LEASES.

234. Without a licence, a copyholder cannot grant a lease for more than one year; but the usual way is to grant such lease for one year, and so on from year to year, for the specified number of years, provided the same can be done without fine or forfeiture; and in form No.335, Appendix, will be found the words usually adopted in such leases.

235. When it is deemed advisable to obtain a licence, the terms on which it is granted are previously arranged with the lord or steward; it is entered on the court rolls, and a copy on parchment made by the steward, in form No. 533; the lease will then be as 336. Such lease, it should be remarked, is a common law interest, and subject to be taken in execution.

Settlements.

236. The points to be attended to by the solicitor will be the carefully noting down the instructions as to the particular mode in which the parties wish the property settled. He will then peruse the writings, or such of them as will shew how the legal and equitable ownership stands, and in the next place prepare the settlement. A form of surrender in the most usual form is given in Appendix 337; but in general settlements being drawn by counsel, it is deemed needless to give other forms.

237. It should, however, be observed, that the practice recommended in other parts of this work relative to the obtaining a power of attorney to surrender, would be frequently found attended with more convenience than resting satisfied with the mere

covenant from the intended husband, when the surrender is to be passed to trustees, as frequently the having such power will prevent the necessity of proceedings to enforce performance of the covenant,

238. The draft, when completed and settled, will be engrossed on the proper stamps and executed; and subsequently, if not at the same time, any surrender which may be requisite under the settlement, must be prepared and passed in the usual way, and admission taken by the trustees.

239. As it may be sometimes requisite to discharge the estate from existing entails, the form of Assurance substituted by the Fines and Recoveries Abolition Act, is given in Appendix, No. 294.

240. Attention to the following points will be useful in taking instructions for marriage settlements: the taking correctly the parties' names and descriptions; the particulars of the property to be settled, and by whom; in whom the legal estate now vested; whether subject to incumbrances; whether any pinmoney is to be secured to wife; whether powers of sale and exchange are to be inserted; and as to the provisions for children; the wishes of the parties should of course be ascertained with regard to the continuance in the male branch of the family, or otherwise; and it should be suggested when long trusts are created, that it would be of advantage to insert a power to insure the lives of the trustees, so as to provide for fresh admissions by a small annual payment, instead of a large payment at death of the trustees.

Assignments for benefit of Creditors.

241. It is too often that a very negligent mode is adopted in these deeds, as respects copyhold property. A covenant to surrender is generally inserted, which with a troublesome debtor is of very little use.

242. The best way is to convey the freehold, leasehold, and personalty, and insert a power of attorney to sell and convey the copyhold, and to pass a sur

render and execute any deed of covenant for title or otherwise as may be requisite.

243. A precedent in the Appendix, 338, adopts this plan, and by providing in the conditions of sale for the acceptance by the purchaser of the surrender under the power, (Appendix 315,) no difficulty will be experienced on the sale.

244. The instructions, drawing, and engrossing deeds, and obtaining the execution, will of course all follow in the usual manner, except that the deed must, under the Bankrupt Act, be executed by the trustees within fifteen days, and attested by an attorney, and must be advertized in the Gazette and two other papers. See Bankruptcy Act, 6 G. 4. The attention to these points in execution and advertizing will limit the time within which a fiat could be obtained under the deed to six months; and it would be of service to obtain an affidavit by the insolvent, shewing all his debts on which a fiat could be supported, as such affidavit might satisfy a willing purchaser, and enable the completion of the sale before the six months, within which period a fiat might be obtained under the Bankruptcy Act.

Insolvency and Discharge under Act.

245. By 7 G. 4, c. 57, s. 11, it is provided, that on subscribing petition for discharge under the act, an assignment of all real and personal estate shall be made to the provisional assignee; and by s. 13, it is provided, that the assignment shall operate as an act of bankruptcy for two calendar months, and be avoided by fiat within that period, but shall be valid at expiration of that period, and not subsequently operate as an act of bankruptcy. By s. 16, the provisional assignee is entitled to take possession, and on order of the court, to sell either real or personal property. By s. 19, the court is authorized to appoint any creditor or creditors, assignee or assignees, at any time after petition being filed, and that provisional assignee shall then convey to such assignees. (The conveyance

is in a printed form, and generally prepared at the office of the court). The original assignment to provisional assignee, and counterpart of conveyance by him are to be filed; and an office copy, sealed by the court, is to be received as evidence. By s. 20, the assignees are to make sale of the insolvent's estate by auction within six months, or such other time as court may direct, and in such manner, and at such place as may, thirty days before sale, be approved in writing by major part in value of creditors meeting, on notice published fourteen days previously in London Gazette; and also if prisoner resided within bills of mortality, in some London daily newspaper; and in case he resided elsewhere, then in some newspaper generally circulated in or near the place where he resided. And where the prisoner is entitled to copyhold or customary estate, it is provided, that the conveyance from the provisional assignee shall be entered on the court rolls; and thereupon it shall be lawful for the assignee or assignees to surrender or convey to any purchaser or purchasers from such assignee or assignees as the court may direct; and the rents and profits shall in the mean time be received by the assignees for benefit of the creditors, without prejudice to the lord of the manor. Under this act the steps to be taken on sale of the insolvent's copyhold property, will be the obtaining the usual conveyance from the provisional assignee, with a counterpart. The filing the counterpart; the calling a meeting of the creditors for the purpose of approving of the sale, and advertizing such notice fourteen days before the meeting in the Gazette and newspapers, of which copies must be obtained; the resolution of the meeting,- the application to the court, and order thereupon,—the auction conditions and auction, the abstract and title, and the conveyance to the purchaser, which might be by surrender from the assignees under sec. 20, or by a surrender from them and the insolvent and his wife, which would be more satisfactory to the purchaser. Of course the

assignees will not enter into any covenants, and it will rest with the purchaser to determine whether he will deem it advisable to have covenants from the insolvent, assuming that the conditions have not guarded against the purchaser requiring the concurrence of the insolvent. It should seem very doubtful whether, even without any stipulations on the sale, the commissioners would compel the insolvent to enter into covenants to the purchaser, or at least whether he would not be ordered to bear the expence of the application and order. See form of surrender, 289.

BANKRUPTCY.

246. It was formerly requisite to except the copyholds of the bankrupt in the bargain and sale from the commissioners to the assignees; but now no bargain and sale is made, and the appointment vests all the bankrupt's property, except the copyholds, in the assignees.

247. On sales by assignees, it would be prudent to stipulate that the expence of enrolling the proceedings, and of the copies, should be paid by the purchaser; or it would perhaps be more equitable to stipulate that each party should pay half the expence.

248. The form of conveyance in Appendix 302, will suggest the other points requiring attention on the part of the assignees.

249. When premises in mortgage, the mortgagee will be entitled to notice as in other cases, and will be made a party to the conveyance. The opinion and outline conveyance in Appendix 305, will shew the mode of conveying property mortgaged for more: than its value.