
daughters of the said A. D.), of the third part; and E. F.,
of &c., and G. H., of &c., [trustees], of the fourth part:
WHEREAS the said A. B. is entitled to a sum of £-
with interest for the same after the rate of -l.
per annum, from the

indenture bearing date the

day of

cent.

per last, secured by an day of, and made, or

(a) The reasons for assigning these monies to trustees by deed of even date, instead of by the settlement itself, are stated supra, p. 333, n. (a).

(b) The reasons for making this conveyance by deed of even date are stated supra, p. 342, note.

OF MONIES
OUTSTANDING

ON SECURITIES
AND TO ARISE
FROM THE SALE

OF

REAL ESTATE.

expressed to be made, between [parties], upon certain leasehold hereditaments, and a policy of insurance thereon against loss by fire in the said indenture particularly mentioned, and which sum of £— and interest, and the securities for the same, by an indenture bearing date the day of, and made, or expressed to be made, between [parties], became vested in the said A. B. (c); AND and to anoWHEREAS the said A. B. is also entitled to a sum of £with interest thereon at the rate of

annum from the day of last,

ther sum secured on a mort

holds;

. per cent. per gage of freesecured by an inday of

denture of release bearing date the
grounded on a lease for a year, and made, or expressed to
be made, between [parties], on certain freehold heredita-
ments in the said indenture of release particularly men-
tioned, and which sum of £ and interest, and the se-
curities for the same, by divers mesne assignments and acts
in the law, and ultimately by an indenture bearing date the
day of, and made, or expressed to be made, be-

tween [parties], became vested in the said A. B.; AND and to ano

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with

ther secured on a life interest in

personalty and a policy of as

surance;

WHEREAS the said A. B. is entitled to a sum of £ interest thereon at the rate of -l. per cent. per annum from the day of last, secured by an indenture bearing date the day of and made, or expressed to be made, between [parties], upon the life interest of the said in the dividends, interest, and annual produce of certain trust monies, stocks, funds, and securities therein mentioned, and also upon certain policies of assurance on the life of the said —, in the said indenture also particularly mentioned; AND WHEREAS the said A. B. is also and to a

(c) In marriage settlements, in which monies have been assigned to trustees by deeds of even date, upon trusts to be declared by the settlement, it is usual merely to state the debt and security, and that they became vested in the settlor, instead of setting forth the recitals at length; and such a statement is quite sufficient, because the only object is to declare the trusts of the fund, and with the history of it the settlement has nothing to do. If the security has been made directly to the settlor, it may be recited in the usual manner; but wherever there have been transfers, or other intermediate dealings, the course adopted in the text is the most convenient. See the preceding and two following recitals.

In marriage settlements, it

is not generally necessary to narrate the his tory of the

funds to be settled.

OF MONIES OUTSTANDING

entitled to one equal moiety or half part of the parsonage, in the county of

ON SECURITIES glebe, houses, lands, and tithes of

AND TO ARISE

FROM THE SALE
OF

moiety of a lease for lives

and of policies

of assurance on

the

for an estate granted by an indenture bearing date day of, and made, or expressed to be made, REAL ESTATE. between [parties], for the lives of X., Y., and Z., and the lives and life of the survivors and survivor of them, and is also entitled to one equal moiety or half part of three several the lives of the policies of assurance on the lives of the said X., Y., and Z., cestuis que vie; respectively, effected with the Office for the sum of £— each (d); AND WHEREAS the said C. D. is, under and by virtue of a deed-poll bearing even date with, but executed before these presents, and under the hand and seal of the said A. D., entitled to a sum of £

of the wife's

being entitled in reversion to

a sum raisable

under the trusts of a term;

ment for the

marriage;

ment to

securities to

the trustees,

upon the trusts subsequently declared;

thereby

appointed to her the said C. D., and to be paid to her, her executors, administrators, or assigns, on the death of the -of the agree survivor of the said A. D. and his father (e); AND WHEREAS a marriage has been agreed on, and is intended to be shortly had and solemnized, between the said A. B. and C. D.; —of the agree- AND WHEREAS, on the treaty for the said intended marsign the mort-riage, it was agreed that the said A. B. should assign the gage debts and said several sums of £- £, and £ and £, to which he is entitled as aforesaid, and the interest due and to grow due on the same respectively, to 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, expressed, and contained of and concerning the same respectively, and should also assign, convey, and assure the securities for the same sums respectively to the said E. F. and G. H., their heirs, executors, administrators, and assigns respectively, according to the nature thereof respectively, subject to the equity of redemption thereof now subsisting in the same respectively; AND vey and assign ON THE SAID TREATY it was also agreed that the said A. B. should convey, assign, and assure the said moiety of the said. parsonage, glebe, houses, lands, and tithes, and of the said

-and to con

the moiety of

the lease and

policies to the trustees, in

(d) See supra, n. (c).

