OF SETTLEMENT IN THE

PLACE OF

DECEASED AND
RETIRING
TRUSTEES.

Parties.

No. I.

APPOINTMENT of Two NEW TRUSTEES of a SETTLE-
MENT of PERSONALTY in the place of a DECEASED
TRUSTEE and of a RETIRING TRUSTEE respectively;
where the TRUST FUNDS consist of STOCK and MONEY
INVESTED ON MORTGAGE of Real Estate and RAILWAY
STOCK (a).

(A.) Where the settlement is recited.

THIS INDENTURE, made the- day of

BETWEEN

A. B., of, &c., and C. his wife (settlor and wife), of the first part; G. H., of, &c. (retiring trustee), of the second part; and L. M., of, &c., and N. O. of, &c. (new trustees), of the third part: 18-,

Recite settle. WHEREAS by an indenture dated the

ment.

Death of one trustee, and that another

desires to be discharged.

day of

and made on the marriage of the said A. B. and C. B., between the said A. B., of the first part, the said C. B., then C. D., of the second part, and E. F., the said G. H., and I. K., of the third part, of which indenture the said E. F., G. H., and I. K., were the trustees, a sum of £ - consolidated £3 per cent. annuities was settled upon trusts for the benefit of the said A. B. and C. B. and their issue: AND by the said indenture it was declared that the power of appointing new trustees conferred by statute should for the purposes of the said indenture be vested in the said A. B. and C. D. during their joint lives: [If the power is not given by reference to the statute it may be recited thus: AND a power was thereby given to the said A. B. and C. B. to appoint a new trustee or new trustees in the place of trustee dying or desiring to be discharged from the trusts of the said indenture:] AND WHEREAS the said I. K. died on the day of AND WHEREAS the said G. H. is desirous of being

any

(a) This and some of the subsequent precedents are framed with variations, adapted to each of the following plans, viz.-(A.) Where the appointment is by a separate deed reciting the settlement; (B.) Where it is by a deed expressed to be supplemental to the settlement in accordance with sect. 53 of the Conveyancing Act, 1881; and (C.) Where it is indorsed on the settlement.

which "

OF SETTLEMENT IN THE PLACE OF DECEASED AND RETIRING

TRUSTEES.

funds.

discharged from the trusts of the said indenture of settlement as he doth hereby declare: AND WHEREAS the sum of £consolidated £3 per cent. annuities, part of the stock settled by the said indenture, was some time since sold by the trustees, and the money produced by such sale was invested as to £ part State of trust thereof on mortgage of hereditaments situate at mortgage was effected by an indenture dated, &c. (date and parties), and as to the residue thereof, in the purchase of £ preference stock of the Railway Company: NOW THIS INDENTURE WITNESSETH, that the said A. B. and C. his wife, in exercise of the power for this purpose conferred by the Conveyancing and Law of Property Act, 1881, [or, if the power is given by the settlement without reference to the statute, in exercise of the power for this purpose contained in the said indenture of settlement], and of all other powers (if any) them hereunto enabling, hereby appoint the said L. M. and N. O. to Appointment be trustees of the said indenture of settlement in the place of trustees, and the said I. K. deceased, and G. H. respectively, and direct that trust funds the said trust funds shall be forthwith transferred (b), so as to shall be vest in the said E. F., L. M., and N. O., as joint tenants, to be accordingly. held by them upon the trusts now affecting the same under the said indenture of settlement.

IN WITNESS, &c.

(B.) Where the deed of appointment is expressed to be supplemental

to the settlement.

of new

direction that

transferred

THIS INDENTURE, made, &c. (date and parties), and supple- By supplemental to an indenture dated, &c., and made on the marriage of mental deed. the said A. B. and C. B., between, &c. (parties), being a settlement of a sum of £- consolidated £3 per cent. annuities, upon trusts for the benefit of the said A. B. and C. B. and their issue, and of which indenture the said E. F., G. H., and I. K. were the trustees: WHEREAS the said I. K. died, &c. (the rest to be the same as (A.)).

(b) It will be observed, that in this case the trust funds, being stock in the funds, railway stock, and a mortgage, cannot be made to vest in the new trustees by a declaration under sect. 34 of the Conveyancing Act, 1881, but must be separately transferred. For the proper form of a transfer of mortgage on a change of one of several trustees, see Vol. I., "Mortgages."

OF SETTLEMENT IN THE

PLACE OF

RETIRING

TRUSTEES.

Or,

DECEASED AND THIS INDENTURE (c), made, &c. (date and parties as above), and supplemental to the above written indenture of settlement, dated the day of 18 -: WHEREAS I. K., one of the trustees of the said indenture of settlement, died on the day of - 18, leaving his co-trustees E. F. and the said G. H.

