INFANTS; WOMEN; LUNATICS. S. 60. Tenant for life, infant. S. 61. Married Woman, how to be aflected. S. 62. Tenant for life, lunatic. SETTLEMENT TRUSTS FOR SALE. S. 63. Provision for case of trust to sell in land. 60. Where a tenant for life, or a person having the powers of a tenant for life under this Act, is an infant, or an infant would, if he were of full age, be a tenant for life, or have the powers of a tenant for life under this Act, the powers of a tenant for life under this Act may be exercised on his behalf by the trustees of the settlement, and if there are none, then by such person and in such manner as the Court, on the application of a testamentary or other guardian or next friend of the infant, either generally or in a particular instance, orders (a). 61.-(1.) The foregoing provisions of this Act do not apply in the case of a married woman. (2.) Where a married woman who, if she had not been a married woman, would have been a tenant for life or would have had the powers of a tenant for life under the foregoing provisions of this Act, is entitled for her separate use, or is entitled under any statute, passed or to be passed, for her separate property, or as a feme sole, then she, without her husband, shall have the powers of a tenant for life under this Act. (3.) Where she is entitled otherwise than as aforesaid, then she and her husband together shall have the powers of a tenant for life under this Act. (4.) The provisions of this Act referring to a tenant for life and a settlement and settled land shall extend to the married woman without her husband, or to her and her husband together, as the case may require, and to the instrument under which her estate or interest arises, and to the land therein comprised (b). (5.) The married woman may execute, make, and do all deeds, instruments, and things necessary or proper for giving effect to the provisions of this section. (6.) A restraint on anticipation in the settlement shall not prevent the exercise by her of any power under this Act. The Married Women's Property Act, 1882, must, on and after the 1st January, 1983, be constantly kept in mind when the estate of any married woman is in question. As to restraint of anticipation, cf. s. 39, 44 & 45 Vict. c. 41, unte p. 394; and s. 19, 45 & 45 Vict. c. 75. 62. Where a tenant for life, or a person having the powers of a tenant for life under this Act, is a lunatic, so found by inquisition, the committee of his estate may, in his name and on his behalf, under an order of the Lord Chancellor, or other person intrusted by virtue of the Queen's Sign Manual with the care and commitment of the custody of the persons and estates of lunatics, exercise the powers of a tenant for life under this Act; and the order may be made on the petition of any person interested in the settled land, or of the committee of the estate. XV-SETTLEMENT BY WAY OF TRUSTS FOR SALE. 63.-(1.) Any land, or any estate or interest in land, which under or by virtue of any deed, will, or agreement, covenant to surrender, copy of court roll, Act of Parliament, or other instrument or any number of instruments, whether made or passed before or after, or partly before and partly after, the commencement of and re-invest this Act, is subject to a trust or direction for sale of that land, estate, or interest, and for the application or disposal of the money to arise from the sale, or the income of that money, or the income of the land until sale, or any part of that money or income, for the benefit of any person for his life, or any other limited period, or for the benefit of two or more persons concurrently for any limited period, and (a) Cf. 44 & 45 Vict, c. 41. s. 42, ante, p. 395. 1 (b) Cf. S. 2 (1)-(7) ante, pp. 711, 712. BY WAY OF TRUSTS FOR SALE. whether absolutely, or subject to a trust for accumulation of income for payment SETTLEMENT of debts or other purpose, or to any other restriction, shall be deemed to be settled land, and the instrument or instruments under which the trust arises shall be deemed to be a settlement; and the person for the time being beneficially entitled to the income of the land, estate, or interest aforesaid until sale, whether absolutely or subject as aforesaid, shall be deemed to be tenant for life thereof; or if two or more persons are so entitled concurrently, then those persons shall be deemed to constitute together the tenant for life thereof; and the persons, if any, who are for the time being under the settlement trustees for sale of the settled land, or having power of consent to, or approval of, or control