his death with the consent in writing of the said W. during her life (q) and after the death of the survivor at the discretion of the trustees or trustee sell the said hereditaments and premises (?), and shall out of the proceeds of sale pay and retain all the costs and expenses of such sale and shall with such consent or at such discretion as aforesaid invest the residue of such proceeds of sale in their or his names or name in the Public Stocks &c. sce p. 159 (8), with power from time to time to vary all or any of such securities. AND IT IS HEREBY AGREED AND DECLARED that the trustees or trustee shall stand proceeds of sale. possessed of the residue of such proceeds of sale and of the stocks funds and securities upon which the same shall Husband be invested upon the trusts following, that is to say: In trust to pay the income thereof to the said H. during his Wife for life, And after his decease to the said W. during her life, And after the decease of the survivor of the said H. and Children. W. IN TRUST for all or such one or more exclusively of Trusts of for life. life. band. the other or others of the children of the said intended marriage and their issue &c. (set out trusts for children and issue, with hotchpot clause and clause for advancement, see p. 152, and power to apportion, see p. 160). And In default IT IS HEREBY AGREED AND DECLARED that if there shall of children for husbe no child or issue of the said intended marriage who under the aforesaid trusts shall become absolutely entitled to the property hereby settled then and in such case the trustees or trustee shall subject to the aforesaid trusts hold the said proceeds of sale and the stocks funds and securities for the time being representing the same IN TRUST for the is given by the Conveyancing Act, 1881, s. 35; see p. 284. (2) If a life interest in the income until sale is given to the wife after the death of the husband, it would seem that she would then be a tenant for life within the meaning of the Settled Land Act, 1882, see s. 63, and consequently that she could sell and her consent to a sale after the death of her husband would be necessary under s. 56, subs. 2, p. 368. (r) Power to sell by auction, &c., (8) Where the settlement provides for a sale of the property settled it is more convenient to have the trust for reinvestment in securities immediately following the direction for sale. Secus where the property settled is already in stocks and securities, see note (y), p. 152. PRO- Proviso that hu life. said H. his executors administrators and assigns. VIDED ALWAYS and it is hereby agreed and declared that band may it shall be lawful for the said H. during his life to remain remain in possession in possession or in receipt of the rents and profits of the during his said hereditaments and premises or such part thereof as shall remain unsold as if he were legal tenant for life thereof without impeachment of waste, and until the sale of the said hereditaments and premises the rents and profits thereof or of such part thereof as shall remain unsold shall after payment of all rates and taxes expenses of management and other outgoings be paid and applied to the person or persons to whom and in the manner in which the income of the proceeds of sale thereof would for the time being be payable or applicable under the trusts aforesaid. AND IT IS HEREBY DECLARED that until Power of leasing the sale of the said hereditaments and premises it shall be lawful for the trustees or trustee with such consent or at such discretion as aforesaid to lease the whole or any part or parts thereof remaining unsold for any term of years not exceeding twenty-one years to take effect in possession or within six calendar months from the date of the lease at the best yearly rent or rents that can be reasonably obtained without taking anything in the nature of a fine or premium and so that there be contained in every such lease a condition of re-entry for non-payment of rent and so that the lessee execute a counterpart of such lease and thereby covenant for the due payment of the rent. AND IT IS HEREBY DECLARED that the said AppointH. during his life and after his death the said W. during new trusher life shall have the power of appointing new trustees tees. of these presents, And the said B. and C. or other the trustees or trustee for the time being of these presents shall be the trustees thereof for the purposes of the Conveyancing Acts, 1881, 1882, and of the Settled Land Act, 1882, and for all other purposes (t). IN WITNESS &c. (t) See notes to Conveyancing Act, 1881, s. 42, p. 287, and to Settled Land Act, 1882, s. 2, subs. 8, p. 330. ment of upon. Title to leaseholds. Agree ment to settle. LXXXI. SETTLEMENT in contemplation of MARRIAGE of LEASEHOLD THIS INDENTURE made the day of Between W. of &c. widow (intended wife) of the 1st part H. of &c. (intended husband) of the 2nd part and B. Marriage of &c. and C. of &c. (trustees) of the 3rd part, WHEREAS a agreed marriage has been agreed upon and is intended shortly to be solemnized between the said H. and the said W., AND WHEREAS by an Indenture dated &c. (recite W.'s title to the leaseholds, see p. 16), AND WHEREAS in contemplation of the said intended marriage it has been agreed that the said leasehold hereditaments and premises shall be settled in manner hereinafter