SETTLE

MENTS.

MARRIAGE.

Real and
Personal.

(Concise Form.)

daughter and younger sons of the said (intended wife) by
any future husband whom she may happen to marry after
the decease of the said (intended husband) as hereinafter is
mentioned, (that is to say), in case there shall be issue of the
said (intended wife) by any after taken husband, an eldest
or only son and one other child, or one only daughter and
no son, THEN UPON TRUST, that they the said trustees or
trustee do and shall after the decease of the said (intended
wife), by demise, sale, or mortgage of the said premises, or
of a competent part thereof, for all or any part of the said
term of
years, or by such other ways and means as
to the said trustees or trustee shall seem meet, raise and
levy or borrow and take up at interest the sum of £
of lawful money of Great Britain, for the portion of such
one child, not being an eldest or only son as last-mentioned;
and in case there shall be issue of the said (intended wife)
by such after taken husband an eldest or only son and two
other children, or two daughters only and no son, THEN
UPON TRUST, that they the said trustees or trustee do and
shall after the decease of the said (intended wife), by the
ways and means aforesaid, raise and levy, or borrow and
take up at interest the sum of £ of like lawful money,
for the portions of such two children (or other than and
besides an eldest or only son, as the case shall happen);
and in case there shall be issue of the said (intended wife)
by any such after taken husband as aforesaid, an eldest or
only son, and three or more other children, and three or
more daughters only and no son, THEN UPON TRUST, that
they the said trustees or trustee do and shall, after the de-
cease of the said (intended wife), by ways and means afore-
said, levy and raise, or borrow and take up at interest, the
sum of £
of like lawful money, for the portions
of such three or more children, other than or besides an
only son, as the case shall happen. AND it is hereby de-
clared and agreed by and between the said parties hereto,
that the said sum of £
or £
or £
(as the case may be) so to be raised and levied as and for the
portion or portions of such child or children of the said (in-
tended wife) by such after taken husband, (other than and

except an eldest or only son as aforesaid) shall be paid and payable to such only child, or between or among all such children, (other than and except an eldest or only son for the time being as aforesaid) at such time or times, and if more than one," &c. &c. (as husband and wife or survivor shall appoint, or as otherwise agreed, (see ante, p. 332, and post, pp. 549, 560).

Provision for Children of the present Marriage in Case of a second Marriage of the Wife.

SETTLE

MENTS.

MARRIAGE.

Real and Personal. (Concise Form.)

Monies to be applied for main

"PROVIDED ALWAYS, and it is hereby declared and agreed by and between the parties to these presents, that in tenance of chilcase the said (intended wife) shall happen to survive the said dren of present (intended husband), and shall marry after his decease, and marriage, if wife marry again. there shall be any child or children of the said (intended husband), on the body of the said (intended wife) begotten, then living, then that they the said (trustees) and the survivor of them, and the executors, administrators, and assigns of such survivor, do and shall from time to time during the joint lives of the said (intended wife), and of any such child or children, with or out of the interest, dividends, and annual produce of the said several before-mentioned sums, pay for and towards the maintenance, education, and support of such child or children, such yearly sum or sums as hereinafter is mentioned (that is to say) if there be only one child, the yearly sum of £ or if there be two such

,

,

and in

children and no more, the yearly sum of £
case there shall be three or more such children, then the
whole of the said interest, dividends, and annual produce
to be applied for or towards the maintenance and education
of such three or more children, in such manner as the said
trustee and trustees for the time being shall think proper,
the said payments and applications to commence and take
place immediately upon such the after marriage of the said
(intended wife).”

** See other additions and variations, unte, No. II. p. 401, Other variations. et seq.

Marriage Settlement of Leasehold Premises and
Chattel Interests, the Property of the Husband.

Variations where they are the Property of the Wife.
Where they are holden for Lives and renewable.
Where for Years determinable upon Lives.
Where Part of the settled Property is Money in the
Funds and other Personalty, &c. (1).

THIS INDENTURE, of three parts, made the

day of

in the

year of the

Notes and variations.

Leaseholds.

