to trustees. the sd F., H., & K., as trees do hby grant unto the sd H., K., & L. (a), ALL & SINGR the manors, messes, lands, & hds by the settlemt limd or assured unto or to the use of the sd F., H., & K., & their hrs, durg the respive lives thrin mentd, or for any other este or intt of a freehd nature (b): To HOLD the same Habendum UNTO & TO THE USE of the sd H., K., & L., & their hrs, for all the este or estes, intt or intts of a freehd nature, by the settlemt limd to the use of or vested in the sd F., H., & K., & their hrs, nevs upon the trusts, & subjt to the powers & provons by & in the settlemt decld & contd concerng the same]: [AND THIS INDRE ALSO WITNETH that, in psuance of Assignthe sd apptmt, the sd F., H., & K., as trees do hby assn unto the sd H., K., & L., ALL & SINGR the manors, &c., by the settlemt limd or assured to the use of them, the sd F., H., & K., their exs, ads, & assns, for the respive terms of & ment of jointure and por tions terms. to trustees. ment of leaseholds. yrs as thrin mentd: TO HOLD the same UNTO the sd H., Haben dum K., & L., their exs, ads, & assns, for the respive terms of yrs so limd to or vested in the sd F., H., & K., their exs, ads, & assns as afsd, nevs upon the trusts, &c., as above.] AND Assign THIS INDRE ALSO WITNETH that, in psuance, &c., the sd F., H., & K., as trees do hby assn unto the sd H., K., & L., ALL & SINGR the messes, lands, & hds of leasehd tenure by the settlemt assned or assured to the sd F., H., & K., their exs, ads, & assns: TO HOLD the same UNTO the sd H., K., & L., their exs, ads, & assns, for the residue of the respive terms of yrs for wch the same are resply holden, subjt to the paymt of the rents & the pformce & observce of the covts & condons. reserved & contd in the respive leases under wch the same resply are holden, nevs upon the trusts, &c., as above. AND Covenant THIS INDRE ALSO WITNETH that, in psuance of, &c., each of them, the sd F., H., & K., as a tree, so far only as relates holds. to the acts of himself & his own hrs, doth hby covt with the sd L., his hrs & assns, that they, the sd F., H., & K., or their hrs, cort to surrender copyhds at expse of trust este to the use of H., K., & L., & their hrs, see p. 117, nevs upon the trusts, &c., as above. IN WITS, &c. (a) See above, p. 110, note. (b) As to the omission of the general words and all estate clause, see above, p. 111, note, and p. 116, note. to surren Recitals. Request to appoint. Vesting declaration. As to vesting equitable estate in term. VIII. APPOINTMENT by supplemental deed of new Trustees of a PORTIONS TERM by the EXECUTOR of the LAST SURVIVING Trustee under the STATUTORY POWER, with the concurrence of the principal beneficiaries. VESTING declaration as to FREEHOLDS and EQUITABLE COPYHOLDS (a). PARTIES, A., exor of last survivg tree, 1; B., C., & D., beneficiaries, 2; E. & F., new trees, 3. WHAS these psnts are supplemental to an indre, &c. (hinafter called the ppal indre), being a deed limitg a term of 1500 yrs, to commce from the death of the survor of X. & Y. to M. & N. for raisg portions. Deaths of X. & Y. Death of M. Will of N. apptg A. exor. Death & probate. That sales, &c., & reinvestmts in pchase of freehds & copyhds have been made, see last Precedent, note, p. 119: AND WHAS the sd A. has been requested by the pties hto of the 2nd pt to appt the sd pties hto of the 3rd pt to be trees of the sd portions term in the place of the sd M. & N.: NOW THIS INDRE WITNETH that, in exercise of the power for this ppose conferred by the Statute in that behalf, & of every other power, &c., the sd A., with the approbon (hby testified) of the sd pties hto of the 2nd pt, doth hby nominate & appt the sd E. & F. to be trees of the ppal indre in the place of the sd M. & N., for all the pposes for wch the sd M. & N. were by the same indre appted trees: AND THE SD A. DOTH HBY DECLARE that all such of the hds, of whatsr tenure (b), comprd in the ppal indre, & thby limd or settled to the use of or in trust for the sd M. & N. for the sd term of 1500 yrs as remain unsold, & all other lands & hds, of whatsr tenure, wch by the means hinbfe recited, or by any other means whatsr, have become or are now comprd in or subjt to the trusts of the same term, & all the este & intt thrin (whether at law or in equity) wch was vested (a) See pp. 103-107. (b) As the entire legal estate in fee in the copyholds is in the general trustees of the settlement, and the trustees of the term of 1,500 years have only an equitable estate in them for the term, this can be vested by declaration under the Tree. Act, 1893 (which repeals, and by sec. 12 re-enacts, the Conv. Act, 1881, s. 34), as it is not within the exception in sec. 12 (3) of that Act. in the sd M. & N. or the survor of them, or is now vested in IX. APPOINTMENT of NEW TRUSTEES (the NUMBER being increased) of a WILL containing a general devise and bequest of Freehold, Copyhold, Leasehold, and Personal Estate in TRUST for CONVERSION. CONVEYANCE and ASSIGNMENT of the Trust PROPERTY (c), PART having been converted & the PROCEEDS invested in various securities. VARIATIONS, where the COPYHOLDS are not devised to but directed to be sold by the Trustees: and where the appointment is made under the STATUTORY POWER. PARTIES, A., continuing tree, 1; B., retirg tree, 2; H. & K., new trees, 3. WHAS X., late of, &c., deced, by his will dated, &c., after bequeathg certn legacies & annies, devised & bequed all his freehd [copyhd] & leasehd estes, & all the residue of his psonal este unto & to the use of the sd A. & B., their hrs, exs, ads, & assns resply, upon the trusts thinafter mentd, & he thby directed his sd trees to sell, convert, & get