PRECEDENT SETTLEMENT. limited (b), from and after the solemnisation of the said marriage, to the use of the said H. W. and H. H., their executors, administrators, and assigns, for the term of TO USES ninety-nine years, upon trusts for securing to the said L. B., during the joint lives of the said A. B. and L. B., an annual sum of £- for her separate use, and from and after the expiration or determination of the said term, and in the meantime subject thereto and to the trusts thereof, to the use of the said L. B. and her assigns, during the joint lives of herself and the said A. B., without impeachment of waste, with remainder to the use of the said E. F. and G. H. and their heirs, during the joint lives of the said C. D. and A. B., in trust for the said C. D. and her assigns, and to preserve the contingent remainders, with remainder, after the decease of the said A. B. (whether he should happen to survive the said C. D. or not), to the use and intent that, in case the said L. B. should survive the said A. B., the said L. B. and her assigns should receive, during her life, a clear yearly rent-charge of £500, to be issuing and payable out of the said manors and hereditaments comprised in and limited by the said indenture of release; and should, after the decease of the said A. B., so long as she should remain his widow, also receive a further clear yearly rent-charge of £500, to be issuing and payable as aforesaid; and to the further use and intent, that, in case the said L. B. should survive the said A. B., the said L. B. and her assigns should, after the decease of the survivor of the said A. B. and C. D., receive, during her life, a further clear yearly rent-charge of £500, to be issuing and payable as aforesaid, and should, after the decease of the survivor of them the said A. B. and C. D., so long as she should remain the widow of the said A. B., receive a further clear yearly rent-charge of £500, to be issuing and (b) This is the old form of reciting a settlement to the uses of which land is to be conveyed, and it is still often employed; but at the present day the form given in the next Precedent is also often used. VOL. II. X PRECEDENT TO USES OF A payable as aforesaid; the said yearly rent-charges of £500, £500, £500, and £500 respectively, to be payable in such manner, and to be attended with such powers and remedies for recovering and compelling payment thereof when in arrear, by distress and entry upon, and detention of the possession and perception of the rents and profits of the said manors and hereditaments comprised in the said indenture of release as in the same indenture are mentioned; and subject to the said yearly rent-charges of £500, £500, £500, and £500, and to the powers and remedies for enforcing payment of the same respectively, to the use of the said G. D. and S. H., their executors, administrators, and assigns, for the term of five hundred years, to commence from the decease of the said A. B., without impeachment of waste, upon trusts in the said indenture of release mentioned for further securing the said yearly rent-charges respectively; and after the decease of the survivor of the said A. B. and L. B., and whether the said C. D. should be living or not, upon trust to raise for the portions of the children of the said marriage (except an eldest or only son) the sums therein mentioned, namely, the sum of £ if one child, and if two or more children the sum of £- to be vested and payable in such manner, and with such powers of appointment, and provisions for the maintenance, education, and advancement of such children, as are in the said indenture of release mentioned, with a proviso for cesser, in the events therein mentioned, of the said term of five hundred years; and from and after the expiration or determination of the said term, and in the meantime subject thereto and to the trusts thereof, to the use of the said C. D. and her assigns for her life, without impeachment of waste, with remainder to the use of the said E. F. and G. H. and their heirs, during the life of the said C. D., in trust for her and her assigns, and to preserve the contingent remainders, with remainder to the use of the said A. B. and his assigns, for his life, without impeachment of waste, with remainder to the use of the said E. F. and G. H. and their heirs, during the PRECEDENT SETTLEMENT. life of the said A. B., in trust for him and his assigns, and to preserve the contingent remainders, with remainder to the use of the first and every other son of the body of TO USES OF A the said A. B. on the body of the said L. B. to be begotten, severally and successively, according to their respective seniorities, in tail male, with remainder to the use of the first and every other son of the body of the said A. B. on the body of the said L. B. to be begotten, severally and successively, according to their respective seniorities, in tail general, with remainder to the use of all and every the daughters of the said A. B. and L. B., as tenants in common in tail general, with cross remainders between them in tail general, with remainder to the use of the said A. B., his heirs and assigns: AND in the 3. Powers of the said indenture of release was reserved a power to the said A. B. to charge the said manors and other hereditaments with any sum or sums of money not exceeding £5000, and interest; and to raise the same as therein mentioned, and to limit such rent-charge or rent-charges as therein mentioned, to any wife or wives with whom he might intermarry after the death of the said L. B., and to charge such sum or sums of money by way of portions for the children of