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No. III. be established, or to any money payable for the discharge or redemption 1 W.4, c. 60. thereof, or any share or interest therein ; those relating to dividends,
to interest or other annual produce; those relating to a conveyance, to
thing in the subject or context repugnant to such construction.
to convey such land, in the place of such trustee or mortgagee, to such vey land; person and in such manner as the said lord chancellor shall think
such conveyance shall be as effectual as if the trustee
understanding, and had made and executed the same, or may direct
IV. That where any stock shall be standing in the name of any the committee person who shall be a lunatic, as a trustee or executor, alone or jointly or other person with any other person, or shall continue to be standing in the name of to transfer
a deceased person whose executor shall be lunatic, or shall be otherstocks or funds wise vested in or transferrable by any person who shall be lunatic, for standing in the the benefit of some other person, it shall be lawful for the lord channame of a lunatic trustee,
cellor, intrusted as aforesaid, to direct the committee of the estate of and receive the any such lunatic to transfer or join in transferring such stock to or into dividends. the name of such person and in such manner as the said lord chancellor
shall think proper, and also to order such person appointed as aforesaid
joined in transferring, receiving, and paying, such stock or dividends. Lord chancel- V. That where any such person as aforesaid being lunatic shall not lor, before in- have been found such by inquisition, it shall be lawful for the lord quisition, may chancellor, intrusted as aforesaid, to direct any person whom the said appoint a per- lord chancellor may think proper to appoint for that purpose, in the son to convey place of such last-mentioned lunatic, to convey or join in conveying or transfer.
such land, or to transfer or join in transferring such stock, and receive
(1) See the statute relating to conveyances, &c., by lunatics, post, Part II. Class 6.
exceed seven hundred pounds; and where any sum not exceeding seven No. III. hundred pounds shall be payable to such lunatic, and any such order 1 W. 4, c. 60. shall be made, the lord chancellor, intrusted as aforesaid, shall direct to whom and in what manner the money so payable shall be paid; and every payment made in pursuance of such direction shall effectually discharge the person paying the same from the money which he shall so pay.
Vl. That where any person seised or possessed of any land upon any Infant trustees trust or by way of mortgage shall be under the age of twenty-one years, or mortgagees it shall be lawful for such infant, by the direction of the court of chan- empowered to cery, to convey the same to such person and in such manner as the said convey by the court shall think proper ; and every such conveyance shall be as effec- direction of the tual as if the infant trustee or mortgagee had been, at the time of court of chanmaking or executing the same, of the age of twenty-one years.
cery. VII. That where any person seised or possessed upon any trust or by Infant trustees way of mortgage of any land situated within the duchy of Lancaster, or or mortgagees the counties palatine of Chester, Lancaster, and Durham respectively, of land within or the principality of Wales, shall be under the age of twenty-one years, the jurisdiction it shall be lawful for such infant, by the direction of the court of the of the courts of duchy chamber of Lancaster, the court of exchequer in the county
Lancaster, palatine of Chester, the court of chancery in the county palatine of Chester, DurLancaster, the court of chancery in the county palatine of Durham, and ham, and
Wales. the several courts of great session in Wales respectively, (1) as to premises within the jurisdiction of the same courts respectively, to convey such lands to such person and in such manner as the said courts respectively shall think proper, in like manner as such infant is herein-before empowered to convey the same by the direction of the court of chancery.