over the sale, or if under the settlement there are no such trustees, then the persons, if any, for the time being, who are by the settlement declared to be trustees thereof for purposes of this Act are for purposes of this Act trustees of the settlement. (2.) In every such case the provisions of this Act referring to a tenant for life and to a settlement, and to settled land, shall extend to the person or persons aforesaid, and to the instrument or instruments under which his or their estate or interest arises, and to the land therein comprised, subject and except as in this section provided (that is to say): (i.) Any reference in this Act to the predecessors or successors in title of the tenant for life, or to the remaindermen, or reversioners, or other persons interested in the settled land, shall be deemed to refer to the persons interested, in succession or otherwise, in the money to arise from sale of the land, or the income of that money, or the income of the land, until sale (as the case may require). (ii.) Capital money arising under this Act from the settled land shall not be applied in the purchase of land unless such application is authorized by the settlement in the case of capital money arising thereunder from sales or other dispositions of the settled land, but may, in addition to any other mode of application authorized by this Act, be applied in any mode in which capital money arising under the settlement from any such sale or other disposition is applicable thereunder, subject to any consent required or direction given by the settlement with respect to the application of trust money of the settlement. (iii.) Capital money arising under this Act from the settled land and the securities in which the same is invested, shall not for any purpose of disposition, transmission, or devolution, be considered as land unless the same would, if arising under the settlement from a sale or disposition of the settled land, have been so considered, and the same shall be held in trust for and shall go to the same persons successively in the same manner, and for and on the same estates, interests and trusts as the same would have gone and been held if arising under the settlement from a sale or disposition of the settled land, and the income of such capital money and securities shall be paid or applied accordingly. (iv.) Land of whatever tenure acquired under this Act by purchase, or in exchange, or on partition, shall be conveyed to and vested in the trustees of the settlement, on the trusts, and subject to the powers and provisions which, under the settlement, or by reason of the exercise of any power of appointment or charging therein contained, are subsisting with respect to the settled land, or would be so subsisting if the same had not been sold, or as near thereto as SETTLEMENT REPEALS. S. 64. Repeal of enactments in schedule. IRELAND. S. 65. Modifications respecting Ireland. 40 & 41 Vict. c. 57. 40 & 41 Vict. c.56. circumstances permit, but so as not to increase or multiply charges or powers of charging. For Precedents of Settlement by way of trusts for sale, cf. ante, pp. 652, 654 Subsection (iii) is the converse of S. 22 (5), ante, p. 720. Subsection (iv.) (as to which cf. S. 34 ante, p. 726) refers to the exception in (ii.) supra. XVI.-REPeals. 64.-(1.) The enactments described in the schedule to this Act are hereby repealed. (2.) The repeal by this Act of any enactment shall not affect any right accrued or obligation incurred thereunder before the commencement of this Act; nor shall the same affect the validity or invalidity, or any operation, effect, or consequence, of any instrument executed or made, or of anything done or suffered, or of any order made, before the commencement of this Act; nor shall the same affect any action, proceeding, or thing then pending or uncompleted; and every such action, proceeding, and thing may be carried on and completed as if there had been no such repeal in this Act. The 23 & 24 Vict. c. 145 Pt. I (ss. 1-10) conferred on trustees for sale and exchange certain powers auxiliary thereto, and enabled trustees of renewable leaseholds to renew (). These powers were partly superseded by powers conferred by the Conveyancing Act, 1881 (6), and will in future be altogether superseded by the powers conferred by the present Act. The Convey ancing Act, 1881, also superseded and repealed Pt. II (ss. 11-24, cf. ante, pp. 377-378), and Pt. III (ss. 25-30, of, ante, pp. 400, 401, 391-393), 23 & 24 Vict. c. 145; Pt. iv. (ss. 31-35), which merely contained anxiliary powers, is now hereby repealed. The repealed portion of the 27 & 28 Vict, c. 114 relates to advertisements to be issued before sanction of Inclosure (now Land) Commissioners was obtained for an improvement and for protection of minors. S. 36 ante, p. 725 corresponds almost verbatim with s. 17, 40 & 41 Vict, e. ls, ante, p. 463. XVII.