tions, companies, &c. payable out of copyhold or customary lands held upon any lease (s. 89).

Should there be any surplus stock arising from sales or mortgages by archbishops, rectors or vicars, it may be applied in purchasing assignments of land tax redeemed (57 Geo. 3, c. 100, s. 17).

But no mines or minerals, or seams or veins of coal, metals or other profits of the like nature, nor any advowson or right of presentation will pass by any conveyance of lands sold by any bishop or ecclesiastical corporation for redeeming land tax, as they must always be reserved (42 Geo. 3, c. 116, s. 80).

Deeds of sale, mortgages or grants by corporations, companies or trustees for charitable or other public purposes, when executed under the authority of the commissioners formerly appointed by the privy council, and now under 1 & 2 Vict. c. 58, of her majesty's commissioners of the treasury, are not liable to stamp duty (s. 81).

Thirdly. Committees and Curators of Lunatics or Idiots, and Guardians or Tutors of Infants, Executors and Administrators, are empowered to sell or mortgage, or convey and grant rent-charges out of any lands, &c. belonging to any such lunatics or idiots, infants, minors, issue unborn, femes covert or incapacitated persons, for the purpose of redeeming any land tax in respect of their estate or interest therein (s. 53).

But all such sales, mortgages or grants will be subject to the same conditions and regulations as are before declared with regard to sales, &c. by individuals (s. 54).

Fourthly. As to Sales and Charges by Patrons of Livings. Where the land tax on the glebe lands, tithes, &c. of any living in the patronage of any college, cathedral church, hall or house of learning, or of any other corpora

tion aggregate, shall be redeemed by or on the behalf of any such college, &c., they may provide for such redemption by sale of any lands belonging to such corporations respectively, or by the grant of a rent-charge out of the livings equivalent to the amount of the land tax redeemed, unless it be declared otherwise at the time of presentation (s. 78). So also any rector entitled to the patronage of any vicarage or perpetual curacy, redeeming the land tax on the glebe lands, tithes, &c. thereof, may provide for such redemption by sale of part of the glebe lands belonging to such rectory; but the incumbent of the rectory, when not holding the vicarage or perpetual curacy, will be entitled to an annual rent-charge out of the vicarage (s. 79) (i).

Corporations, trustees for charitable and other public purposes, and all other persons entitled to the patronage of any living or livings, may contract for the redemption of the land tax charged on the glebe lands, tithes, &c. belonging to any such living or livings, the consideration for which will be so much capital stock in the three per cents. as will yield a dividend equal in amount to the land tax to be redeemed (57 Geo. 3, c. 100, s. 12).

SECTION 3.

As to the Provisions in the Redemption Acts relating to Contracts for Redemption generally.

Besides the enactments in the land tax redemption acts applicable to individuals and to the classes we have enu

(i) By 54 Geo. 3, c. 173, s. 6, it is declared that sales of land belonging to any rectory or vicarage for the purpose of redeeming land tax shall be good, although the lands sold may appear to the commissioners more than necessary for the purpose of redeeming, provided the commissioners shall be satisfied the proposed sale will be beneficial to the rector or vicar making the sale and their

merated in their separate capacities, the following, from their importance and general character, have been considered worthy of a separate notice.

1. Deeds, whereby any sale, mortgage or grant of any rent-charge shall be made under the redemption acts relating to estates in England, must be inrolled within six months after their execution in one of the courts of record at Westminster, or in the courts of the counties palatine of Chester, Lancashire or Durham, or of great sessions in Wales, or be registered in the counties of Middlesex and York, in the manner required by law, or, if in Scotland, in the manner required by the law of Scotland; but if the consideration do not exceed 2007., the register of the deed with the registrar of contracts for redemption will be valid, and proof of the execution of any deed by the commissioners parties thereto will be sufficient evidence that every thing required was duly done (42 Geo. 3, c. 116, ss. 119, 120) (k).

2. Contracts entered into before the passing of the act for the sale or mortgage of, or the grant of, any rent-charge out of any lands, are declared valid to enable the completion of such sales, mortgages or grants (s. 122).

