the said C. D., his heirs and assigns, according to the PRECEDENT VI. form and effect of the within-written indenture, in the presence of us (g) MEMORANDUM OF BY TENANTS IN title. CONVEYANCE by TENANTS IN COMMON, One being PRECEDENT VII. a MARRIED WOMAN, her husband consenting. THIS INDENTURE, made, &c., between A. B., of, COMMON. &c., C. D., of, &c., and E. F., of, &c., and G. F. his wife 1. Parties. [vendors], of the one part, and I. K., of, &c. [purchaser], of the other part; WHEREAS the said A. B. and C. D., 2. Recital of and the said E. F. and G. F., in right of the said G. F., are seised of the hereditaments hereinafter expressed to be hereby granted in fee simple in possession in equal undivided third shares (a); AND WHEREAS the said A. B., 3. Agreement C. D., E. F., and G. F., have agreed with the said I. K. for the sale to him of the fee simple in possession of the same hereditaments, free from incumbrances, at the price for sale. of £, NOW THIS INDENTURE WITNESSETH 4. Witnesseth. that in pursuance of the said agreement and in consider- 5. Consideration. ation of the said sum of £- upon the execution of these presents to the said A. B., C. D., E. F., and G. F., (9) If the feoffment has been made by an adult vendor, the reference to the payment of the purchase-money will be omitted from the memorandum; and should the seisin have been delivered by the vendor's attorney, the fact will of course be noticed by making a suitable alteration in the memorandum. (a) The estate belonging to the wife and not being settled to her separate use, her husband and she are said to be seised of it in her Tenants in common, how they convey and right. It is not necessary that tenants in common should be seised in covenant. equal shares: they may all be seised in unequal shares: they convey and covenant for title only in respect of their own individual shares. VOL. II. BY TENANTS IN 6. Grants by tenants in common of their 7. Habendum. 8. Covenants by tenants in common; PRECEDENT VII. ledge) (b), They the said A. B. and C. D. as and according to their respective shares and estates hereby respectively grant and confirm, And she the said G. F. as and according to her share and estate, and with the concurrence of the said E. F. (testified by his being a party to and respective shares. executing these presents), doth hereby grant and dispose of, And he the said E. F. as and according to the same share and estate doth hereby grant and confirm unto the said I. K., his heirs and assigns (parcels, general words, p. 208); TO HAVE AND TO HOLD all the said premises herein before expressed to be hereby granted, Unto the said I. K., his heirs and assigns, in fee, TO THE USE of the said I. K., his heirs and assigns, for ever, AND EACH of them the said A. B. and C. D., so far only as relates to the equal undivided third share of which he claims to be seised as hereinbefore recited of the said premises hereinbefore expressed to be hereby granted, doth hereby for himself, his heirs, executors, and administrators, and he the said E. F., so far only as relates to the equal undivided third share of which he and the said G. F. claim to be seised as herein before recited of the same premises, and doth hereby for himself, his heirs, executors, and administrators, covenant with the said I. K., his heirs and assigns, that notwithstanding anything by the said A. B., C. D., E. F., and G. F., respectively, or by any of their respective ancestors or testators done, omitted, or knowingly suffered, they the said A. B., C. D., E. F., G. F., now have power to grant all the said premises hereinbefore expressed to be hereby granted, and every part thereof, To the use of the said I. K., his heirs and assigns, AND THAT the same premises shall at all times. remain and be To the use of the said I. K., his heirs and assigns, and be quietly entered into and upon, and held and enjoyed, and the rents and profits thereof received -for right to convey; -quiet enjoyment; and (b) If any of the shares be sold under a trust, it will be necessary to sever the purchase-money, and express the payments and receipts accordingly; but when all the shares are held by the vendors absolutely for their own benefit, it is usual and proper for them to sell, receive the purchase-money, and acknowledge the receipt collectively. PRECEDENT VII. BY TENANTS IN COMMON. cumbrances; by the said I. K., his heirs and assigns, accordingly, without any interruption or disturbance by them the said A. B., C. D., E. F., and G. F., or any of them, or any person claiming through or in trust for them respectively, free from inor any of them or any of their respective ancestors or testators, AND THAT free and discharged from or otherwise by them the said A. B., C. D., and E .F. respectively, or their respective heirs, executors, or administrators, sufficiently indemnified against all estates, incumbrances, claims, and demands, created, occasioned, or made by the said A. B., C. D., E. F., and G. F., or any of them, or any of their respective ancestors or testators, or any person claiming through or in trust for them, or any of them, or any of their respective ancestors or testators, AND FURTHER, that they the said A. B., C. D., E. F., and for further and G. F. respectively, and every person having or claiming any estate or interest in the said premises, or any part thereof, through or in trust for them respectively, or any of their respective ancestors or testators, will at all times at the cost of the said I. K., his heirs or assigns, execute and do every such