person, if any, as is empowered to appoint trustees by deed consent to the discharge of the trustee and the vesting in the co-trustees alone of the trust property, such trustee is discharged without a new trustee being appointed in his place (7). The Trustee Act, 1893, in re-enacting the provisions of the Conveyancing Acts with regard to the appointment of new trustees, extended such provisions to the case of a trustee desiring to be discharged from "all or any of the trusts or powers reposed in or conferred on him" (m).

may

On a statutory appointment of new trustees, a separate set be appointed in respect of any part of the trust property held on trusts distinct from those relating to any other part of the trust property, and if only one trustee was originally appointed, then one separate trustee may be appointed (»), and that notwithstanding that no new trustees are to be appointed for other parts of the trust property, and any existing trustee may be appointed or remain one of such separate set of trustees (o).

On the appointment of new trustees under the statutory power, the trust property may, without any conveyance or assignment, be vested in the new and continuing trustees as joint tenants by a declaration in the deed of appointment to the effect that any estate or interest in any land subject to the trust or the right to recover and receive any debt or other chose in action shall so vest (p); and a deed by which a retiring trustee is discharged may contain a like declaration by the retiring and continuing trustees and by the other person, if any, empowered to appoint trustees, and such declaration, without any conveyance or assignment, vests in the continuing trustees as joint tenants the estate, interest or right to which it relates (2).

(1) Conveyancing Act, 1881 (44 & 45 Vict. c. 41), s. 32; Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 11.

(m) Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 10 (1).

(n) Conveyancing Act, 1882 (45 & 46 Vict. c. 39), s. 5; Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 10 (2) (b).

(0) Conveyancing Act, 1892 (55 &

56 Vict. c. 13), s. 6; Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 10 (2) (b).

(p) Conveyancing Act, 1881 (44 & 45 Vict. c. 41), s. 34 (1); Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 12 (1).

(2) Conveyancing Act, 1881 (44 & 45 Vict. c. 41), s. 34 (2); Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 12 (2).

Neither the legal estate or interest in copyhold or customary land, nor land mortgaged to the trustees, nor shares, stocks, or other property transferable only in the books kept. by a company or other body, or in manner directed by Act of Parliament, can be vested by declaration (r).

The statutory powers and provisions relating to the appointment of new trustees and the vesting of the trust property apply also to trustees for the purposes of the Settled Land Acts (8).

The High Court, whenever it is expedient to appoint a new trustee or new trustees, and it is found inexpedient, difficult or impracticable to do so without the assistance of the Court, may make an order for the appointment of a new trustee or new trustees either in substitution for or in addition to any existing trustee or trustees, or although there be no existing trustee (†); and in such case the Court may make an order vesting the land in any such person (u).

The trust property held by a trustee who is convicted of felony does not pass to the administrator of the convict's property (v), nor does that held by a bankrupt trustee pass to his trustee in bankruptcy (x); but the Court may make an order for the appointment of a new trustee in substitution for a trustee who is convicted of felony or is a bankrupt (y), and may make a vesting order vesting the felon's or bankrupt's trust property in the new and continuing trustees (x).

(r) Conveyancing Act, 1881 (44 & 45 Vict. c. 41), s. 34 (3); Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 12 (3).

(s) Settled Land Act, 1890 (53 & 54 Vict. c. 69), s. 17; Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 47 (1).

(t) Trustee Act, 1850 (13 & 14 Vict. c. 60), s. 32; Trustee Act, 1852 (15 & 16 Vict. c. 55), s. 9; Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 25.

(u) Trustee Act, 1850 (13 & 14 Vict. c. 60), s. 34; Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 26 (1).

(v) 4 & 5 Will. 4, c. 23, s. 3; 13

& 14 Vict. c. 60, s. 46; Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 48.

(x) Bankruptcy Act, 1869 (32 & 33 Vict. c. 71), s. 15; Bankruptcy Act, 1883 (46 & 47 Vict. c. 52), s. 44 (1).

(y) Trustee Act, 1850 (13 & 14 Vict. c. 60), s. 32: Trustee Act, 1852 (15 & 16 Vict. c. 55), ss. 8, 9; Bankruptcy Act, 1883 (46 & 47 Vict. c. 52), s. 147; Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 25 (1).

(2) Trustee Act, 1850 (13 & 14 Vict. c. 60), s. 34; Trustee Act, 1852 (15 & 16 Vict. c. 55), ss. 8 and 9 Bankruptcy Act, 1883 (46 & 47 Vict. c. 52), ss. 8, 9; Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 26 (1).

Where a person seised of or entitled in possession to land or to the receipt of its rents and profits, or having the powers of a tenant for life under the Settled Land Acts, is an infant, the powers of a tenant for life may be exercised on his behalf by the trustees of the settlement (a).

Where a sale of settled land is to be made to the tenant for life, or a purchase is to be made from him of land to be made subject to the limitations of the settlement, or an exchange is to be made with him of settled land for any other land, or a partition is to be made with him of land, an undivided share whereof is subject to the limitations of the settlement, the trustees of the settlement stand in the place of and represent the tenant for life whose powers in respect of negotiating and completing the transaction they have in addition to their own powers as trustees (b).

