CHAP. VII.

SEC. III.

When the estate is sub

nual sum in

perpetuity.

"the legatees, as when and in case they shall attain "that age, with interest for maintenance; but if any of "them shall die under twenty-one, In trust, in that

66

case, to raise and pay to the vendor such a sum as "shall be equal to the lapsed legacy, with interest "from the death of the legatee." If it be doubtful, whether the legacies vest before twenty-one, that doubt should be stated, and the parties may agree, that "if

66

any of the legatees shall die under twenty-one, and "that by the rules of equity their legacies shall be "deemed vested interests, the trustees shall, in that "case, out of the purchased premises, raise such sums of money as shall be sufficient to pay the same to the "executors of the legatees so dying, with interest; but "that if the legacies shall be deemed to be lapsed, then "that the trustees shall, out of the purchased premises, "raise and pay to the vendor, so much money as shall "be equivalent to the lapsed legacies, with interest."

If an estate is charged with the payment of an annual ject to the pay. sum in perpetuity,-as for example, to a school, or the ment of an an- poor persons dwelling in a certain township,-and such estate is to be sold in lots, and the annual sum, or other payment, is to he charged on a particular part of the lands, it may be secured, by way of rent-charge, to two or more trustees, who may be directed to pay it to the persons entitled. Where the annual payment is considerable, a term may be limited for the better securing it, and for indemnifying the purchasers of the other parts.

CHAP. VII.

SEC. IV.

SECTION IV.

Of the conveyance of leasehold for lives.

holds for life.

On examining the title to this kind of property, it is Title to leasenecessary to see that the new leases have always, either by deed or by act of law, been surrendered: it will frequently happen that a person, after mortgaging his estate on the dropping of a life, renews the lease in his own name, and that thus two interests are subsisting at the same time, in the same property.

If these two interests, however, are both conveyed to, and united in, the purchaser, the estate in possession will merge in the estate in reversion,-(that is) the interest acquired by the vendor in the new lease,-and the title will then be made good.

title, where the

lost.

It frequently happens, particularly when an estate Mode of has been long in a family, that the owner has no title- making out the deeds to produce, the old leases having been all delivered old leases are up at the time when new ones were granted; in such a case, the title may be made out by copies of leases, to be obtained from the register books of the bishop, &c. by whom they were granted.

Entails in leasehold lands may be barred, by a fine Mode of barsur concessit,-by alienation by deed, (that is) by con- leaseholds for ring entails of veyance and reconveyance, (for, perhaps, a conveyance life.

to the use of the owner would not be sufficient),—or even by tenant in tail surrendering the old lease, and taking

a new one.

As leaseholds for lives, when intended to be entailed, ought always to be vested in trustees, In trust to raise

CHAP. VII.

SEC. IV.

and pay the rents, and renew the lease, &c., if the tenant in tail, on attaining twenty-one, wish to bar the entail, he may execute a conveyance to a trustee of his equitable estate, and may take a reconveyance to himself from the trustees; but if a fine sur concessit be thought more advisable, the tenant in tail must convey to a trustee, "To the use of himself for and during the "natural lives, &c.," and covenant to levy a fine, and the intention of barring the entail may be expressed, both in the conveying part of the deed, and in the covenant to levy the fine. After the conveyance, and the reconveyance, have been executed, or (in case the other mode be adopted) after the conveyance " To the use of "the tenant in tail" has been executed, and the fine levied, he may call upon the trustee, in whom the legal freehold is vested, for a conveyance thereof to himself for the lives named in the subsisting lease, in the same manner as the tenant in tail of an equitable estate of inheritance may, after suffering a recovery, call upon the trustee of the legal estate to convey to him in fee. Although recitals are not, in general, necessary deeds to lead the uses of fines and recoveries of lands of uses of fines of inheritance,-because as well the entail last created, as all former entails, (if any be existing,) are intended to be barred,—yet, in respect to leaseholds for lives, it is necessary, on account of the limited interest to be conveyed, to recite or refer to the lease subsisting, when the deed or will creating the entail was executed, and to recite such deed or will; and if the lease has been since renewed, the new lease must be also recited, and notice must be taken that it was granted to the trustee," upon "the trusts declared by the deed (or will) creating the " entail;" after which notice may be taken that the

Recitals neces

sary in deeds to lead the

leasehold for lives.

tenant in tail has attained the age of twenty-one years; and then the Indenture witnesseth, "that for the bar<6 ring and extinguishing all estates tail, and remainders, "&c. created or limited by the said recited indenture 66 (or will,") the tenant in tail conveys to a trustee, habendum (if a fine sur concessit is not intended to be levied) "to the trustee, his heirs, and assigns, for and during, &c." without any declaration of trust in favour of tenant in tail; and by a deed, dated the next day, with the same recitals as in the former deed, followed by a statement of its contents, and a recital afterwards, “that "that deed, and the conveyance thereby made, were so "made to and in the name of the trustee, in trust for "the tenant in tail." The trustee, "in execution and performance of the trust reposed in him," must convey to his cestui que trust for the existing lives, and the trustee must covenant that he has done no act to encumber.

CHAP. VII.

SEC. IV.

leasehold for

lives.

In conveying leaseholds for lives, the subsisting lease Conveyance of must be recited; and if it has not been made to the vendor, but to a former owner, or to a trustee or mortgagee, some notice must be taken of the intermediate conveyances which derive the property to, and vest it in, the vendor: if all these intermediate conveyances are in the hands of the latter, and can be given up to the purchaser, it may be sufficient to state," that by virtue "of divers conveyances and assignments in the law, the "land comprised in the lease has become vested in the "vendor for and during the natural lives of, &c. and the "life of the longest liver of them; and that he has "contracted to sell the same to the purchaser, for and "during the natural lives of, &c., and for and during all "the other estate, term and interest of the vendor:"

CHAP. VII. these latter words apply to the renewable interest or

SEC. IV.

Form of the

deed, where

is from a devisee.

tenant-right.

66

Where the conveyance is to be taken from a devisee the conveyance who has renewed the lease in his own name (particularly in a small purchase) the formal recital of the subsisting lease at the testator's death may be omitted, and it may be stated, "that the testator being seised of, or entitled "to, the lands after described and mentioned to be conveyed by virtue of or under a lease, bearing date, &c. to "him thereof, granted by, &c. made, and duly executed "his last will, &c.," after stating the contents of which, the subsisting lease may be recited. For the acceptance of a lease for three lives, (whether the two old lives remain in it or not,) by the person who had the former interest, is equally a surrender of the former interest, as the acceptance of a lease for a longer term to begin immediately is a surrender in law of the former interest. But it is usual for bishops and ecclesiastical corporations to take a surrender by deed, on the renewal of a lease for lives, though not so on the renewal of a lease for years.

Effect of a renewal after a will made.

If lessee for lives devise his estate, and afterwards renew the lease, it is considered as a new purchase, and does not pass by the will; but if the leasehold lands be devised in general terms, they will pass by a republication of the will; the safest way, however, is to make a will, reciting the new lease, and to devise the lands to the trustees in the will upon the trusts declared by it. The premises must be conveyed by the same words as words and parcels in the con- lands held in fee simple, and the parcels may be described either by a reference to the recited lease, or the description therein may be repeated, according to circumstances, but it must be closely adhered to. The habendum must be to the purchaser, "his heirs and assigns, for and

Operative

veyance of

leaseholds.