VIII. That where any person seised of any land upon any trust shall When trustees be out of the jurisdiction of or not amenable to the process of the court of real estates of chancery, or it shall be uncertain, where there were several trustees, are out of the which of them was the survivor, or it shall be uncertain whether the jurisdiction, or trustee last known to have been seised as aforesaid be living or dead, it is uncertain or, if known to be dead, it shall not be known who is his heir; or if any be alive, or trustee seised as aforesaid, or the heir of any such trustee, shall neglect
who may be or refuse to convey such land for the space of twenty-eight days next the heir, the after a proper deed for making such conveyance shall have been ten- court of chandered for his execution by, or by an agent duly authorized by, any per- cery may apson entitled to require the same; then and in every or any such case it point a person shall be lawful for the said court of chancery to direct any person whom to convey. such court may think proper to appoint for that purpose, in the place of the trustee or heir, to convey such land to such person and in such manner as the said court shall think proper ; and every such conveyance shall be as effectual as if the trustees seised as aforesaid, or his heir, had made and executed the same. IX. That where any person possessed of any land for any term of
When trustees years upon any trust shall be out of the jurisdiction of or not amenable of leasehold to the process of the court of chancery, or it shall be uncertain whether estates are out the trustee last known to have been possessed as aforesaid be living or of the jurisdicdead; or if any trustee possessed as aforesaid, or the executor of any tion, &c. such trustee, shall neglect or refuse to assign or surrender such land for the space of twenty-eight days next after a proper deed for making such assignment or surrender shall have been tendered for his execution by, or by an agent duly authorized by, any person entitled to require the same; then and in every or any such case it shall be lawful for the said court of chancery to direct any person whom such court may think proper to appoint for that purpose, in the place of the trustee or executor, to assign or surrender such land to such person and in such manner as the court shall think proper; and every such assignment or surrender shall be as effectual as if the trustee possessed as aforesaid, or his executor, had made and executed the same.
(1) The palatinate courts of Chester and the courts of great sessions in Wales are abolished by the 1 W. 4, c, 70. See post, Part IV. Class 1.
No. III. X. That where any person in whose name as a trustee or executor 1 W.4, c. 60. (either alone or together with the name of any other person), or in the
name of whose testator, (whether as a trustee or beneficially,) any stock Transfer of
shall be standing, or any other person who shall otherwise have power stocks or funds. to transfer or join with any other person in transferring any stock
to which some other person shall be beneficially entitled, shall be out
the said dividends. (1) (2)
by the lord chancellor intrusted as aforesaid, or by the court of chancourt of chan- céry, or by any other court herein-before mentioned, shall be signified cery, or by the by an order to be made in any cause depending in such court respeclord chancel
tively, or upon petition in the lunacy or matter ; and such person as lor, &c., under the authority of
herein-after is mentioned shall be the petitioner, whether such person this act, to be be or be not under any legal disability; (that is to say,) if the same shall
relate to a conveyance, transfer, receipt, or payment to or in such mantition. ner as may be directed by any person beneficially entitled, then upon
the petition of the person or some or one of the persons beneficially
entitled to such monies, if an infant or lunatic. Lord chancel-;
XII. Provided always nevertheless, and be it further enacted, That lor or court may where, on account of the length of time which shall have elapsed since
made upon pe
(1) Where a decree declared a defendant against whom the bill had been taken pro confesso, to be a trustee of stock for the plaintiff, the court declined to refer it to the master to appoint a person to transfer the stock in the place of the defendant, except upon a petition presented under this statute. Fellowes v. Till, 5 Simons, 319.
(2) A testator gave an annuity to his widow and the residue of his estate to his children. The executors paid the testator's debts and legacies, and purchased stock in their names to answer the annuity, and paid the dividends to the widow. One of the executors went to reside abroad and the other died. Held, that they were trustees of the stock within this act. Ex parte Dover, 5 Simons, 510.
the creation or last declaration of a trust, the title of the person claiming No. III. & conveyance or transfer may appear to require deliberate investigation 1 W. 4, c. 60. in the presence of all parties interested, in order to prevent the vesting of the legal estate in a person who may not really be entitled to the direct a bill to benefit thereof; or if under other circumstances it shall appear to the be filed to estalord chancellor, intrusted as aforesaid, or the court of chancery, or any blish the right. other court herein-before mentioned, not proper to make an order upon petition ; it shall be lawful for such lord chancellor or any such court to direct a bill to be filed to establish the right of the party seeking the conveyance or transfer, and upon the establishment by a decree of such right, by the same decree, or any order in the cause or in the lunacy, or tuth, to direct a conveyance or transfer to be made according to the intent of this act. (1)
XII. That any committee, infant, or other person directed by virtue Committees, inof this act to make or join in making any conveyance or transfer or fants, &c. may receipt or payment, shall and may be compelled, by the order to be ob- be compelled to taind as herein-before is mentioned, to make and execute the same in convey, translike manner as trustees of full age, and of sane mind, memory, and un- fer, &c. derstanding, are compellable to convey, transfer, or receive and pay over the trust estates or funds vested in them respectively.
