Page images
PDF
EPUB

1245. POWER to grant LEASES.

AND I HEREBY empower my trustees or trustee, for the time being, to demise at rack rent for any term not exceeding ten years in possession any part of my freehold hereditaments, which, for the time being, shall remain unsold under the TRUSTS aforesaid.

1246. TRUSTEES may permit INVESTMENTS to remain
UNCONVERTED.

AND I DECLARE that it shall be lawful for the trustees or trustee for the time being, of this my will at their or his discretion, and without incurring any responsibility thereby to permit so much of my residuary personal estate as shall, at my decease, be constituted of leasehold interest (whether for years absolutely or determinable on a life or lives,) or other determinable property, or be invested in or upon any stocks, funds, securities, shares in societies, companies or institutions, or other pecuniary investments whatsoever, whether real or personal, permanent or determinable, to remain wholly or in part so invested, and to permit so much of my residuary personal estate as shall not be so constituted or invested, or any part thereof to remain unconverted.

1247. POWER to change SECURITIES.

I EMPOWER the said trustees or trustee, for the time being, at any time, or from time to time, to sell and dispose of any stocks, funds, or securities, whereon any of my TRUST moneys, for the time being, shall or may happen to be invested, and to invest the money to arise from such sale in any other stocks or funds, or other government securities, or on mortgage of freehold estates, and to vary and transfer the same as occasion shall require or as shall be thought fit.

1248. TRUSTEES' POWERS in winding up the AFFAIRS.

I DIRECT that the said trustees or trustee for the time being, shall have power, at their or his discretion, to settle my accounts and wind up my affairs, and in so doing to make such arrangement relative to debts or demands due or claimed to be due to or from my estate, as they or he shall judge expedient, with liberty to accept compositions or securities from, and grant indulgencies to debtors, and wholly to release property mortgaged of pledged on part payment of the money secured, and to admit the claims of creditors on evidence not strictly legal, and to pay demands which have become barred by any statutory or other limitation, and also to submit questions and accounts to arbitration.

1249. POWER to appoint NEW TRUSTEES.

I DECLARE that if my said trustees, or either of them, or any person or persons to be appointed under this clause, shall die, or be or become unwilling or incompetent to act in the execution of the TRUSTS of my will, it shall be lawful for my said wife during her widowhood and after her death or marriage for the competent trustees or trustee for the time being, (if any) whether retiring from the office of trustee or not, (or if none) for the executors or administrators of the last surviving trustee, to substitute and appoint by any writing under her, his, or their hand or hands, any fit person or persons in whom alone, or, as the case may be jointly, with the surviving or continuing trustee, my TRUST estate shall be vested. And the trustee or trustees for the time being of my will, shall be competent to exercise the trusts, powers, and discretions given to the trustees herein named, and on every such appointment the necessary assurances shall be executed for vesting my TRUST estate in the new and old trustees, or in the new trustees solely as the case may be.

1250. TRUSTEES' DISBURSEMENTS to be PAID.

AND I DIRECT that my trustees may deduct and mutually allow each to the other all his disbursements and expenses incident to the execution of my will.

1251. YEARLY PRODUCE to be deemed the INCOME.

I DECLARE that the actual yearly produce of my residuary estate, whether consisting of investments to be made by the said trustees or trustee for the time being as aforesaid, or of investments of whatever nature to be continued by them or him as aforesaid, shall be deemed the income of such residuary estate for the purposes of my will.

1252. WIFE'S DOWER.

I DECLARE that the provision hereby made for my said wife, shall be accepted by her in full satisfaction of her claim to dower out of any real estate of which I have been or now am or shall be seized.

1253. НотCHPOT CLAUSE.

PROVIDED ALWAYS, that no child taking any part of the said trust premises under any appointment in pursuance of the power lastly herein before contained, shall, in default of appointment to the contrary, have or be entitled to any share of that part of which no such appointment shall have been made of the said trust premises, without bringing his or her appointed share into hotchpot, and accounting for the same accordingly.

1254. SUMS advanced to CHILDREN, to be deducted from their LEGACIES.

PROVIDED ALWAYS, and I hereby declare, that, if I shall in my lifetime advance or give [or covenant to advance or give] to or with any of my said children, any sum or sums of money on his or her marriage, or otherwise for his or her advancement, preferment, or benefit, then, and in every such case, unless I shall in writing direct the contrary, such sum or sums shall be deemed and taken in or toward satisfaction of the provision intended to be hereby made for such child, [or of the legacy herein before given to such child,] and shall be brought into hotchpot, and accounted for accordingly.

