such manner as they shall in their absolute discretion think fit, REVERSIONARY without being answerable for any loss arising thereby (h)]. PERSONAL ESTATE AND POLICY. No. VI. SETTLEMENT of REVERSIONARY PROPERTY and a POLICY THIS INDENTURE, made the day of BY HUSBAND AND WIFE, LATTER BEING AN INFANT. BETWEEN Parties. A. B., of, &c. (intended husband), of the first part, C. D., of, &c., being an infant of the age of years, or thereabouts (intended wife), of the second part, and E. F., of, &c., G. H., of, &c., and I. K., of, &c. (trustees), of the third part. (Recitals as in last Precedent): NOW THIS INDENTURE WITNESSETH, Agreement that in consideration of the said intended marriage it is hereby that wife's agreed and declared that the one-fifth part or share to which the share in trust said C. D. will upon her said marriage become entitled in reversion expectant as aforesaid of and in the trust moneys and funds held upon or subject to the trusts of the said indenture of settlement of (h) The clause in brackets may be safely dispensed with. See Conveyancing Act, 1881, s. 37. reversionary funds shall be vested in trus tees. settle the wife's property when she is an infant. (i) When the intended wife is an infant, she is incapable of making a Effect of the settlement binding on herself, except with the sanction of the Court husband's under the Infants' Settlement Act. But it is generally desired to avoid covenant to the expense and delay of an application to the Court, and it was therefore usual, before the passing of the Married Women's Property Act, 1882, where the infant's property was personalty in possession or in reversion, to rely on the husband's covenant to settle it. Such a covenant was effectual, except in the event of the property not falling into possession during the coverture, and the wife being the survivor. In the preparation of the last edition of this work, it was considered that the Act of 1882 had rendered a covenant by the husband ineffectual, because under sect. 3 the wife became entitled for her separate use. But it would appear from Effect of such recent decisions that this view is incorrect, and that, by virtue of sect. 19, a covenant not a settlement, or agreement for a settlement, whether made before or since altered by the the Act, and whether before or after marriage, has the same operation and Act of 1882, semble. effect as regards the wife's property as if the Act had not been passed. If so, a covenant by the husband may now be used in all cases where it would have been considered sufficient before the passing of the Act, and will have the same effect. See p. 208, suprà. BY HUSBAND LATTER BEING AN INFANT. the day of shall, when and so soon as the same shall fall into possession, be transferred or paid by the said A. B. and C. D., and all other necessary parties unto, or otherwise vested in, the said E. F., G. H., and I. K. (hereinafter called "the trustees"), to be held by them upon the trusts following, that is to say, UPON TRUST that the trustees shall either retain the same, &c. (the rest of the precedent to be the same as the last Precedent). APPOINTMENT AND SETTLEMENT BY SAME DEED. Parties. Recital of agreement for appointment and settlement. Witnessing part. No. VII. APPOINTMENT by PARENTS to TRUSTEES at the request of the intended WIFE the object of the power, and SETTLEMENT of the appointed money by one and the same deed (k). day of 18—, BE THIS INDENTURE, made the (k) An appointment may be made by the direction of an object of the power to trustees of a settlement on her marriage. Such an appointment is treated, first, as an appointment to the object, and, secondly, a settlement by such object. It is usual to have two deeds; but to save expense the plan of one deed is sometimes adopted. APPOINTMENT MENT BY SAME AND SETTLE DEED. of share to TURE WITNESSETH, that the said M. D. and N., his wife, in exercise, &c. (of power, suprà, p. 280), do hereby, at the request of the said C. D. (testified by her executing these presents), appoint that if the said intended marriage between the said Appointment A. B. and C. D. shall take place within twelve calendar months trustees at the from the date hereof, the trustees for the time being of the request of the object of the herein before recited indenture of settlement shall, upon the power. decease of the survivor of them the said M. D. and N., his wife, pay or transfer one equal fifth part or share of, and in the trust moneys, stocks, funds, and securities for the time being subject to the trusts of the said indenture to the said E. F., G. H., and I. K. (hereinafter called "the trustees"): UPON TRUST that they Declaration of shall require the transfer or payment to them of the said part or share hereby appointed when and so soon, &c. (Trusts to require transfer and to inrest, and subsequent trusts, as in Precedent No. V.). IN WITNESS, &c. trusts. No. VIII. TRANSFER by intended HUSBAND of MORTGAGE DEBT TRANSFER BY INTENDED HUSBAND OF MORTGAGE DEBT TO TRUSTEES OF INTENDED SETTLEMENT. BETWEEN Parties. gage to in husband. 