No. VII. SPECIMENS OF MODERN CONVEYANCING.* I. MARRIAGE SETTLEMENT OF REAL ESTATE. Settlement on Marriage of Real Estate, (Freehold and Copyhold) upon the Husband and Wife successively for Life, with remainder to the Children of the marriage, as the Husband and Wife, or the Survivor, shall appoint; and in default, in equal Shares in Tail as Tenants in common, with cross Remainders. Powers of Management during Minorities, of Leasing, and of Sale and Exchange.† Parties. THIS DEED, made &c., BETWEEN A. B., of &c. [intended husband], of the first part; C. D., of &c. [intended wife], of the second part; and E. F., of &c., and G. H., of &c. [trustees], of the third part, wITNESSETH, that, in consideration of a marriage intended to be shortly From Davidson's Concise Precedents in Conveyancing (1845). + When real estate is desired to be settled upon the children, as the parents shall appoint, and, in default, equally, the best way is to convey the estate to the trustees upon trust to sell and hold the money produced, upon trusts, to be declared by a settlement of even date. For when real estate is settled as in the Precedent in the text, the ordinary provisions for hotchpot and advancement cannot be applied, nor those for maintenance and accumulation conveniently. And it is evident that the effect of a settlement in trust for sale (such sale, during the lives of the tenants for life, to be with their consent), and a declaration that the rents till a sale shall go as the income of the funds would go, is tantamount to the settlement of the real estate in specie, with the ordinary power of sale. The Precedent in the text, however, is given principally to afford an example of a settlement, in pursuance of the new Act, with the omission of the limitations to the trustees to preserve contingent remainders, and partly, also because a settlement of this kind is sometimes insisted on. And as a settlement among the children equally is almost invariably required for small, and not for large properties, it appeared to be more appropriate in this collection of concise Precedents than a strict settlement, with powers of jointuring and charging portions, and the like. To render these latter settlements really effective and useful, they must necessarily be made of considerable length, and as they generally Conveyance. solemnised between the said A. B. and C. D., he the said A. B., with the approbation of the said C. D., DOTH HEREBY GRANT AND CONVEY UNTO the said E. F. and G. H., and their heirs, ALL AND SINGULAR the hereditaments situate in the parish of and Parcels. in the county of delineated in the plan drawn in the margin of these presents, and specified in the schedule hereunder written, TOGETHER with all commons, ways, lights, sewers, General words. watercourses, rights, privileges, easements, com modities and appurtenances whatsoever, to the said hereditaments, or any part thereof, belonging or appertaining, or with the same or any part thereof now or heretofore held, used, or enjoyed, or reputed as part or member thereof, or appurtenant thereto, AND all the estate and interest of the said A. B. and C. D. in and to the said premises, and every part thereof, TO HOLD the said premises UNTO the said E. F. and G. H., and their heirs, TO THE USE of the said A. B. and his heirs, until the said intended marriage AND after the solemnisation thereof, To THE USE of the said A. B. and his assigns, during his life, without impeachment of waste; AND after his death, TO THE USE of the said C. D. and her assigns, during her life, without impeachment of waste; AND after the death of the said C. D., To THE USE of the child, or all or such one or more of the children, Habendum. uses in favour of the husband, wife, and children; comprise considerable properties, their bulk is the less material. Doubtless the ordinary language of the provisions in great settlements may be considerably abridged; but the tendency of the present day is to multiply the provisions themselves to meet the various new difficulties in the working of them which daily occur. The Precedent in the text may, however, readily be converted into a simple strict settlement, by changing the limitation to the children equally into a limitation to the first and other sons successively in tail, with remainder to the first and other daughters successively; the preceding power of appointment being either omitted or retained. The language of the powers will require to be altered, by restraining their exercise after the death of the tenants for life to the minority of a child entitled under the limitations or appointments. These general words should be varied by leaving out "commons,” "lights," &c., or the like, which may not be appropriate to the property conveyed, and adding other words (if any) which may be required. of the said intended marriage, for such estates or estate, and in such manner and form, in every respect, as the said A. B. and C. D. shall, by any deed or deeds, appoint; AND in default of, and until such appointment, and so far as no such appointment shall extend, as the survivor of the said A. B. and C. D. shall, by any deed or deeds, or by will or codicil, appoint; AND in default of, and until such appointment, and so far as no such appointment shall extend, if there shall be only one child of the said intended marriage, TO THE USE of such only child, and the heirs of his or her body; BUT if there shall be more than one child of the said intended marriage, then TO THE USE of all the children of the said intended marriage, and the heirs of their respective bodies, in equal shares, as tenants in common; and if any one or more of the said children shall die without issue, then, as well as to the original share or shares of the child or children so dying as to the share or shares that shall have survived or accrued to such child or children, or to the heirs of his, her, or their body or respective bodies, to the use of the others or other of the said children, and the heirs of their, his, or her respective