assurance and thing for the further or more perfectly assuring all or any part of the said premises To the use of the said I. K., his heirs and assigns, as by the said I. K., his heirs or assigns, shall be reasonably required. IN WITNESS, &c (c). (Add Schedule). assurance. VIII. CONVEYANCE by TENANT FOR LIFE and TENANT IN PRECEDENT VIII. TAIL (a). THIS INDENTURE, made, &c., between A. B., of, (c) The deed must be acknowledged by G. F. (a) Sales of reversionary interests, especially where an heir is the vendor, depend upon peculiar principles, and each case must depend on its own circumstances; the courts professing not to lay down any BY TENANTS FOR TAIL. 1. Parties. Sales of reversionary interests. BY TENANTS FOR TAIL. 2. Recitals showing tenancy for life and in tail. PRECEDENT VIII. &c. [vendor, tenant for life], of the first part, C. D., of, &c. [vendor, tenant in tail], of the second part, and E. F., of, &c. [purchaser], of the third part: WHEREAS, &c. [Recitals showing the origin of the estates for life and in tail, or stating their existence]: AND WHEREAS the said A. B. and C. D. have agreed with the said E. F. for the sale to him of the inheritance in fee simple in possession, free from incumbrances, of the said hereditaments hereinafter expressed to be hereby granted at the price of £―: NOW THIS INDENTURE WITNESSETH, that in pursuance of the said agreement, and in consideration of the sum of £ to the said A. B. and C. D. upon the execution of these presents paid by the said 6. Tenant for life E. F. (the receipt of which sum of £the said A. B. and C. D. hereby acknowledge), he the said A. B., as to 3. Agreement for sale of fee simple. 4. Witnesseth. 5. Consideration. grants; Principles on which sales by a father, tenant for life, and his son, tenant in tail in remainder, are supported. Purchase-money and succession particular rule, lest devices should be framed to evade them. Under ordinary circum satnces, adequacy of consideration is absolutely essential to give validity to such a sale, and not only does the burden of proving that the full value was given lie on the purchaser, but the present state of the law, practically, is this, that unless a purchaser gives much more than the value of the reversion, it is impossible for him to purchase safely except at an auction. Transactions between a father and son, however, are treated as family arrangements, and not as dealings for reversionary interests. A fair arrangement between them will be supported, though made by a third party with a fraudulent intention of benefiting himself, and a bonâ fide sale by a father, tenant for life, and this son, tenant in tail in remainder, will not be set aside on the ground of the inadequacy of the consideration paid to the son, unless the son has a distinct ground of relief; for they form a vendor with a present interest. See Sugd. V. P. ch. vii., s. 1, and the cases there cited. Upon the principle here stated, the price given for an estate sold duty, how paid. by a tenant for life and tenant in tail in remainder is, in practice, paid by the purchaser to the vendors jointly, leaving them to apportion it between themselves, and to settle how much of it is the proper consideration for the life interest, and how much for the reversion; and the vendors must compound for, and pay before completion, the succession duty which would otherwise be payable on the death of the life tenant: Dart, 382. As between the vendor and purchaser of a reversion alone, the purchaser pays the duty: Cooper v. Trewby, 28 Beav. 194. BY TENANT FOR TAIL. -and tenant in grants. his estate for his life in the hereditaments hereinafter PRECEDENT VIII. described, doth hereby grant, and he the said C. D., as to the remainder in fee simple expectant upon the said life estate in the same hereditaments, and with the consent of the said A. B. as protector of the settlement tail, with consent (testified by his being a party to and executing these of protector, presents), doth hereby grant and confirm unto the said E. F., his heirs and assigns, All that [parcels, general words, supra, p. 208]: To HAVE AND TO HOLD all the 7. Habendum; said premises herein before expressed to be hereby granted (freed and discharged from the said estate tail and all freed from other estates tail of the said C. D. in the same premises, entail; and all remainders, reversions, estates, rights, titles, interests and powers to take effect after the determination or in defeazance of such estate tail or estates in tail) unto the said E. F., his heirs and assigns, To THE USE of the said E. F., his heirs and assigns, for ever: AND HE the said A. B., so far as relates to the estate for his life in the said premises hereinbefore expressed to be hereby mainderman granted, doth hereby for himself, his heirs, executors and in tail. administrators, And he the said C. D., so far as relates to the remainder in fee simple expectant upon the said life estate in the same premises, doth hereby for himself, his heirs, executors, and administrators, covenant with the said E. F., his heirs and assigns, that notwithstanding, &c. (supra, p. 226) (b). IN WITNESS, &c. -to purchaser in fee. 8. Covenants for title by life tenant and re (b) See another form of covenant by a tenant for life, infra, Precedent IX., and a surrender of copyholds by tenant for life and in tail, infra, Precedent XXXII. The conveyance must be enrolled in Chancery within six calendar months after its execution, under the provisions of the Fines and Recoveries Act 3 & 4 Wm. 4, c. 74, s. 41. |