Law of Property Act 1925

SPECIMEN No. 2 OF THE TITLE OF THE TRUSTEES OF FRANK SMITHERS TO GREENACRE.RELATING TO UNDIVIDED SHARES.

2nd January 1910.

Mortgage by James Smith of Greenacre to M. Coy., Lid. in fee to secure 1.000l. and interest.

4th February 1910.

Will of James Smith devising Greenacre to his ten children named therein in equal shares and appointing E. to be his executor.

1st March 1910.

Death of James Smith, leaving the ten children surviving.

3rd April 1910.

Probate by E.

4th December 1910.

Assent by E. to the devise to the ten children.

5th January 1911.

Mortgage by one of the sons of his tenth share.

15th April 1911.

Conveyance by one of the daughters on her marriage of a tenth share to trustees on trust for sale, the net proceeds to be held on the trusts of her settlement of even date.

20th May 1911.

Settlement by another of the sons of his tenth share and appointing Settled Land Act trustees.

8th June 1913.

Will of another daughter devising her tenth to her husband and appointing him executor.

20th June 1913.

Death of the testatrix.

4th August 1913.

Probate by her husband.

2nd May 1918.

Death of another son intestate.

30th July 1918.

Letters of administration granted to two of his brothers.

1st January 1926.

The Law of Property Act, 1925, comes into operation and vests Greenacre, subject only to the mortgage of 1910 affecting the entirety (which is converted into a mortgage for a term of three thousand years), in the Public Trustee, pending the appointment of new trustees, on trust for sale.

4th June 1926.

Order of the court (Chancery Division) made on the application of persons entitled to six tenths, appointing M. and N. to be trustees of the trust affecting Greenacre in place of the Public Trustee.

7th May 1927.

Conveyance on sale to Walter Robinson by M. and N., the M. Company, Limited, being paid off out of part of the purchase money, and joining to surrender the three thousand years term.

[NOTE.—The balance of the purchase money is available in the hands of the trustees to answer the claims of the mortgagee and other persons interested in undivided shares.]

4th June 1927.

Will of Walter Robinson devising and bequeathing Greenacre and his residuary real and personal estate to X. and Y. upon trust for his son John Robinson for life with remainder upon trust for his first and other sons successively according to seniority in tail male with remainder upon trust for the same sons in tail general with remainder upon trust for all the daughters of .John Robinson as tenants in common in tail with cross remainders in tail between them in equal shares. Appointment of X. and Y. to be executors and Settled Land Act trustees.

1st December 1927.

Death of testator.

20th April 1928.

Probate by X. and Y.

3rd May 1928.

Assent by X. and Y. vesting the settled land in John Robinson upon the trusts of the will of Walter Robinson, and stating that they are the trustees of the settlement.

14th July 1928.

Will of John Robinson appointing his daughters Mary Robinson and Jane Robinson his executors.

16th March 1930.

Death of John Robinson without having had a son and leaving five daughters.

12th June 1930.

Probate by X. and Y. in regard to the settled land.

25th July 1930.

Assent by X. and Y. to the vesting of the settled land in themselves on trust for sale, the net proceeds to be held on the trusts of the will of Walter Robinson.

7th January 1931.

Conveyance on sale by X. and Y. of Greenacre to Frank Smithers in fee.

8th January 1931.

Equitable charge by Frank Smithers to James Montagu by way of indemnity and agreement to vest Greenacre in a trust corporation on trust for sale to raise the money when the amount is ascertained and for other purposes.

[NOTE.—A mere equitable charge not secured by deposit of documents can be overridden when the land is made subject to a trust for sale without joining the chargee.]

9th January 1932.

Lease by Frank Smithers of part of Greenacre to his wife for life at a rent.

[NOTE.—A lease for life is made to take effect as a demise for a term of ninety years determinable by notice after the death of the lessee by his representatives or by the lessor.]

23rd June 1933.

Conveyance by Frank Smithers, of Greenacre, to a trust corporation on trust for sale subject to the lease. The net proceeds to be held on the trusts of a deed of even date, under which effect is given to the Agreement of 1931.