Covenant against incumbrances. TO HOLD the said messuages and lands, and all and singular other the hereditaments and premises hereby granted and released, or expressed and intended so to be, with their and every of their ap purtenances, unto the said [releasee] and his heirs: To the only use and behoof of the said C. Crow, his heirs and assigns for ever, freed and absolutely discharged of and from all estates tail, and all remainders and reversions expectant or depending thereupon, and all collateral limitations thereunto annexed, and all the trusts, estates, and interests created, limited or declared, or directed to be created, limited or declared, in and by the said herein before recited indentures of release, or either of them: AND the said J. Daw doth hereby for himself, his heirs, executors and administrators, covenant and declare with and to the said [releasee], his heirs and assigns, that he the said J. Daw hath not at any time heretofore made, done, committed or executed, or knowingly or willingly permitted or suffered, or been party or privy to any act, deed, matter or thing whatsoever, whereby or by reason or means whereof the said messuages, lands and other hereditaments hereby granted and released, or expressed and intended so to be, or any of them, or any part thereof, are, is, can, shall or may be impeached, charged, affected or incumbered in title, estate or otherwise howsoever. Is WITNESS, &c. (b) (b) This deed must be inrolled in Chancery within six calendar months after its execution. (See ante, s. 71, p. 374.) Parties. Recital of will giving the residue of personal estates to trustees to be invested in purchase of lands, to be limited in strict settle ment. No. XVIII. day of ASSIGNMENT of Stock, subject to be invested in the Purchase of tors and assigns of such survivor, should by and with the same pay his (the said testator's) debts, legacies, funeral and testamentary expenses: And the said testator directed that the said [trustees] or the survivor of them, or the executors, administrators or assigns of such survivor, should lay out and invest all the ultimate residue and surplus of his (the said testator's) personal estate, which should remain after payment of his debts, legacies, funeral and testamentary expenses, in the purchase of freehold manors, messuages, lands or hereditaments, to be situate in the said county of Essex, with such copyhold messuages, lands, tenements or hereditaments, as might be contiguous thereto, or be convenient to be held therewith; And the said testator directed that the said [trustees], or the survivor of them, or the executors, administrators or assigns of such survivor, should convey, settle and assure, or cause to be conveyed, settled and assured, the real estate which should be so purchased, to such and the same uses, upon and for such and the same trusts, intents and purposes, and with, under, and subject to such and the same powers, provisoes, limitations and declarations, as in and by his said will were declared or expressed of and concerning the hereditaments thereby devised as aforesaid, and which should be then subsisting undetermined or capable of taking effect, or as near thereto as the deaths of parties and other contingencies would then admit; And the said testator further declared his will to be, that until the money directed to be invested in the purchase of real estate as aforesaid should be invested in a purchase or purchases as therein before directed, it should be lawful for the said [trustees], and the survivor of them, and the executors, administrators and assigns of such survivor, to place out and invest such money at interest in the public funds, or in or upon government or real securities, in their or his names or name, and to alter and transpose such securities or funds as often as to them or him should seem meet, and that the dividends, interest and annual proceeds of such stocks, funds or securities should go and be payable and applicable to and for such uses, intents and purposes, as the rents and profits of the estates to be purchased therewith respectively would go and be payable and applicable, in case such purchase or purchases and settlement as aforesaid were then actually made; AND WHEREAS Testator's the said [testator] departed this life on or about the day of death, and without having altered or revoked his said will, which was his will. duly proved by the said [trustees], the executors therein named, on the day of, in the Prerogative Court of the Archbishop of Canterbury: AND WHEREAS after payment and satisfaction of That surplus all the debts, legacies, funeral and testamentary expenses of the of testator's said [testator], the sum of £ remained in the hands of the mained after said [trustees], subject to be invested in the purchase of real estates, payment of pursuant to the directions for that purpose contained in the said recited will; AND WHEREAS the said [trustees] did not lay out and Surplus of invest the said sum of £, or any part thereof, in the purchase personalty of lands, pursuant to the directions contained in the said recited invested in will, but the same sum was, on or about the day of invested by the said [trustees], in their names, in the purchase of the sum of 10,000l., three per cent. consolidated bank annuities, which is now standing in their names in the books of the governor and company of the Bank