(1) For notes and variations on such parts of the above precedent, to which none are subjoined, see those added to No. II. (ante, p. 281, et seq.)

+ Where a leasehold for years is to be settled, it must be assigned to trustees in trust [if it be a renewable lease out of the rents or by mortgage to renew the same, and subject thereto in trust] for the husband and wife successively, not during their lives absolutely, (because a life estate is supposed in law to be a greater interest than the longest term) but during so many years as they or either of them shall live, and after the death of the survivor, in trust for such son of the marriage as shall first attain the age of twenty-one years, and if there be no son, in trust for daughters, with benefit of survivorship (if more than one) in case of death under twenty-one, as in other cases.

reign, &c. and in the year of our Lord BETWEEN (the intended husband) of, &c.

of

SETTLE

MENTS.

MARRIAGE.

Leaseholds being incapable of being intailed, it is proper to declare that they shall vest in the son who first attains twentyone; for if they were settled in the same words as are used for freehold lands, the whole would vest in the eldest son immediately on his birth, and if he should die under twenty-one, would go to his personal representatives, and not to the other children, unless they should take as next of kin; it being a rule that whenever such an interest becomes vested in chattels or personal estate, as in real property would be an estate tail, all subsequent limitations are void.

Leaseholds.

Where the property consists of money upon mortgage, bond, Money on mortor the like, the securities must be recited in intended settle- gage.

ment; but the mortgage should be transferred to the trustees by a separate deed, with an assignment to them of the mortgage money, who by such deed must be declared to stand possessed thereof upon the trusts of the settlement (and it is usual to add a declaration that their receipt for the principal money and interest shall be sufficient). By this means the trusts are not exposed, and upon payment of the money, the transfer of the mortgage may be delivered up to the owner of the estate. And in the settlement itself the trustees are to be declared to stand possessed of the mortgage monies assigned to them by such separate deed, and of the money due on bond, &c. which (although not the money due on mortgage), must be assigned to them by the settlement, in trust for the husband or wife, his or her executors, &c. until the marriage, and afterwards in trust, either to continue the same on the present securities, or with the consent of the parties to call in and place the same out again on new securities, and to pay the interest to the husband for life; and if the property be the wife's, it is usual to declare, that in case she survive, it shall be in trust for her, and if she die in his lifetime, in trust for the children in the usual manner; or a power of appointment may be and often is reserved to the husband and wife jointly by deed, and the survivor of them by deed or will, to appoint the trust money among their children in such

SETTLE-
MENTS.

MARRIAGE.

Leaseholds.

of

the first part, (the intended wife) of, &c.
the second part, and (the trustees) of, &c.
trustees appointed for the purposes hereinafter
mentioned, of the third part. WHEREAS a mar-
riage hath been agreed upon and is intended to
be shortly had and solemnized between the said

Recital of lease. (intended husband) and (intended wife). AND

day of

which

WHEREAS by an indenture of demise or lease, bear-
ing date on or about the
was in the year

and made or expressed to be made between A. B. (the lessor of the premises) of the one part, and the said (intended hus

Stock.

Husband in business.

shares as they shall think proper; a power is also generally given to the trustees with the consent of husband and wife, or the survivor of them, to lay out the trust money in land, which is, nevertheless, to be deemed as personal estate, for it would be improper to alter the nature of a trust fund, and it is a rule that the acts of trustees shall not alter or vary the interest of the parties. This power to lay out the money in lands, particularly where there are younger children, and where the trusts may be of long duration, is of great use, by way of bettering, as well as securing, the trust funds.

If stock (i. e. bank annuities) be to be settled, as it will not (regularly speaking) pass by an assignment by deed, but only by transfer in the Bank books, the party to whom it belongs enters into a covenant with the trustees so to transfer it: and the trustees are declared to stand possessed thereof upon such and such trusts.

If the husband be in business, he usually has paid to him a part of the wife's money, and covenants to pay an equal or greater sum to the trustees in the settlement, which in that case is settled along with the wife's property upon the children in the way agreed on. The provisions referred to will be found post.