1255. ADVANCEMENT CLAUSE.

PROVIDED ALWAYS, and I hereby declare, that it shall be lawful for the said [trustees] and the [survivors and] survivor of them, and the executors or administrators of such survivor, after the death of my said wife, or in her lifetime with her consent in writing to raise any part or parts, not exceeding in the whole one-half of the then expectant or presumptive or vested share of any child under the trusts herein before declared, and to pay or apply the same for his or her preferment, advancement, or benefit, as the said trustees or trustee shall think fit.

1256. MAINTENANCE CLAUSE.

AND I HEREBY DECLARE, that the said [trustees,] and the [survivors and] survivor of them, and the executors or administrators of such survivor, shall, after the death of my said wife, pay or apply the whole, or such part as they or he shall think fit, of the interest, dividends, and income of the share to which my child shall, for the time being, be entitled in expectancy under the trusts herein before declared, for or toward his or her maintenance or education; And may either themselves or himself so pay or apply the same, or may pay the same to the guardian or guardians of such child for the purpose aforesaid, without seeing to the application thereof.

1257. CLAUSE to be inserted in WILLS, as to TRUST ESTATES and ESTATES held in MORTGAGE.

I DEVISE ALL ESTATES, real and personal, of which I am seized or possessed, as mortgagee or trustee, unto and to the use of the said [executors,] their heirs, executors, administrators and assigns respectively, subject to the equities and trusts affecting the same respectively, and so far as I am beneficially interested as mortgagee, to be disposed of as part of my personal estate for the purposes of my will.

REVISED STATUTES, CAP. XVI., p. 93.

(Certain parts of.)

1258. AN ACT respecting the SURROGATE COURTS.

Surrogate courts not to be deemed new courts; officers and suits, &c., to continue.

A surrogate

court estab

lished in each

county with judge, regis

trar, &c.

Her Majesty, by and with the advice and consent of the legislative council and assembly of Canada, enacts as follows:

(1.) [The substance of this section is sufficiently shewn for our purpose by the margin.]

(2.) In and for each county in Upper Canada there shall be a court of law and record to be called "the Surrogate Court" of each respective county, over each of which courts one judge shall preside; and there shall also be a registrar and such officers as may be necessary for the exercise of the jurisdiction to the said courts belonging.

JURISDICTION AND POWERS.

by the surrogate courts.

(8.) All jurisdiction and authority voluntary and Testamentary contentious in relation to matters and causes testa- jurisdiction to mentary and in relation to the granting or revoking be exercised probate of wills and letters of administration of the effects of deceased persons having estate or effects in Upper Canada, and all matters arising out of or connected with the grant or revocation of probate or administration, shall continue to be exercised in the name of Her Majesty in the several surrogate courts in Upper Canada, and each surrogate court shall hold its Sittings of sittings in the county town of each respective county, courts.

court.

(9.) The said surrogate courts respectively shall Powers and have full power, jurisdiction and authority (1.) To issue jurisdictions process and hold cognizance of all matters relative to of surrogate the granting of probates and committing letters of administration, and to grant probate of wills, and to commit letters of administration of the goods of persons dying intestate having estate goods, rights or credits in Upper Canada, and to revoke such probate of wills and letters of administration; (2.) To hear and determine all questions, causes and suits in relation to the matters aforesaid and to all matters testamentary; and (3.) subject to the provisions herein contained, such courts respectively shall also have the same powers, and the To have the grants and orders of the said courts shall have the same powers same effect throughout all Upper Canada, and in rela- as the present tion to the personal estate of deceased persons as the court of proformer court of probate for Upper Canada, and its tain cases. grants and orders respectively had in relation to those matters and to causes testamentary within its jurisdiction, and to those effects of deceased persons dying possessed of goods and chattels over twenty dollars in value in two or more counties in Upper Canada, and all duties which by statute or otherwise were imposed on or exercised by the said court of probate, or the judge thereof in respect of probates, administrations, and matters and causes testamentary, and the appointment of guardians and otherwise, shall be performed by the said several surrogate courts and by judges thereof within their respective jurisdictions; but no suits for legacies or suits for the distribution of residues shall be entertained by any of the said surrogate

courts.

bate in cer

(83.) No nuncupative will made after this act comes Nuncupative.

« EelmineJätka »