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Restrict the Power of Entailing and Settling Land and other A.D. 1877.

Property.

Extent of
Act.

THEREAS it is expedient to limit the power of creating

successive interests in land and other property, and to extend the testamentary and other powers of limited owners of property :

Be it therefore enacted by the Queen's most Excellent Majesty, 5 by and with the advice and consent of the Lords Spiritual and

Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:

1. This Act may be cited as the Property Law Amendment Act, Short title. 1877. 10 2. This Act shall not extend to Scotland.

3. This Act shall come into operation on the first day of January Commenceone thousand eight hundred and seventy-eight, which date is in this ment of Act. Act referred to as the commencement of this Act. 4. In this Act

Definitions, 15 The term “ Trustees and Mortgagees Act, 1860,” means an Act

of the session holden in the twenty-third and twenty-fourth
years of Her present Majesty, chapter one hundred aud
forty-five, intituled “ An Act to give to trustees, mortgagees,

“ and others certain powers now commonly inserted in 20 “ settlements, mortgages, and wills :"

The term “ Settled Estates Acts” means an Act of the session

holden in the nineteenth and twentieth years of Her present
Majesty, chapter one hundred and twenty, intituled, “An

“ Act to facilitate leases and sales of settled estates," and 25

any Act amending the same :
The terms “settlement” and “settled estates ” have respec-

tively the same meaning as in the Settled Estates Acts :
The term “ court” means the court, having jurisdiction under

the Settled Estates Acts or this Act.

Abolition of estates tail.

5

settle pro

sons.

A.D. 1877. 5. After the commencement of this Act it shall not be lawful to

confer a legal or equitable estate tail in any hereditament.

Expressions which but for this Act would have conferred an estate tail, shall confer an estate in fee simple or other the largest estate

which the person conferring the estate is capable of conferring. Limitation 6. After the commencement of this Act it shall not be lawful of power to

for any person or body corporate, by any deed, will, or other instruperty on ment, to dispose of property, real or personal, either directly or unborn per- indirectly, or by way of use or trust, or by way of appointment in

exercise of any power of appointment, or otherwise, to or for the 10
benefit of any person not actually born at the date of the instrument
of disposition or appointment, or, if the instrument be testamentary,
at the death of the testator, save only in the case where a prior
power of appointment over the whole of the property is at the
same time given to the parent of such unborn person.

15
The power of appointment given to any such parent may, at the
option of the person giving the power, be exerciseable either by
deed or by will, and if by deed, either jointly with the other parent
or not, or by any one or more of those modes exclusively. And
any such power of appointment may be either general or in favour of 20
all or any of the children of such parent, exclusively or other-
wise, in such manner as the parent or parents exercising the
power appoint.

But the consent or concurrence of any person, except such other parent, shall not be required to or in any such power of appointment, 25 and no such power shall be capable of being exercised in favour of any child not actually born at the date of the exercise, or be capable of being exercised by deed in favour of an infant except in

consideration of the infant's marriage. Trustees of 7. Where by any settlement made after the commencement of 30 real property this Act any hereditament is settled otherwise than upon any power of

public or charitable trust, and is not subject to a power of sale, the sale. See

settlement shall be construed as conferring a power of sale over the 23 & 24 Vict. c. 145.

hereditament on the trustees or trustee in whom the legal estate in ss. 1-10.

the hereditament is for the time being vested, or if there be no such 35
trustees or trustee, then on the person for the time being entitled in
possession to the receipt of the rents and profits of the heredita-
ment, and all the provisions contained in Part I. of the Trustees and
Mortgagees Act, 1860, as modified by this Act, shall apply to every
such
power
of sale.

40 Application 8. The proceeds of sale of any settled estate may be invested in of proceeds of sale of

any of the investments in which cash under the control of the court

estates.

settled

See

is for the time being authorised to be invested, and may be kept so

A.D. 1877. invested notwithstanding any direction to apply the same in the settled purchase of land.

Any such proceeds may be applied to any of the purposes
5 following; that is to say,
(1.) The erection of new buildings, including labourers cottages,

or the permanent improvement of existing buildings, inclu-
ding labourers cottages, on any other hereditament, subject

to the same uses or trusts as the hereditament sold:
10
(2.) The permanent improvement by the construction of roads,

drains, or otherwise of any hereditament, subject to the

same uses or trusts as the hereditament sold. 9. The person or persons having a power of sale over any settled Power of estate shall have power of granting leases of the estate, subject to

leasing 15 the conditions on which leases authorised by the Settled Estates Acts estates. may be granted, and all such powers shall have effect as if they had 19 & 20 Vict.

c. 120. ss. 2, been vested in that person or those persons by order of the court. 10, 32.

Provided as follows:

(1.) This section shall not apply to any settlement made before 20

the commencement of this Act :
(2.) This section shall not vest a power of leasing in any person

where the same power is by the settlement or by virtue of
section thirty-two of the Settled Estates Act, 1856, vested

in any other person or persons. 25

10. Where by any instrument made after the commencement of Conveyance this Act, any hereditament is conveyed to any person without any without words of limitation, the conveyance shall be construed to pass the words of

limitation fee simple or other the whole estate or interest which the person to be con

executing the conveyance had power to dispose of in that heredita- strued to 30 ment, unless a contrary intention appears by the instrument of pass the fee. conveyance.

11. Nothing in this Act shall invalidate the provisions of any Saving as to instrument made before the passing of this Act, whereby property settlements.

is required to be settled in a manner inconsistent with the provisions 35 of this Act, and notwithstanding anything in this Act, any such

property may be settled in accordance with those requirements.

of real estate

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Raise a sum by Exchequer Bills or Exchequer Bonds for the A.D. 1877.

service of the year ending on the thirty-first day of March
one thousand eight hundred and seventy-seven.

Most Gracious Sovereign, WE,

E, Your Majesty's most dutiful and loyal subjects, the Commons

of the United Kingdom of Great Britain and Ireland, in Parliament assembled, towards raising the supply which we have 5 cheerfully granted to Your Majesty in this session of Parliament,

have resolved to grant unto Your Majesty the sum herein-after mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted ; and be it enacted by the Queen's most Excellent

Majesty, by and with the advice and consent of the Lords Spiritual 10 and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:

Preliminary. 1. This Act may be cited as the Exchequer Bills and Bonds Act, Short title. 1877. 15

Exchequer Bills and Bonds. 2. Towards raising the supply granted to Her Majesty for Treasury the service of the year ending on the thirty-first day of March may raise

700,0001. one thousand eight hundred and seventy-seven, it shall be lawful

by Exchefor the Commissioners of Her Majesty's Treasury, at any time or quer bills or

bonds. 20 times not later than the said thirty-first day of March, to raise any

sum or sums, not exceeding in the whole seven hundred thousand pounds, by the issue of Exchequer bills or Exchequer bonds in 29 & 30 Vict. manner provided by the Exchequer Bill and Bonds Act, 1866, so,

however, that no Exchequer bond shall be made out for any sum 25 less than one hundred pounds.

Every Exchequer bond issued in pursuance of this Act shall provide for the paying off of such bond at par at any period not exceeding three years nor less than twelve months from the date of such bond.

c. 25.

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