SECURE POR TION. BY DEMISE TO the end of six calendar months next after his the said testator's decease, by demise, assignment, mortgage, sale, or other disposition of the said manors, hereditaments, and premises, or of any of them, or of any part or parts thereof, for all or any part of the said term of 500 years, or by and out of the rents, issues, and profits thereof, or by all and every or any ways and means thereinbefore mentioned, or by any other ways and means, levy and raise the sum of £2,000, together with interest for the same after the rate of £4 per cent. per annum from the time of his decease, and pay the same to his son the said G. F. for his own use and benefit; and should, by, with, and out of the rents, issues, and profits of the said manors, hereditaments, and premises, levy and raise, and pay to the said G. F., or his assigns, during his life, the clear yearly sum of £500, to commence from the time of his the said testator's decease, and to the said H. F. and his assigns during his life, a like yearly sum of £500, to commence from the time of his the said testator's decease, and in case his said sons G. F. and H. F., or either of them, should at any time or times, within the space of a period of five years after they should respectively become entitled to the said respective yearly sums of £500 and £500, determine to accept a gross sum or gross sums of money, after the rate of ten years' purchase for all or any part or parts of the said respective yearly sums of £500 and £500, and should signify such his, her, or their option, by writing under his or their respective hand or hands, to the said A. B. and C. D., or the survivor of them, or the executors or administrators of such survivor, then and in every such case they the said A. B. and C. D., or the survivor of them, or the executors or administrators of such survivor, should, by all and every or any of the ways and means thereinbefore mentioned, levy and raise such gross sum or sums of money, after the rate aforesaid, and pay the same to the said G. F. and H. F., or such one of them as should make such option or options as thereinbefore was mentioned: AND WHEREAS the said E. F., deceased, died on the day of, without having revoked or altered his said will: AND WHEREAS, by an -of death of testator. -of recovery indenture of release, bearing date the BY DEMISE TO TION. deed by the eldest son to bar his entail. day of grounded on a lease for a year, and made, or expressed to be made, between [parties] for the considerations therein mentioned, the said E. F., party hereto, did grant and release unto the said M. N. and his heirs, the said manors, messuages, lands, tenements, and hereditaments, devised by the said will of the said E. F. deceased, to the uses, and in manner hereinbefore mentioned, with their rights, members, and appurtenances, to hold the same unto and to the use of the said M. N., his heirs and assigns, to the intent that the said M. N. might become perfect tenant of the same premises, in order that one or more common recovery or common recoveries might be suffered thereof, in which the said E. F., party hereto, was to be vouchee, and which common recovery or common recoveries, it was thereby declared, should enure to the use of the said E. F., party hereto, his heirs and assigns for ever: AND WHEREAS, in of recovery accordingly. pursuance of the said indenture of release, a common recovery, in which the said E. F., party hereto, was vouchee, was duly suffered in term in the his late Majesty King, before his Majesty's Justices of the Court of Common Pleas at Westminster: AND WHEREAS, on the day of the said E. F., in exercise of the power enabling him in that behalf, under year of of the legatee having signified his option to take the por tion. paid. or by virtue of the said will of the said E. F. deceased, signified to the said A. B. and C. D. his option to accept the sum of £5,000 as a gross sum of money, after the rate of ten years' purchase, for the whole of the said yearly sum of £500 to him by the said will bequeathed, or directed to be paid as aforesaid: AND WHEREAS the said legacy or sum of of the legacy £2,000, given and bequeathed to the said G. F. by the said remaining unwill, still remains due and owing to the said G. F., but all interest for the same has been paid up to the day of the date of these presents: AND WHEREAS all arrears of the said yearly sum of £500, given or bequeathed to the said G. F. by the said will, have been paid up to the day on which the same yearly sum determined in consequence of the option, so as aforesaid signified by the said G. F., to accept a gross sum in lieu of the said yearly sum: AND WHEREAS the principal of the portion sum of £5,000, to which the said G. F. became entitled by remaining due. of arrears of annuity having been paid up to the day of its determin ation. SECURE POR TION. —of agreement for mortgage in discharge of the legacy and portion. BY DEMISE TO having