appearing, NOW THIS INDENTURE WITNESSETH that in consideraAssign- tion of the said intended marriage She the said W. as leaseholds. settlor doth hereby assign Unto the said B. and C. their executors administrators and assigns ALL that dwellinghouse and premises comprised in and demised by the aforesaid Indenture of Lease of the ment of Trusts. Wife for life. day of TO HAVE AND TO HOLD the dwelling-house and premises hereby assigned UNTO the said B. and C. their executors administrators and assigns, IN TRUST for the said W. her executors administrators and assigns until the solemniza tion of the said intended marriage and from and after the solemnization thereof UPON TRUST by and out of the rents and profits of the said dwelling-house and premises to pay the rents reserved by the said Indenture of Lease and observe and perform the covenants therein contained and on the part of the lessee to be observed and performed and subject thereto IN TRUST to pay the said rents and profits of the said dwelling-house and premises to the said (u) See note (p) to Prec. LXXX., p. 169. for life. W. during her life for her sole and separate use [without power of anticipation], and after her decease to the said H. during his life, And after the decease of the survivor of Husband the said H. and W. IN TRUST for such person or persons Then as and in such manner as the said W. shall by any deed or wife shall appoint, deeds or by will appoint, and in default of and subject to any such appointment IN TRUST if the said W. shall survive or for her the said H. for the said W. her executors administrators and assigns, But if she shall die in the lifetime of the said H. then IN TRUST for such person or persons as under or her next of kin, the statutes for the distribution of the effects of intestates excluding would on the decease of the said W. have become entitled husband. thereto if she had died possessed thereof intestate and without having been married, such persons if more than one to take as tenants in common in the shares in which they would in that event have taken under the same statutes. (Powers for the trustees to sell and lease may be Powers of inserted if desired, see pp. 169 and 171, but inasmuch as the married woman will possess these powers under the Settled Land Act, 1882, there does not seem to be any occasion for the insertion of them here where the trusts only last during the lives of the husband and wife). AND Appoint IT IS HEREBY DECLARED that the said W. shall have the power of appointing new trustees of these presents, And tees. the said B. and C. or other the trustees or trustee for the time being of these presents shall be the trustees hereof for the purposes of the Settled Land Act, 1882, and for all other purposes (x). IN WITNESS &c. sale &c. ment of new trus LXXXII. APPOINTMENT by a mother, who has survived her husband, by Deed Poll in EXERCISE of a POWER contained in her marriage settlement, of one third of the funds subject to that settlement to her daughter in contem (x) Sec note to sect. 2, subs. 8, of that Act, p 330. settlement on mar riage of parents. plation of her marriage, and RELEASE by the mother of her LIFE INTEREST in that one third. TO ALL TO WHOM THESE PRESENTS SHALL Recital of COME, W. of &c. widow sends greeting. WHEREAS by an Indenture dated &c. and made between H. of &c. since deceased of the 1st part the said W. of the 2nd part and B. and C. of the 3rd part, being the settlement made in contemplation of the marriage then intended and shortly afterwards solemnized between the said H. and the said W., certain moneys stocks funds and securities therein mentioned were assigned by the said H. and W. respectively unto the said B. and C. their executors administrators and assigns, upon trust to pay the interest dividends and annual income thereof unto the said H. during his life, and after the decease of the said H. to the said W. during her life if she should be then living, and after the decease of the survivor of the said H. and W. in trust for all or such one or more exclusively of the other or others of the children of the then intended marriage and their issue &c. (set out from settlement power of appointment by H. and W. jointly or by survivor), And in default of and subject to any such appointment In trust for all the children of Death of the then intended marriage as therein mentioned, AND husband. WHEREAS the said H. died on the of mar day of without having joined with the said W. in exercising the power of appointment so reserved to them as aforesaid, Children AND WHEREAS there have been three children only of the riage. aforesaid marriage between the said H. and W. viz. D. E. and F. and the said D. has attained the age of twenty-one Intended years, AND WHEREAS a marriage has been agreed upon marriage and is intended shortly to be solemnized between the said daughter. D. and of &c., AND WHEREAS in contemplation of the said intended marriage the said W. has agreed to appoint to the said D. the stocks funds and securities mentioned in the schedule hereto (y), being part of the of a Agreement to appoint share to such daughter: (y) Where it is not intended that the appointor's life interest should be released, but that the share ap pointed should remain in the hands of the trustees of the settlement, the appointment will be of "one equal |