By deed

written at the end of the

settlement.

By indorsement.

him surviving: AND WHEREAS the sum of £ consolidated £3 per cent. annuities, &c. (the rest to be the same as (A.) ).

(C.) By deed indorsed on the settlement.

day of

18-,

THIS INDENTURE, made the
BETWEEN the within named A. B. and C. his wife, formerly
C. D. (settlor and wife), of the first part; the within named G. H.
(retiring trustee) of the second part; and L. M., of, &c., and
N. O., of &c. (new trustees), of the third part: WHEREAS
the within named I. K. died on the
day of, 18-,
leaving the within named E. F. and the said G. H. his co-trus-
tees him surviving: AND WHEREAS the said G. H. is desirous
of being discharged from the trusts of the within written
indenture as he doth hereby declare: (The rest to be the same as
(A.), substituting "the within written indenture" for "the said
indenture of settlement.")

(c) This will be used where the appointment is written at the end of the settlement, there being a space left for that purpose. If, as is sometimes done, the appointment is engrossed on a separate parchment, and attached to the settlement after execution, the settlement must be recited or referred to sufficiently for identification, just as if there were no annexation.

No. II.

MENT OF

APPOINTMENT of NEW TRUSTEES of a SETTLEMENT of OF SETTLEREVERSIONARY PROPERTY in the place of a DECEASED REVERSIONARY and a RETIRING TRUSTEE.

PROPERTY.

(A.)

and

settlement of

interest and

policy.

THIS INDENTURE, made, &c. (date and parties, as in Recital of Precedent No. I.): WHEREAS by an indenture, dated, &c., and reversionary made, &c. (as in Precedent No. I. ), of which indenture the said E. F., G. H., and I. K., were the trustees, the reversionary share of the said C. B. expectant on the decease of her father and mother in certain trust funds therein mentioned or referred to, and a policy of assurance on the life of the said A. B. for the sum of £, effected with the Assurance Society, and the moneys thereby assured were settled upon trusts for the benefit of the said A. B. and C. D. and their issue: AND, &c. (power to appoint new trustees): AND WHEREAS, &c. (death of I. K., and that G. H. is desirous of retiring, suprà, p. 621): Now, &c. (Appointment of new trustees, Witnessing as in Precedent No. I., suprà, p. 621, omitting the direction to part. transfer the trust funds): AND the said A. B. and C. his wife Appointment hereby declare that the right to recover and receive the said trustees, and vesting reversionary share and policy moneys settled by the said inden- declaration. ture shall henceforth vest in the said E. F., L. M., and N. O., as joint tenants upon the trusts affecting the same under the said indenture.

IN WITNESS, &c.

(B.)

mental deed.

THIS INDENTURE, made, &c. (date and parties), and sup- By suppleplemental to an indenture, dated, &c., and made on the marriage of the said A. B. and C. B., between, &c. (parties), being a settlement of the reversionary share of the said C. B. in certain trust funds therein mentioned, and a policy of assurance on the life of the said A. B. for the sum of £- effected with the

OF SETTLE

MENT OF REVERSIONARY

PROPERTY.

By deed

written at end

of settlement.

Assurance Society, upon trusts for the benefit of the said A. B. and C. B. and their issue, of which indenture the said E. F., G. H., and I. K. were the trustees: WHEREAS the said I. K. died, &c. (Rest the same as (A.) ).

day of

Or,

THIS INDENTURE, made, &c. (date and parties), and sup-
plemental to the above written indenture of settlement, dated
the
18-: WHEREAS I. K., one of the trustees
named in the said indenture of settlement, died on the
day of
-, 18-, leaving his co-trustees E. F., and the said
G. H., him surviving: AND WHEREAS, &c. (Rest to be the same
as (A.), omitting "said" before "reversionary share" in the vesting
declaration.)

(C.)

By indorsement. Vesting declaration.

THIS INDENTURE, made, &c. (date and parties, recitals of death of I. K. and that G. H. is desirous of retiring, as in Precedent No. I. (C.)). NOW THIS INDENTURE WITNESSETH, that, &c. (Appointment of new trustees, as in Precedent No. I. (C.), omitting the direction to transfer trust funds) AND the said A. B. and C. his wife hereby declare that the right to recover and receive the reversionary share of trust funds and policy moneys settled by the within written indenture shall henceforth vest in the said E. F., L. M., and N. O., as joint tenants upon the trusts affecting the same under the within written indenture.

IN WITNESS, &c.