in the same Recital of will (d). (c) As to vesting the trust estate by declaration, see p. 103. Where the As to executorship has not been wound up, it may be desirable to add a declara- declaration avoiding tion that the conveyance of the trust estate is not to be deemed an assent by executors' the executors to the specific or residuary bequests of leaseholds or personalty assent to in trust: see Re Tuck, 30 Sol. J. 320. bequests. (d) The appointment may, for greater brevity, be treated as supplemental As to to the will (to which there is of course no objection, although s. 53 making of the Conv. Act, 1881, applies to deeds only, see p. 2, note), in which appoint ment sup case it will be expressed as intd to be read as annexed or sup- plemental plemental to the will of X., late of, &c., dated, &c., & to will. proved, &c." Death and probate. Admittance to copyholds. Executor up. Present state of [& also all his, the sd testor's, copyhd estes] & to invest the 66 were on the day of day of : [AND WHAS the sd A. & B. duly admitted to all the copyhd hds devised by the sd will]: AND WHAS all the funl & testy expses & debts of the sd testor, ship wound & the legacies bequed by his sd will have been fully pd & satisfied, & one of the annies thby bequed has ceased by the death of the annuitant, & all arrears thof have been pd, & the sum of £—, &c., Annies was appropriated & invested in the names of the sd A. & B. to answer such of the annies thby bequed as were payable: AND WHAS such last mentd sum was in the yr 18- sold & the proceeds invested in, &c. AND WHAS trust funds. pt of the sd testor's residuary psonal este has been got in & realised by the sd A. & B., & the clear proceeds thof (after such paymts & approprions as afsd) have been invested by them in the pchase in their names of divers stks, funds, shares, & secs, psuant to the trusts of the sd will, & some of such investmts have since been transposed, & the parlars of the psnt investmt thof (inclusive of the investmt appropriated to provide for the sd annies) are specified in the first schdle hto: AND WHAS the real & leasehd estes of the sd testor have not yet been sold psuant to the trusts of his sd will, & consist of, &c., converted. short parlars referrg, if convenient, to a second schdle: AND Personal WHAS certn portions of the sd testor's psonal este are also still outstandg or unrealised, & consist of, &c., short Real and leasehold estate not estate still outstanding. (a) The testator is supposed to have died before 1882, or to have been admitted to copyholds vested in him as trustee or mortgagee; see C. A., 1881, s. 30; and as to copyholds, see Copyhold Act, 1894, repealing, and, by s. 88, re-enacting, the Copyhold Act, 1887, s. 45. retire and to transfer freeholds. parlars referrg, if convenient, to a third schdle; AND WHAS Desire to the sd B. is desirous of being dischged from the trusts of appoint. the sd will, & the sd A. & B. are desirous of apptg the sd H. & K. to be trees thof in the place of the sd B. AND WHAS the Intention sevl stks, funds, shares, & secs specified in the sd first schdle stocks. hto are intd to be forthwith transferred into the jt names of or so as to be under the jt legal control of the sd A., H., & K.: NOW THIS INDRE WITNETH, &c., apptmt under the power Appointin the will, if any, or in the statute, of H. & K., "to be trees of ment. the sd will in the place of the sd B.," p. 106 (b): AND THIS Grant of INDRE ALSO WITNETH that, in psuance of the sd apptmt, the sd A. & B. as trees do hby grt unto the sd A., H., & K. (c), ALL THOSE the sd freehd hds & premes hinbfe [& in the Parcels. second schdle hto] mentd, & all & singr other (if any) the freehd messes, tenemts, lands, tithes, & hds whatsr & wheresr by the sd will of the sd X. devised to the use of the sd A. & B. & their hrs, or wch are now by any means vested in the sd A. & B. upon the trusts of the sd will (d); TO HOLD the same UNTO & Habendum TO THE USE of the sd A., H., & K., their hrs & assns, subjt to the leases & tenancies affectg the sd respive premes, upon the trusts hinafter expd: [Cort by A. & B., with H. & K., to Covenant surrender the copyhds to the use of A., H., & K., & their hrs, to be inserted if the copyhds are devised by the will to the trees, see holds. Precedent V.:] AND THIS INDRE ALSO WITNETH that, Assignin psuance of the sd apptmt, the sd A. & B. as trees do hby leaseholds. assn unto the sd A., H., & K., ALL THOSE the sd leasehd Parcels, to trustees. to surrender copy ment of the number of trustees. (b) If there is no power in the will to increase the number of trustees, As to this can only be done, if at all, under the Trustee Act, 1893, repealing, and increasing by s. 10 re-enacting the C. A., 1881, s. 31; see above, p. 102. As to the retrospective operation of those enactments, see p. 99. If the will was before the Act and omitted the power in reliance on Lord Cranworth's Act (which did not authorize the number to be increased), it is conceived that the appointment to fill the vacancy should be made under the combined operation of that Act and the will (if containing a provision enabling the number to be increased), or the Trustee Act, 1893, in which case the retiring trustee need not join in the appointment; but to obviate doubt it is better that he should do so, or if for any reason he is unable or unwilling this should be recited (see p. 101); and (if the appointment is made under the Trustee Act, 1893, alone) he would, if able and willing, have to join in it; see p. 101. (c) See above, p. 110, note. (d) As to the omission of the general words and all estate clause, see above, p. 111, note, and p. 116, note. |