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., G. H., of, &c., and I. K., of, &c. (trustees), of the third part: WHEREAS Recite mortby an indenture, &c. (date and parties), a farm and lands known tended as, situate in the parish of, in the county of the said indenture more particularly described, were conveyed by the said (mortgagor) unto and to the use of the said A. B. in fee simple by way of mortgage to secure payment to him of the sum of £, with interest thereon, which principal sum still INTENDED HUSBAND OF MORTGAGE INTENDED for settlement of mortgage money. Witnessing part. Assignment of and interest to trustees TRANSFER BY remains owing, but all interest for the same has been duly paid up to the last half-yearly day for payment thereof (1). AND WHEREAS a marriage is intended shortly to be solemnized TRUSTEES OF between the said A. B. and C. D.: AND WHEREAS upon the SETTLEMENT. treaty for the said intended marriage it was agreed that the Agreement for said principal sum of £ -, secured by the herein before remarriage and cited indenture, and the interest thereof, and the securities for the same, should be transferred to the said E. F., G. H., and I. K., upon the trusts and in the manner hereinafter expressed: NOW THIS INDENTURE WITNESSETH, that in pursuance of the said agreement, and in consideration of the said mortgage debt intended marriage, the said A. B. as settlor hereby assigns unto the said E. F., G. H., and I. K., the said principal sum of £- secured by the herein before recited indenture, and all interest due and to become due for the same: AND the benefit of all securities for the same: TO HOLD the same unto the said E. F., G. H., and I. K., IN TRUST for the said A. B., until the solemnization of the said intended marriage, AND FROM and after the solemnization thereof, UPON such trusts, and with and trusts of deed subject to such powers and provisions as are expressed and declared of and concerning the same by an indenture already prepared and engrossed, bearing or intended to bear even date with these presents, and made or intended to be made between (parties): AND THIS INDENTURE ALSO WITNESSETHI, that in further pursuance of the said agreement, and in consideration of the said intended marriage, the said A. B. as settlor hereby conveys unto the said E. F., G. H., and I. K., ALL AND SINGULAR the hereditaments and premises comprised in and in trust for husband until marriage. After mar. riage upon of even date. Conveyance by intended husband of (7) Instead of reciting the mortgage deed, the transfer might be described as supplemental to it, thus: "THIS INDENTURE, &c. (date and parties as in the text), and supplemental to an indenture dated, &c., and made, &c., being a mortgage in fee simple of a farm known as, situate in the parish of in the county of, for securing payment to the said A. B. of the sum of £ with interest thereon, which principal sum still remains owing," &c. (as in the text). Little if anything is gained in point of brevity by this plan, and there seems no sufficient reason for using it in preference to a short recital, such as is inserted in the Precedent in the text. conveyed by the hereinbefore recited indenture, or expressed so to be: To HOLD the same unto and to the use of the said E. F., G. H., and I. K., in fee simple, subject to such right or equity of redemption as is now subsisting therein under or by virtue of the said recited indenture (Clause as to appointing new trustees, suprà, p. 271). IN WITNESS, &c. TRANSFER BY INTENDED OF MORTGAGE DEBT TO INTENDED hereditaments to trustees, subject to subsisting equity of redemption. No. IX. TRANSFER by intended WIFE of MORTGAGE DEBT and day of TRANSFER BY INTENDED WIFE OF MORTGAGE DEBT TO TRUSTEES. BETWEEN Parties. mortgage debt as joint THIS INDENTURE, made the the within named C. D. (intended wife), of the first part, A. B., of, &c. (intended husband), of the second part, and E. F., of, &c., G. H., of, &c., and I. K., of, &c. (trustees), of the third part, WITNESSETH, that in consideration of a marriage intended Intended wife shortly to be solemnized between the said A. B. and the said transfers C. D., the said C. D. as settlor hereby assigns, &c. (as in last to trustees Precedent, substituting "the within written indenture" for "the tenants, and hereinbefore recited indenture"): AND THIS INDENTURE mortgaged ALSO WITNESSETH, that for the consideration aforesaid, to them subject the said C. D. as settlor, hereby conveys, &c. (Conveyance of to equity of mortgaged hereditaments to E. F., G. H., and I. K., subject to equity of redemption as in last Precedent, substituting as above). IN WITNESS, &c. conveys hereditaments redemption. |