« PreviousContinue »
OF REAL ESTATE, LEASES, MINES, AND MACHINERY, AND SHARES IN COMPANIES.
term upon trusts;
—for working the mines;
—*nd to correspond with the trusts of the freeholds.
Power to the trustees in certain events to sell the stock and machinery.
before assigned, or expressed and intended so to be, unto the said E. F. and G. H., their executors, administrators, and assigns, nevertheless upon the trusts and for the intents and purposes hereinafter expressed and declared or referred to, of and concerning the same, that is to say, Upon Trust, during the joint lives of the said A. B. and C. D., when and as occasion shall require, to cause the same to be repaired and replaced, with power to defray all expenses attendant thereupon out of the produce of the working of the said mines, or other the rents, issues, and profits of the said hereditaments and premises comprised in the said term of seventy years, determinable as aforesaid, and upon trust during the same period to use and employ the said premises lastly hereinbefore assigned, or expressed and intended so to be, or permit the same to be used and employed in and for the purpose of working and managing the said mines; And Upon Further Trust, from and after the decease of either of them the said A. B. and C. D., to stand possessed of the same premises respectively, upon and for such trusts, intents, and purposes, and with, under, and subject to such powers, provisoes, agreements, and declarations, as shall and may as nearly correspond with and be similar to the uses, trusts, intents, purposes, powers, provisoes, agreements, and declarations, hereinbefore limited, declared, and contained of and concerning the said hereditaments hereinbefore granted and released, or expressed and intended so to be, as the different natures and qualities of the same, and the rules of law and equity, will permit, yet so that the same shall not, for the effect or purpose of transmission, vest absolutely in any son of the said A. B. by the said C. D. who shall not attain the age of twenty-one years (/): ProVided Always, and it is hereby agreed and declared between and by the parties to these presents, that, notwithstanding anything hereinbefore contained, it shall be lawful for the said E. F. and G. H., and the survivor of them, his executors or administrators, in case the power of granting mining leases hereinbefore limited shall be exercised, to sell
(/) See the form, supra, p. 543, and the note (o).
and dispose of, either by public auction or private contract, °r Real Es.
or Real Es- and at any time or times during his life, with the consent
TATf? LEASES • • • .
Mines, And' m writing of the said E. F. and G. H., or the survivor of Machinery, them, or the executors or administrators of such survivor,
Companies, by any deed or deeds, or instrument or instruments in writing, to be by him sealed and delivered in the presence of, and to be attested by, two or more credible witnesses, (but without prejudice to any previous exercise of any of the powers hereinbefore contained), to alter, vary, revoke, determine, or make void, all and every or any of the uses, estates, trusts, and limitations hereinbefore limited and declared of and concerning the said hereditaments and premises hereinbefore granted and released, or expressed and intended so to be, or any of them, or any part or parts thereof, and all and every or any of the trusts hereinbefore declared of and concerning all or any of the copyhold and leasehold hereditaments, shares, stock, personal chattels, and premises hereinbefore covenanted to be surrendered and assigned, or expressed and intended so to be, respectively, and by the same or any other deed or deeds, or instrument or instruments in writing, to declare any new or other use or uses, estate or estates, trust or trusts, power or powers, of and concerning the hereditaments, shares, stock, personal chattels, and premises, the uses or trusts whereof respectively shall be so altered, varied, revoked, determined, or made void as aforesaid, anything hereinbefore contained to the contrary thereof in anywise notwithstanding. In Witness &c.
STRICT SETTLEMENT (a) in favour of the Strict
THIS INDENTURE, made &c, Between A. B. of Parties.
(a) What is meant by the term " strict settlement," does not seem to "Strict settlebe very accurately denned in the text books. The expression, indeed, ment"—meanseems to be applied to several varieties of settlement; but, perhaps, the ^e tcrm essential notion of a strict settlement is, that it should contain a limitation to, at least, one person for life, with remainder to trustees during
esquire, the eldest son, and heir apparent of the said A- B., of the second part; the said C. B., E. F., of &c, and
How instructions for a strict settlement are to be carried into effect.
his life, to preserve contingent remainders, with remainder to his first and other sons successively in tail male or in tail, with a remainder or remainders over, disposing of the reversion expectant on such prior estates. (See Precedent XVI., supra, pp. 501, 505). Such a settlement generally contains a limitation of a jointure to the wife of the tenant for life, and of powers, and a term for securing it, and of a term for raising portions for the younger children of the settlor, as in Precedent XVI., supra. It usually contains, too, a variety of powers for managing and dealing with the estate, and sometimes for creating annual and gross charges; but none of these limitations or powers seem essential to a strict settlement. The Precedent in the text contains a complex series cf limitations to the settlor and his issue, male and female, and answers, perhaps, completely to the popular notion of a strict settlement. Bat all the limitations, except those in favour of the settlor and his eldest son, and the issue male of that son, might be taken away, without destroying the character of the settlement .
If, however, instructions are given to settle an estate in strict settlement on certain persons and their issue, the conveyancer should carry his instructions into effect, by limiting a life estate to the first person named, with remainder to his first and other sons in tail male, remainder to the second person named for his life, remainder to his first and other sons in tail male, and so on through the whole of the persons named, interposing, of course, proper limitations to the trustees after each estate for life to preserve contingent remainders. Then will follow a series of limitations in tail general to the first and other sons of the successive tenants for life; and afterwards, a series of limitations to the first and other daughters of the successive tenants for life in tail male and in tail general, or in tail general only, with such remainders over as may be deemed advisable, including an ultimate remainder in fee. This species of settlement probably proceeds or originated from the idea that there is or may be a title in the family, which is descendible in the male line, and which it is desirable should be accompanied by the property, so long as it endures. But if there should be a title descendible in the female as well as in the male line, it is obvious that the arrangement of the limitations must be different; for the whole issue of every prior tenant for life must be exhausted before any subsequent tenant for life, and his issue, can be permitted to take.
The settlement in the text was not that of a titled family; but still the preference is given to the male line, with certain variations, occasioned by the situation of the parties.
Jointures and portions are from their nature limited only in pursuance of express instructions; but when instructions for a strict settlement are