Where a settlement contains powers of sale or other powers similar to those vested in the tenant for life by the Settled Land Acts, the consent of the tenant for life is, notwithstanding anything in the settlement, necessary to the exercise by the trustees of such powers (c); but the consent of one of two or more persons constituting the tenant for life is sufficient (d).

Any land or interest in land which is subject to a trust for sale and for the application of the money to arise from the sale or its income, or the income of the land until sale, or any part of that money or income, for the benefit of one or more persons for life or other limited period, is deemed to be settled land, and the person entitled to the income of the land or interest until sale is deemed to constitute the tenant for life; therefore, such person can, notwithstanding the trust, exercise the powers of a tenant for life under the Settled Land Acts (e); but on the other hand the consent of the tenant for life is not necessary to enable the trustees to

(a) Settled Land Act, 1882 (45 & 46 Vict. c. 38), ss. 2 (10) (1), 59, 60. (b) Settled Land Act, 1890 (53 & 54 Vict. c. 69), s. 12.

(c) Settled Land Act, 1882 (45 &

46 Vict. c. 38), s. 56.

(d) Settled Land Act, 1884 (47 & 48 Vict. c. 18), s. 6 (2), (3).

(e) Settled Land Act, 1882 (45 & 46 Vict. c. 38), s. 63.

sell, unless so provided by the settlement (f). After the 2nd July, 1884, in such a case the tenant for life cannot exercise his powers without the leave of the Court, and after such leave the trustees cannot exercise any power to which the leave extends. The order of the Court giving such leave may be registered against the trustees as a lis pendens under the description of "the trustees for the purposes of the Settled Land Act, 1882," and persons dealing with them are not affected by the order unless so registered (g); consequently, if a purchaser on searching finds no order registered, he may safely accept a title from the trustees.

Where the instrument creating a trust gives a power of sale by the trustees with the consent of the tenant for life, and such tenant for life encumbers or parts with his life estate or becomes bankrupt, the consent of the tenant for life remains necessary; but a good title cannot be made without the concurrence also of persons who have obtained interests by such events (h).

Trustees for sale must carry out the directions contained in the instrument creating the trust, if not illegal. Thus, if the trust be for sale on the death of the tenant for life, they cannot sell during his lifetime (i).

If trust property is sold at a gross undervalue, a breach of trust is committed which affects the title in the hands of the purchaser (k).

The Court will not enforce specific performance of a contract which amounts to a breach of trust (1); but trustees who have purchased property in breach of trust can make a title to a purchaser on a re-sale.

A trust for sale may continue exercisable by trustees without the concurrence of the beneficiaries, even when such beneficiaries are adult and absolutely entitled.

(f) Settled Land Act, 1884 (47 & 48 Vict. c. 18), s. 6 (1), (3).

(g) Ibid. s. 7.

(h) Re Bedingfield and Herring, (1893) 2 Ch. 332; 62 L. J. Ch. 430; 68 L. T. 634; 41 W. R. 413; 3 R. 483. (i) Re Bryant and Barningham, 44

Ch. D. 218; 59 L. J. Ch. 636; 63
L. T. 20; 38 W. R. 469.

(k) Stevens v. Austen, 30 L. J. Q. B. 212; 3 L. T. 810; 7 Jur. (N. S.) 873; 3 E. & E. 685.

(1) Wood v. Richardson, 5 Jur. 623; 4 Beav. 174, at p. 176.

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Where, in a deed or will, there is a limitation of property to one for life, and upon his death upon trust to divide amongst certain persons with power to the trustees to sell, such power of sale may be exercised within a reasonable time after the death of the tenant for life, and after the property has become absolutely vested in possession, provided such appears by the instrument to have been the intention. A power of sale, however, is exercisable after the property has become absolutely vested in possession only if, on the construction of the particular instrument, it appears to be the intention of the settlor or testator that it should be then exercised (m).

Where an action is pending for the execution of a trust, the sanction of the Court to any proposed sale by trustees is necessary (»).

Where a purchaser contracts to purchase property from trustees, he cannot be compelled to accept a conveyance from the tenant for life under the powers of the Settled Land Acts (0).

Where trustees, under an instrument coming into operation after the 31st December, 1881, have a trust for or power of sale in the absence of a contrary intention expressed in the instrument creating the trust or power, they may sell or concur with any person in selling all or part of the property, subject or not to prior charges, by public auction or private contract subject to such conditions as they think fit (p); and trustees for sale under instruments coming into operation prior to the 1st January, 1882, but after the 28th August, 1860, had almost identical powers under Lord Cranworth's Act (g).

The insertion of conditions of an unnecessarily depreciatory nature were formerly a ground of objection to a title through trustees; but since the 24th December, 1888, no sale by a

(m) Biggs v. Peacock, 20 Ch. D. 200; 51 L. J. Ch. 555; 46 L. T. 582; 30 W. R. 605; Re Tweedie and Miles, 27 Ch. D. 315; 54 L. J. Ch. 71; 33 W. R. 133.

(n) Walker v. Smalwood, Amb. 676.

(o) Re Bryant and Barningham, 44 Ch. D. 218; 59 L. J. Ch. 636; 63 L. T. 20; 38 W. R. 469.

(p) Conveyancing Act, 1881 (44 & 45 Vict. c. 41), s. 35; Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 13.

(g) 23 & 24 Vict. c. 145, s. 35.