bodies or body; and, if more than one, in equal shares; AND for default of such issue, TO THE USE of the said A. B., his heirs and assigns, for ever. AND IT IS HEREBY DECLARED, that, after the death of the said A. B. and C. D., so long as any child of the said intended marriage shall be under the age of twenty-one years, the said E. F. and G. H., or the survivor of them, or the executors or administrators of such survivor, shall receive the rents and profits of and manage the said premises; with power to fell timber for repairs, or sale, or otherwise, and to accept surrenders from, and make allowances to, and arrangements with, tenants and others, and with all other powers expedient for the due management thereof; and after deducting the expenses of management, repairs, insurance, and other outgoings [if there be any charge on the premises, add, "and keeping down any annual sum or sums, and the interest on any principal sum or sums charged on the premises"], shall pay, to such of the children of the said intended marriage as shall for and for default of issue to the husband in fee. Provision for the application of the rents and profits during the minorities of the children. APPENDIX. of the time being have attained the age of twenty-one years, his, her, or their share or respective shares of the said net rents and age profits; and shall, out of the share thereof of every or any of the said children who shall for the time being be under the twenty-one years, pay the whole, or such sum or sums as the said trustees or trustee shall think proper, for or towards the maintenance or education of every such minor (either directly, or to his or her guardian or guardians, to be applied by such guardian or guardians, without accounting to the said trustees or trustee), and shall accumulate the residue (if any) of every or any such share of the said rents and profits, in the way of compound interest, by investing the same, and all the resulting income thereof, in their or his names or name, in or upon any of the public stocks or funds of Great Britain, or upon government or real securities in England, Wales, or Ireland, with power to resort to such accumulations respectively at any time or times during the minority of the child from whose share the same respectively shall have arisen, for the maintenance or education of such child; and, subject and without prejudice to the provision for resorting to the said accumulations for maintenance and education as aforesaid, shall hold all the said residue of every or any such share of the said rents and profits, and the stocks, funds, and securities in or upon which the same may be invested, upon such trusts as the same would be held upon if the same were moneys arising from sales under the power of sale hereinafter contained, or stocks, funds, or securities purchased therewith: PROVIDED ALWAYS, that it shall be lawful for the said A. B. during his life, and, after his death, for the said C. D. during her life, and after the death of the said A. B. and C. D., for the said E. F. and G. H., and the survivor of them, and the executors or administrators of such survivor, during the minority of any child of the said intended years marriage, at any time or times, to appoint, by way of lease, all or any of the said hereditaments and premises for any term of absolute, not exceeding twenty-one years, to take effect in possession, so as there be reserved thereon the best yearly rent or rents to be incident to the immediate reversion that can be reasonably Power of leasing, 1 Power of sale and exchange. gotten, without taking any fine, premium, or foregift, or anything in the nature thereof, and so as there be contained in every such appointment a condition of re-entry for non-payment, within a reasonable time to be therein specified, of the rent or rents thereby reserved, and so as the appointee or appointees do execute a counterpart thereof, and be not made dispunishable for waste:* PROVIDED ALSO, that it shall be lawful for the said E. F. and G. H., and the survivor of them, and the execu tors or administrators of such survivor, (hereinafter called the trustees or trustee), at any time or times during the life of the said A. B., with his consent in writing, and, after his death, during the life of the said C. D., with her consent in writing, and, after the death of the said A. B. and C. D., during the minority of any child of the said intended marriage, at the discretion of them the said trustees or trustee (but subject to any lease which may have been granted under the power hereinbefore contained), to dispose of, either by way of sale, or in exchange for other hereditaments in England or Wales, all or any of the said hereditaments and premises upon such terms and under such conditions as the said trustees or trustee shall think fit, with power to buy in or rescind any contract for sale or exchange of all or any of the said premises, and to re-sell or exchange the same without being responsible for any loss which may be occasioned thereby, and to revoke the uses, trusts, and powers then subsisting in or of the hereditaments so sold or disposed of in exchange, and appoint the same to such uses and in such manner as shall be expedient to effect such sale or AND IT IS HEREBY DECLARED, that the Moneys arising under the power of sale and exchange to be laid out in the exchange. said trustees or trustee shall, with such consent, or at such discretion as aforesaid, lay out the money received upon any sale, or for equality of exchange,† *The above is the ordinary power to lease for twenty-one years either houses or lands. But if the property contains stone or minerals, there should be a power to grant mining leases; and if it comprise land likely to be required for building, or houses likely to require repairs, there should be a power to grant leases for building and repairing purposes. (See the forms of such powers, 5 Martin's Conveyancing, pp. 218-221). It is usual to provide that the trustees of the power of sale and exchange |