signified such option as aforesaid, is now due and owing to the said G. F., but all interest for the same hath been paid up to the day of the date of these presents (b): AND WHEREAS it has been agreed, that, in satisfaction and discharge of the said legacy or sums of £2,000 and £5,000, a mortgage for the sum of £7,000, with interest for the same in the meantime, after the rate hereinafter mentioned, shall be made to the said G. F. under the trusts of the said term of 500 years, of the said messuages, lands, and other hereditaments, hereinafter particularly mentioned, and intended to be hereby demised with their appurtenances, and that the said E. F., party hereto, shall enter into the covenants hereinafter contained for payment of the said sum of £7,000 and the interest thereof, and into the other covenants hereinafter contained on the part of him the said Consideration. E. F.: NOW THIS INDENTURE WITNESSETH, that, in pursuance of the said agreements, and in full satisfaction and discharge of the said legacies or sums of £2,000 and £5,000, (of and from which said legacies or sums of £2,000 and £5,000, and the interest thereof respectively, the said G. H. doth acquit, release, and discharge the said A. B. and C. D., and each of them, their and each of their heirs, executors, administrators, and assigns for ever by these presents), and in consideration of 10s. to the said A. B. and C. D. paid by the said G. F., at or before the sealing and delivery of these presents, (the receipt whereof is hereby acknowledged), they the said A. B. and C. D., with the privity and consent of the said E. F., party hereto, (testified by his being a party to and executing these pre Witnesseth. Demise. (b) No reference is made in the deed to the legacy duty, but both the trustees and the owner of the land ought to see that before the mortgage is made the legatee has satisfied the stamp-office in respect of duty, and that a properly stamped receipt has been given. For, by the stat. 45 Geo. 3, c. 28, s. 5, the duties on legacies payable out of real estate are to be paid by the owner of the estate and retained out of the legacy. And where there is more than one owner in possession, it seems that they are all liable. (Attorney-General v. Jackson, 2 Cro. & Jer. 101). It must, however, be remembered, that a direction that the legacy shall be paid without deduction and other similar expressions would throw the duty on the land. (1 Wm's Executors, Pt. 3, Bk. 5, Ch. III; Sanders v. Kiddell, 7 Sim. 356). SECURE POR TION. sents), have, and each of them hath bargained, sold (c), BY DEMISE TO and demised, and by these presents do, and each of them doth bargain, sell, and demise, and the said E. F., party hereto, hath granted, bargained, sold, demised, and confirmed, and by these presents doth grant, bargain, sell, demise, and confirm unto the said G. F., his executors, administrators and assigns: ALL THAT &c., [parcels], Parcels. being part of the hereditaments by the said will of the said E. F. deceased, devised or limited to the said A. B. and C. D., their executors, administrators, and assigns, for the said term of 500 years, as hereinbefore is mentioned, together with, &c., [general words, omitting the "all the estate" clause] (d): TO HAVE AND TO HOLD the said mes- Habendum. suages or tenements, pieces or parcels of lands, and hereditaments, and all and singular other the premises hereby demised, or expressed and intended so to be, unto the said G. F., his executors, administrators, and assigns, for the term of 450 years, to commence from the day next before the day of the date of these presents, and thenceforth next ensuing, and fully to be complete and ended without impeachment of waste, subject nevertheless to the proviso for cesser hereinafter contained, (that is to say): PROVIDED ALWAYS, and it is hereby agreed by and between the parties to these presents, and the true intent and meaning of them, and of these presents nevertheless is, that if the said A. B. and C. D., their executors, administrators, or assigns, or the said E. F., party hereto, his heirs, executors, administrators, or assigns, shall and do pay or cause to be paid to the said G. F., his executors, administrators, or assigns, the sum of £7,000, and the sum of £350, as and for one year's interest for the same, at the rate of £5 for £100 for Proviso for cesser of term on payment of mortgagemoney and interest. (c) In this Precedent, the words, "bargain and sell" are retained, and Bargain and a nominal consideration expressed to give them effect. For as the deed sale. creates only a term of years, it will, without enrolment, operate as a bargain and sale. (See supra, p. 196, n. (i); 2 Sanders on Uses, 43, title BARGAIN and SALE). (d) With reference to the omission of the clause of "All the estate," &c.; see, supra, p. 542, n. (e). BY DEMISE TO SECURE POR TION. Covenants. Proviso for quiet enjoyment until default. a year, making together the sum of £7,350, in the parts, |