FREDERICK ALBERT LEWIN, OF LINCOLN'S INN, ESQUIRE, BARRISTER-AT-LAW, AND LATE FELLOW WITH AMERICAN NOTES ALSO A SUPPLEMENTARY CHAPTER ON TRUSTS FOR ACCUMULATION. By WILLIAM C. SCOTT, Esq., OF THE PHILADELPHIA BAR. VOLUME II. PHILADELPHIA: THE BLACKSTONE PUBLISHING COMPANY. Entered according to the Acts of Congress, in the year 1888, by the BLACKSTONE PUBLISHING COMPANY, in the office of the Librarian of Congress, at Washington, D. C. NOTE. We suggest to our patrons that, to facilitate the labor of the Judges and Reporters, they cite the TOP PAGING of books of our SERIES, and add [TEXT BOOK SERIES.]—Editor. * CHAPTER XVII. [ * 385] DUTIES OF TRUSTEES FOR RAISING PORTIONS. THE subject of portions is of so extensive a character, that to exhaust it would require a treatise by itself. All that can be attempted in a single chapter is a brief summary of the law upon the points of most usual occurrence in practice. We propose in the first section to inform trustees Who are who are their cestuis que trust, or in other words who portionists. are to be regarded as portionists-a question that appears simple enough in itself, and yet involves a multitude of cases which can only be reconciled by the most refined distinctions. The principal struggle has been where and under what circumstances an eldest son is to be included amongst or excluded from the designated class. But further, the question who are portionists, involves the inquiry when or at what time portions, which are regulated by peculiar principles, are vested; and again, even if portions may have become vested, it remains to be asked whether they may not have become divested on the doctrines of ademption and satisfaction---doctrines which open a wide field of controversy, and are to some extent left still in an unsatisfactory state. In the second section we shall explain (and this may Amount to be compressed within much narrower bonds) what is the be raised. amount to be raised, both as regards the principal sum and interest, and also as to costs; [and also in what cases maintenance will be allowed, even though the corpus be not vested.] In the third section we shall have to consider at what When to be time the portions ought to be raised, and more par- raised. ticularly when portions are charged on reversionary interests, for then either the estate must suffer by raising the portions at a sacrifice in præsenti out of an interest to take effect in future, or else the portionists must be left destitute until the reversion falls into possession. * Lastly, in the fourth section we shall offer [* 386] Mode of some practical remarks as to the best mode of raising raising. the portions, as whether by sale or mortgage, or a fall of timber, or out of mines, or in what other manner. |