XIV. That where the person or any of the persons to whom any money Mortgage shall be payable, in or towards the redemption or discharge of any money belongmortgage or incumbrance of which a release or conveyance shall be ob- ing to infants to tained under the powers of this act, shall be an infant, it shall be lawful be paid into the for the person by whom such money shall be payable to pay the same bank, or as the into the Bank of England in the name and with the privity of the
court shall countant general of the court of chancery or of the court of exchequer,
direct. to be placed to his account in trust in any cause then depending in the said court concerning such money, or, if there shall be no such cause, to the credit of such infant, subject to the order and disposition of the said court respectively, or to such person or persons or in such other manner as the said court respectively shall direct; and the said court shall and is hereby empowered to order any money which shall so be paid into court to be invested in the public funds, and to order distribution thereof, or payment of the dividends thereof, as to the said court shall seem reasonable ; and every cashier of the Bank of England who shall receive any such money is hereby required to give to the person paying the same a receipt for such money; and such receipt shall be an effectual discharge for the money therein respectively expressed to have been received.
XV. That every person, being in other respects within the meaning Act to extend of this act, shall be and be deemed to be a trustee within the meaning to trustees of this act, notwithstanding he may have some beneficial estate or having an ininterest in the same subject, or may have some duty as trustee to per
terest, or having form; but in every such case, and in every case of a mortgagee (not
duty to per
form. being a naked trustee), it shall be in the discretion of the said lord chancellor, intrusted as aforesaid, or the said court of chancery, if under the circumstances it shall seem requisite, to direct a bill to be filed to establish the right of the party seeking the conveyance or transfer, and not to make the order for such conveyance or transfer unless by the decree to be made in such cause, or until after such decree shall have been made. XVI. That where any land shall have been contracted to be sold,
tives of vendors and the vendor or any of the vendors shall have departed this life, to be trustees either having received the purchase money for the same or some part within this act, thereof, or not having received any part thereof, and a specific perform- after a decree ance of such contract, either wholly or as far as the same remains to be for specific perexecuted, or as far as the same by reason of the infancy can be execu- formance; and
(1) The statute only applies to a cestui que trust who is named in the instrument upon which his title depends, or to a person who claims directly under a cestui que trust, so named, as real or personal representative, or as assignee. In the matter of Merry, I Mylne & Keen, 677.
No. III. ted, shall have been decreed by the court of chancery in the lifetime of 1 W. 4, c. 60. such vendor or after his decease, and where one person shall have pur
chased an estate in the name of another, but the nominal purchaser
shall, on the face of the conveyance, appear to be the real purchaser, whose names and there shall be no declaration of trust from him, and a decree of the purchases are said court, either before or after the death of such nominal purchaser, made to be
shall have declared such nominal purchaser to be a trustee for the real such trustees.
purchaser, then and in every such case the heir of such vendor, or
the meaning of this act. Tenants for life,
XVII. That where any land shall have been contracted to be sold, &c. of estates and the vendor or any of the vendors shall have departed this life, devised in set- having devised the same in settlement so as to be vested in any person tlement, and for life or other limited interest, with any remainder, limitation, or gift contracted to
over which may not be vested, or may be vested in some person from be sold, may be whom a conveyance of the same cannot be obtained, or by way of exedirected to con
cutory devise, and a specific performance of such contract, either vey, after a de
wholly or so far as the same remained to be executed, shall have been
decreed by the court of chancery, it shall be lawful for the court by
fee simple or other the whole estate contracted to be sold.
tion of a conveyance or transfer by such alleged trustee until after it
fant or lunatic, or out of the jurisdiction or not amenable to the process
of the court of chancery or exchequer, or had refused or neglected as
trustee within the meaning of this act.
(1) Where a mortgagee in fee died intestate as to the mortgaged premises, but having bequeathed her personal estate to B, who presented a petition under this statute praying that some person might be appointed in the place of the mortgagee's heir, who could not be found to convey the premises to him. The court held the act was not intended to apply to such a case, and refused to make any order. In re Stanley, 5 Simons, 320.