-IRELAND. 65.-(1.) In the application of this Act to Ireland the foregoing provisions shall be modified as in this section provided (c). (2.) The Court shall be Her Majesty's High Court of Justice in Ireland (e). (3.) All matters within the jurisdiction of that Court shall, subject to the Acts regulating that Court, be assigned to the Chancery Division of that Court; but General Rules under this Act for Ireland may direct that those matters or any of them be assigned to the Land Judges of that Division (c). (4.) Any deed inrolled under this Act shall be inrolled in the Record and Writ Office of that Division (d). (5.) General Rules for purposes of this Act for Ireland shall be deemed Rules of Court within the Supreme Court of Judicature Act (Ireland) 1877, and may be made accordingly, at any time after the passing of this Act, to take effect on or after the commencement of this Act. (8.) The several Civil Bill Courts in Ireland shall, in addition to the jurisdiction possessed by them independently of this Act, have and exercise the power and authority exerciseable by the Court under this Act, in all proceedings where the property, the subject of the proceedings, does not exceed in capital value five hundred pounds, or in annual value thirty pounds (e). (7.) The provisions of Part II. of the County Officers and Courts (Ireland) Act, 1877, relative to the equitable jurisdiction of the Civil Bill Courts, shall apply to the jurisdiction exerciseable by those Courts under this Act (e). (8.) Rules and Orders for purposes of this Act, as far as it relates to the Civil Bill Courts, may be made at any time after the passing of this Act, to take, effect on or after the commencement of this Act, in manner prescribed by section seventynine of the County Officers and Courts (Ireland) Act, 1877 (a). (9.) The Commissioners of Public Works in Ireland shall be substituted for the Land Commissioners (b). (10.) The term for which a lease other than a building or mining lease may be granted shall be not exceeding thirty-five years (e). IRELAND 41 42 Vict c. 31. BILLS OF SALE ACT (1878) AMENDMENT ACT, 1882. An Act to amend the Bills of Sale Act, 1878 (a). [18th August, 1882] hereas it is expedient to amend the Bills of Sale Act, 1878: most Excellent Majesty, 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: A brief history of the several phases through which the present measure passed before it became law, will throw considerable light on the interpretation to be put upon its various provi sions, and will, perhaps, help the reader to understand its extraordinary shortcomings. Pr the time the Act of 1878 came into force, the number of registered bills of sale began rapidly to rise until in 1881 the annual average for England and Wales became 50,000. Of this huge total the vast majority were for sums under £50, given by the most necessitous members of the co munity to a set of unscrupulous money lenders, whose rate of interest in some cases reached the modest figure of four hundred per cent.! (b). Not only was the rate of interest preposterous. but bills of sale were framed with so many clauses of forfeiture, that seizure and sale of the goods comprised therein were the almost immediate consequence-attended, of course, with the speedy ruin of the unfortunate borrower (c). The growing scandal of such a state of things induced the present Lord Chancellor to issue a circular letter dated 81st January, 11 the Judges and Registrars of the county courts in England and Wales, requesting information as to the operation and effect of the Act of 1878, and as to any suggestions for amending the law. In reply to this circular, ample testimony was borne to the iniquities that were daily practised. and the remedies in general suggested were-1. To restrict bills of sale to actually acquired pr perty. 2 To restrict the causes for which there could be a forfeiture. 2. To repeal S. 20 of the Act of 1878. 4. To avoid bills of sale where the grantor became bankrupt within a certain time from execution thereof. 5. To keep a local register in each County Court (e). A bill to (a) Ante, pp. 491-522. (b) Cf. Paper reporting Evidence before Select Committee H.C. No. 341 (1882); 267 Hans, 3.9. (c) Ib; of. 270 Hans. 1545. (d) Parl. Paper, c. 2839 (1882). |