Settled Land Act 1925

Form No. 4 E+W Subsidiary Vesting Deed on Sale when the Land is Purchased with Capital Money

This Subsidiary Vesting Deed is made [&c.] betweenHenry V. of [&c.] (hereinafter called the Vendor) of the first part, X. of [&c.], Y. of [&c.], and Z. of [&c.] (hereinafter called the trustees) of the second part, and John H. [&c.] (hereinafter called the Purchaser) of the third part.

Whereas the Vendor is entitled for an estate in fee simple in possession free from incumbrances to the hereditaments hereinafter conveyed and has agreed to sell the same to the Purchaser at the price of pounds.

And whereas by a principal vesting deed (hereinafter called the principal deed) dated [&c.], and made [&c.] [Form No. 2], certain hereditaments were vested in the Purchaser Upon the trusts of a trust instrument of even date therewith, and by [endorsements on] the principal deed the trustees were stated to be the trustees of the settlement for the purposes of the Settled Land Act, 1925.

Now this Deed witnesseth as follows:—

1 E+W In consideration of the sum of pounds now paid to the Vendor by the trustees by the direction of the Purchaser (the receipt of which sum the Vendor hereby acknowledges) the Vendor as Beneficial Owner hereby conveys unto the Purchaser All those [&c.].

To hold unto the Purchaser [in fee simple] upon and subject to the same trusts and powers as are declared by the principal deed by reference as aforesaid with respect to the hereditaments therein comprised.

2 and 3 E+W [Same as 2 and 4 in Form No. 2].

In witness [&c.].

Note.—On a purchase of a term of years absolute out of capital money, the term must be conveyed to the tenant for life, if any, of full age, instead of to the trustees of the settlement. If there is a minority the land will be conveyed to the personal representatives or to the Settled Land Act trustees.