any such future marriage as therein mentioned, and also such power of leasing as is therein contained: settlement. AND by the said indenture of release, powers of sale and 4. Power of sale exchange, and of partition, were given to the said E. F. and exchange. and G. H., and the survivor of them, and the executors or administrators of such survivor, to be exercised in manner therein mentioned, and at the request and by the direction of the person or persons therein mentioned (c): AND IT WAS by the said indenture of release also pro 5. Money aris vided, that when all or any part or parcel, parts or ing from sales to (c) As the intention in the present deed is to effect a purchase, it is not necessary to go into the particulars of the sale by which the money now to be laid out was raised. It is enough to show, that there was a power of sale, and that the trustees sold some land, and received the purchase-money; the power to invest that purchasemoney should be fully set forth, as in the text. PRECEDENT TO USES OF A be laid out in purchase of land. 6. Recital of con veyances to uses in favour of A. B. of lands pur. chased; parcels, of the said manors and hereditaments thereby made saleable as aforesaid should be sold, in pursuance of the said power, for a valuable consideration in money, and also when any sum or sums of money should be received for equality of exchange or partition, in pursuance of the said powers thereinbefore contained, the said E. F. and G. H., or the survivor of them, or the executors or administrators of such survivor, should, with all convenient speed (with the consent of the said C. D. during her life, and after her decease, with the consent of the person or persons therein mentioned, to be testified by writing under her, his, or their hand or respective hands), lay out and invest all and every the sum and sums of money which should arise by such sale or sales, and be paid for equality of exchange or partition as aforesaid, in the purchase of other manors, messuages, lands, or hereditaments in possession, in England or Wales, of a clear and indefeasible estate of inheritance in fee simple, and that as well the hereditaments so to be purchased, as all and every the manors and hereditaments so to be received in exchange or on partition as thereinbefore mentioned, should be forthwith settled, conveyed, and assured for and upon such uses, trusts, intents, and purposes, and with, under, and subject to such powers, provisoes, conditions, and agreements as were in and by the said indenture of release limited, expressed, declared, and contained of and concerning the manors, messuages, and other hereditaments therein comprised, or as near thereto as the deaths of parties and other contingencies or the cir cumstances of the case would then permit : AND WHEREAS the hereditaments hereinafter expressed to be hereby appointed and granted were purchased by the said A. B. at the price of £700, and were, by an indenture dated the 14th day of April, 1855, and expressed to be made between [parties], conveyed and assured To such uses, for such estates, and in such manner as the said A. B. should by deed appoint, and in default of and until and subject to such appointment, To the use of the' said A. B. and his assigns during his life, without impeach 1855, the PRECEDENT XXIV. SETTLEMENT. 7-of sale by the trustees to a railway com pany; 8.-of contract of purchase. ment of waste, with remainder to the use of the said [dower trustee] and his heirs during the life of the said A. B., in trust for the said A. B. and his assigns, with TO USES OF A remainder to the use of the said A. B., his heirs and assigns AND WHEREAS, in the month of said E. F. and G. H., at the request and by the direction of the said C. D., in consideration of the sum of £593 paid to them by the Railway Company, and in exercise of the said power contained in the said indenture of settlement, sold and conveyed to the said Company three pieces of land, situate in the parish of, in the county of, containing- or thereabouts, and being part of the hereditaments comprised in the said indenture of settlement: AND WHEREAS the said E. F. and G. H., as trustees of the said indenture of the 6th day of February, 1837, and in pursuance of the direction in that behalf therein contained, have, with the consent of the said C. D. (testified by this writing under her hand), agreed with the said A. B. for the purchase of the fee simple in possession of the said hereditaments hereinafter expressed to be hereby appointed and granted, free from incumbrances, at the price of £593; and it is intended that the said sum of £593, received from the said Railway Company, shall be the sum of money paid to the said A. B. as the said price of the said hereditaments (d): NOW THIS INDENTURE WITNESSETH, that, in 9. Witnesseth: pursuance of the said agreement, and in consideration of consideration, the said sum of £593, upon the execution of these pre-receipt, sents to the said A. B. paid by the said E. F. and G. H., (d) A tenant for life, although a necessary party to the exercise of a power of sale or exchange, can take the settled estate under an exercise of the power, either by way of purchase or exchange: Howard v. Ducane, 1 T. & R. 81; Sugd. Pow., 838; and, of course, he may on the same principle sell to the trustees. In the case in the text, it is recited, that A. B. gave £700 for the property he sells to the trustees for £593, in order to show on the face of the conveyance that the transaction is fair, as regards the settled estate: see Bevan v. Habgood, 1 John & Hem. 222. Tenant for life may deal with his trustees. |