(e) See supra, n. (c).

OF MONIES OUTSTANDING

ON SECURITIES

FROM THE SALE

OF

REAL ESTATE. trust to sell and

hold the pur

on the trusts to be subsequently declared;

wife's reversion

ary sum to the

trustees, upon quently declar

trusts to be sub

policies of assurance on the lives of the said X., Y., and Z. respectively, to the said E. F. and G. H., their executors, administrators, and assigns (f) respectively, upon trust to sell AND TO ARISE the same and to stand possessed of the money arising from such sale, and also of the rents and profits of the same premises until sold, upon and for the trusts, intents, and purposes, and with, under, and subject to the powers, provisoes, chase-monies agreements, and declarations hereinafter declared of and concerning the same; AND WHEREAS, upon the treaty for the said intended marriage, it was also agreed that the said to assign the C. D. should assign the said sum of £—, to which she is entitled as aforesaid, and all interest to grow due for the same 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 of and concerning the same; AND THAT the said A. D. should enter into such covenant with the said E. F. and G. H., their executors and administrators, for payment of an annual sum of £- for and in respect of the said sum of £- until the same shall be payable and paid (g) as is hereinafter contained, and that such annual sum should be held, paid, and applied by the said E. F. and G. H., their executors, administrators, and assigns, upon and for the trusts, intents, and purposes, and with,

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(f) When the estate is freehold or copyhold of inheritance, it will, of course, have been conveyed to the trustees and " their heirs," which will require a slight alteration in the trusts of this settlement; because, until the estate has been sold, and the money invested, the heirs of the last surviving trustee, instead of his executors or administrators, may be the trustees of the estate or of the purchase-money. (See supra, p. 344, n. (c) ). The trust, however, for investment of the purchase-money will be to invest in the names or name of the trustees, or the survivor, or the executors or administrators of the survivor, and then, the subsequent trusts will run in the usual way, referring throughout to the executors or administrators, and not to the heirs.

(g) Such an annual sum as this is often inaccurately termed interest, which it manifestly cannot be; as interest can only arise on a sum of money, either from the time it has been lent, or from the time at which it becomes payable.

ed;

and that her father should

covenant for the

payment of an annual sum by way of interest,

till the reversion

fall into posses

sion;

Variation re

quired if the es

tate to be sold had been freehold or copyhold inherit

ance.

Annuity agreed to be paid till a portion becomes payable, is not interest.

OF MONIES OUTSTANDING ON SECURITIES AND TO ARISE FROM THE SALE

OF

REAL ESTATE.

under, and subject to the powers, provisoes, agreements, and declarations hereinafter declared and contained of and concerning the same; AND WHEREAS, in pursuance of the said agreements, by an indenture bearing even date with, but executed before the execution of these presents, and made, or expressed to be made, between [parties], the said A. B., with the privity of the said C. D., (testified as therein mentioned), hath assigned unto the said E. F. and G. H., mortgage debts, their executors, administrators, and assigns, the said several mortgage sums or debts of £- —, £————, and £

—of the assign

ment to the trustees:

-by the husband of the

and the interest now due and henceforth to become due for the same respectively, To hold the same unto the said E. F. and G. H., their executors, administrators, and assigns, in trust for the said A. B., his executors, administrators, and assigns, in the meantime and until the said intended marriage shall be solemnized, and after the solemnization thereof, upon and for such trusts, intents, and purposes, and with, under, and subject to such powers, provisoes, agreements, and declarations, as are or shall be expressed or declared of and concerning the same, in and by an indenture therein mentioned to be already prepared and engrossed, and as bearing, or intended to bear, even date with the indenture now in recital, and as made, or intended to be made, between the several persons therein mentioned, being the same several persons as are parties to these presents, and meaning thereby this present indenture; AND by the said indenture now in recital, the said A. B. hath assigned, granted, released, conveyed, and assured the said hereditaments, interest, dividends, annual produce, policies of assurance, and all other the securities for the said principal monies and interest unto the said E. F. and G. H., their heirs, executors, administrators, and assigns respectively, according to the nature thereof respectively, subject to the equity of redemption now subsisting in the same premises respectively; AND by the said indenture now in recital, the wife, of her re- said C. D., with the privity of the said A. B., (testified as therein mentioned), hath assigned unto the said E. F. and G. H., their executors, administrators, and assigns, the said sum of £- to which the said C. D. is entitled as afore

-and securi

ties;

--and by the

versionary sum;

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