of England, subject to the trusts of the said recited will; AND WHEREAS the said W. Evans would be Interests of 3 c 5 probate of estate re debts, &c. testator's funds. parties. stock from trusts. to accept sum in satisfaction of his interests. TESTATUM. Tenant for life and re assign the stock to a trustee. tenant for life of the lands and hereditaments, by the said will directed to be purchased and settled as aforesaid, if such purchase and settlement were made, and in such case the said E. Evans would be tenant in tail in remainder expectant on the decease of the said W. Evans, of and in the same lands and hereditaments; Agreement AND WHEREAS the said W. Evans and E. Evans have agreed to to discharge concur in these presents for the purpose of discharging the said sum of 10,000l. three per cent. consolidated bank annuities, from the trusts of the said recited will, in manner hereinafter mentioned: Agreement of AND WHEREAS the life estate or interest of the said W. Evans, of tenant for life and in the dividends of the said sum of 10,000l. three per cent. consolidated bank annuities, has been valued at the sum of 2,0001. like annuities, which the said W. Evans has agreed to accept in full satisfaction of all his interest or estate in the said first-mentioned sum, or any other stocks, funds or securities, in or upon which the same may be invested, or in any lands or hereditaments directed to be purchased therewith respectively: NoW THIS INDENTURE WITNESSETH (a), that in order to discharge the said sum of mainderman 10,000l. three per cent. consolidated bank annuities, or any stocks, funds or securities, in or upon which the same may be invested, from the trusts declared by the said recited will, and for defeating all estates tail directed to be limited or created in the lands thereby directed to be purchased as aforesaid, and all remainders, reversions, estates, rights, interests and powers, to take effect after the determination or in defeasance of such estates tail, and to the intent that the said W. Evans and E. Evans may acquire the absolute interest in and power of disposition over the same sum, and also in consideration of the sum of 5s. of lawful money of Great Britain to each of them the said W. Evans and E. Evans paid by the said A. B. at or before the sealing and delivery of these presents, the several receipts whereof are hereby acknowledged, the said W. Evans, according to his interest in the premises hereinafter assigned, and the said E. Evans, under and by virtue and in pursuance of the power or provision for that purpose given by or contained in an act of parliament passed in the session of parliament held in the third and fourth years of the reign of his late majesty King William the Fourth, intituled "An Act for the Abolition of Fines and Recoveries, and for the substitution of more simple Modes of Assurance;" and with the consent and approbation of the said W. Evans, testified by his being a party to and sealing and delivering these presents, HAVE, and each of them HATH, bargained, sold, assigned, transferred and set over, and by these presents Do, and each of them DоTH, bargain, sell, assign, transfer and set over, unto the said A. B., his executors, administrators and assigns, ALL THAT the said sum of 10,000l. three per cent. consolidated bank annuities, now standing in the names of the said [trustees] in the (a) It will be observed, that the act of parliament requires a disposition of this kind to be effected by an assignment, otherwise it might probably have been considered sufficient for the tenant for life and remainderman to have declared by deed to be inrolled, that the stock should be discharged from the trusts of the will, and that the trustees should transfer, or stand possessed of the stock, to such persons, or upon such trusts, as the interested parties directed, without the formality of an assignment to a third party. books of the Governor and Company of the Bank of England as aforesaid, and the stocks, funds and securities in or upon which the same shall be laid out or invested, and the interest, dividends, and annual proceeds now due or hereafter to become due in respect of the same; and also all other the stocks, funds, trust monies and securities now vested in or standing in the names of the said [trustees], the produce of which, under the trusts of the said recited will of the said [testutor], is subject, or, in case these presents had not been executed, would have been subject to be laid out and invested in the purchase of lands to be settled as aforesaid; And all the right, title, interest, property, claim and demand whatsoever of them the said W. Evans and E. Evans, and each of them, of, in, to, from or out of the stocks, funds, securities and premises hereby assigned, or expressed and intended so to be, and every part thereof, TO HAVE, HOLD, RECEIVE, TAKE AND ENJOY the HABENDUM stocks, funds and securities, and all and singular other the premises hereby assigned, or expressed and intended so to be, unto and by the said A. B., his executors, administrators and assigns, to the intent and purpose that the same may be freed and absolutely discharged of and from all the trusts, directions, powers and authorities in and by the said recited will of the said [testator] expressed, declared, and contained of and concerning the clear residuary personal estate of the said [testator], and