3. Money arising from any sale, mortgage or grant in pursuance of the act, must be paid into the Bank to the account of the commissioners for reduction of the national respective successors, and provided the ordinary shall signify his consent to such sale by writing under his hand; and by 57 Geo. 3, c. 100, s. 17, surplus stock arising from sales or mortgages by archbishops, rectors or vicars, may be applied in purchasing assignments of land tax redeemed.

(k) By 57 Geo. 3, c. 100, s. 24, deeds executed under the acts relating to the redemption of land tax, which were not enrolled, are declared valid if enrolled within twelve calendar months after the passing of that act; and as to any deeds subsequently executed, which might not have been enrolled within the prescribed period, power is given to the commissioners, or any two or more of them, to order them to be enrolled; and by the 25th section of the same act all informal or defective sales or conveyances made before the passing of that act are declared valid, if they shall appear to have been executed under the authority of the then acting commissioners.

debt, and invested in three per cent. Bank annuities, and the cashier's receipt will be a discharge, and the persons whose land tax is redeemed will be exonerated therefrom in the same manner as if they had transferred stock (s. 98); and, with the consent of the commissioners, an agreement may be made with the purchasers of lands in pursuance of the act, that the consideration shall be in three per cent. consols or three per cent. reduced annuities, to be transferred to the commissioners for reducing the national debt instead of money (s. 99).

Where money arising from the sale of lands is not paid into the Bank, but is invested in the 37. per cents., to be transferred to the commissioners for reducing the national debt, they will accept the transfer, and grant a certificate of the amount, on production of which at the Bank a receipt will be given (s. 117). Should there be a surplus of stock after transferring sufficient to redeem the land tax, such surplus from lands in England will be invested in the Bank in the name of the accountant-general in chancery, and applied by order of that court in discharge of debts affecting the lands, or in purchase of other lands, the dividends in the mean time being paid to the person entitled to the lands (s. 100). And in Scotland such surplus will be placed in one of the public banks, by authority of the court of session, who will apply the same in payment of debts affecting the estate, or in the purchase of other lands, and in the mean time place it out at interest for the benefit of the person entitled to the lands (s. 101). But if the surplus does not exceed 2007. stock, it will be transferred to a trustee, without application to either of the courts (s. 102). And where the consideration for lands sold or charged is to be paid in money and does not exceed 500l., it may be paid to the receiver-general (1), or the collector of the place; and any surplus will be paid to a trustee and applied

(1) Now the inspector of taxes, see p. 39, ante.

as in cases where the surplus stock does not exceed 2007. (s. 103).

Surplus arising from any sales, mortgages, &c. may also be applied in purchasing land tax as a fee-farm rent (s. 160).

4. The purchase-money from any lands sold may be agreed to be paid by instalments into the Bank within the same period and on the same days and times as shall be specified in the contract for redemption; but the agreement and the days and times stipulated for the payment of such instalments, and the amount thereof respectively, must be inserted in the deed whereby the lands are conveyed; and after such conveyance the purchaser will be the only party liable for the completion of the contract (s. 105). If the purchase-money is to be paid into the Bank within the year, and at not more than six instalments, the treasury may after payment of the first instalment advance money for the immediate completion of the contract, or agree with any other persons for the advance of such money to the purchaser (s. 106), who must enter into bonds to the crown (which are not liable to stamp duty) for the repayment thereof (s. 107); and persons receiving such advances will have the benefit of the land tax on registering the contract for redemption (s. 112). If default should be made in repayment of any such advances, a certificate may be obtained, which will authorize the issue of an extent without further process (s. 109). Process may also isssue against the lands purchased, and against all other lands and the goods of the purchaser (s. 111).

After payment of the sums advanced with interest, the purchaser's bond will be delivered up; and in case any obligation should have been prosecuted, satisfaction will be entered on the record (s. 110).

The money arising from lands sold for reimbursing any stock, or money laid out in the redemption of any land tax,