also of and from all estates tail and other interests whatsoever to which the lands directed to be purchased and settled as aforesaid would have been subject, in case such purchase and settlement as aforesaid had been actually made and executed (b): AND it is hereby declared and Declaration agreed by and between the parties to these presents, that the of trust of said A. B., his executors, administrators and assigns, and also the said [trustees], and their respective executors, administrators and assigns, shall henceforth stand and be possessed of and interested in all and singular the stocks, funds, securities and other premises hereby assigned, or expressed and intended so to be, and every part thereof, UPON TRUST for such person or persons, and for such intents and purposes as the said W. Evans and E. Evans shall by any writing or writings under their hands jointly direct or appoint; and in default of such direction or appointment, THEN AS TO AND CONCERNING 2,000l. three per cent. consolidated bank annuities, part of the said sum of 10,000l. like annuities, and the interest, dividends and annual proceeds henceforth to become due in respect of the said sum of 2,000l. like annuities, IN TRUST for the absolute use and benefit of the said W. Evans, his executors, administrators and assigns, and to be transferred as he or they shall direct, in full satisfaction for the estate or interest of the said W. Evans of and in the said trust monies, stocks, funds and securities, or in the lands and hereditaments by the said recited will directed to be purchased therewith as aforesaid: AND AS TO AND CONCERNING the sum of 8,000l. three per cent. consolidated bank annuities (residue of the said sum of 10,000l. like annuities), and all dividends henceforth to become due in respect thereof, and all other the premises hereby assigned, or expressed and intended so to be (subject to the said sum of 2,000l. like annuities, and the dividends (b) Where the parties assigning are not to receive the money or stock, the usual power of attorney and of giving discharges should be inserted. the stock. Receipts of parties entitled to be charges. thereof, so to be held in trust for or to be transferred to the said W. Evans as aforesaid), IN TRUST for the said E. Evans, his executors, administrators and assigns, and to be paid or transferred to him or them, or as he or they shall direct. Provided always, and it is hereby agreed and declared between and by the parties to sufficient dis- these presents, that the receipt or receipts in writing of the said W. Evans, his executors, administrators and assigns, for the said sum of 2,000l. three per cent. consolidated bank annuities, and the dividends thereof, or the produce thereof respectively, and the receipt or receipts in writing of the said E. Evans, his executors, administrators and assigns, for the said sum of 8,000/. like annuities, and the dividends thereof, or the produce thereof respectively, shall be respectively good and effectual releases and discharges to the said [trustees], and their respective executors, administrators and assigns, without any further or other direction or authority from the said A. B., his executors, administrators or assigns, and that he and they respectively shall not be answerable or accountable for any misapplication or nonapplication of the said trust monies, stocks and funds, or the dividends thereof, or any part thereof respectively. IN WITNESS, &c. (c). (c) It is apprehended, that after the due execution and inrolment of this deed in Chancery, that the trustees, in whose names the stock is standing, will be justified in transferring it according to the trusts of this deed. If W. Evans or E. Evans have created any incumbrances affecting the fund, of which the trustees have notice, the fund cannot be safely transferred without the consent of the incumbrancers, or providing for their charges. The trustees, on transferring the stock, will be entitled to require the usual release and indemnity from the parties beneficially interested. No. XIX. ASSIGNMENT by Tenant in Tail in Remainder, with the Consent of the Protector of the Settlement, of Funds subject to be laid out in Lands to be entailed, in order that the same may be immediately re-assigned to the Assignor. Declaration that Fund shall be considered a Personal Estate. day of THIS INDENTURE, made the in the year of our Lord 18-, between W. Evans, of &c., esq. [the tenant in tail in remainder] of the first part; E. Evans, of &c. [the protector] of the second part; and [trustee] of the third part: WHEREAS [the same recitals as in No. XVIII. as far as the agreement to discharge stock from trusts]: AND WHEREAS the said W. Evans is desirous of acquiring the absolute beneficial interest in the said sum of 10,000l. 31. per cent. consolidated bank annuities, subject to the estate for life of the said E. Evans therein, who, as the protector of the settlement created by the said recited will, has agreed to consent to the assignment intended to be hereby made in manner hereinafter mentioned: NOW THIS INDENTURE WITNESSETH, that in order to Tenant in tail defeat the estate tail of the said W. Evans, created or directed to assigns stock, be created in the said stocks, funds and securities hereby assigned, or expressed and intended so to be, and all estates, rights, interests TESTATUM. &c. with consent of pro tector. |