OF A WILL IN PLACE OF DISCLAIMING TRUSTEE. Parties. one of trustees. That debts, &c., have been paid. estate. No. XVIII. APPOINTMENT by a CONTINUING TRUSTEE of a NEW TRUSTEE of a WILL of REAL and PERSONAL Estate in the place of a DISCLAIMING TRUSTEE where the Estate has been realized. THIS INDENTURE, made the day of, BETWEEN A. B., of, &c. (continuing trustee), of the one part, and E. F., of, &c. (new trustee), of the other part (Recite will as in last PreceDisclaimer of dent, death of testator and probate by A. B. alone): AND WHEREAS the said C. D. has by a deed poll under his hand and seal, dated the day of disclaimed the office of trustee under the said will: AND WHEREAS the funeral and testamentary expenses of the said testator and his debts (so far as they have been ascertained) and the legacies given by his will have been paid Particulars of and satisfied: AND WHEREAS the real and residuary personal estate of the said testator now consists of or is represented by the particulars mentioned and set forth in the schedule hereto : NOW THIS INDENTURE WITNESSETH, that, &c. (appointment of new trustee, as in last Precedent, suprà, p. 649): AND THIS INDENTURE ALSO WITNESSETH, that the said A. B. as trustee hereby conveys unto the said A. B. and E. F. ALL THE freehold hereditaments described in the first part of the schedule hereto, AND all other (if any) the freehold hereditaments of or to which the said X. Y. was seised or entitled at the time of his decease, and which are now vested in the said A. B. as the continuing trustee of the same will (a): To HOLD the same unto and to the use of the said A. B. and E. F. in fee Continuing simple: AND THIS INDENTURE ALSO WITNESSETH, leaseholds and that the said A. B. as trustee hereby assigns unto the said A. B. other personal and E. F., first, ALL the leasehold hereditaments described in the second part of the schedule hereto, and all other (if any) the leasehold hereditaments of or to which the said testator X. Y. was possessed or entitled at the time of his decease, and which are now vested in the said A. B. as the continuing trustee of Continuing trustee conveys freehold to use of continuing and new trustees. trustee assigns estate (a) If the testator died before 1st January, 1882, and the will contained a devise of trust and mortgage estates to the trustees, add here "other than and except any hereditaments which were vested in the said X. Y. as a trustee or mortgagee." OF A WILL IN PLACE OF TRUSTEE. the same will: AND, secondly, all the furniture and other personal estate mentioned in the fourth part of the schedule hereto, DISCLAIMING and all other (if any) the personal estate of the said testator X. Y. now vested in the said A. B. as such continuing trustee as aforesaid (except the moneys, stocks, funds, and securities mentioned in the third part of the schedule hereto, which are intended to be transferred to the said A. B. and E. F. in the manner mentioned on that behalf in the said third part of the said schedule) To HOLD the premises firstly herein before unto continuing and assigned unto the said A. B. and E. F. for the several terms, new trustees. estates, and interests now subsisting therein respectively: AND TO HOLD the premises secondly herein before assigned unto the said A. B. and E. F. absolutely: AND it is hereby agreed and Declaration of declared that the said A. B. and E. F. shall stand seised and possessed of all the said freehold and leasehold hereditaments. and personal estate hereby conveyed and assigned respectively, and also the moneys, stocks, funds, and securities mentioned in the third part of the schedule hereto, and the rents, profits, and income thereof respectively, upon the trusts and with and subject to the powers and provisions by and in the said will declared and contained concerning the same respectively, or such of them as are now subsisting and capable of taking effect. IN WITNESS, &c. trust. 1. A sum of £, Consolidated £3 per Cent. Annuities, standing in the name of the said testator. It is intended that No. 1 shall be transferred into the names of the said A. B. and E. F., and that No. 2 and the security for the same shall be assigned unto the said A. B. and E. F. by an indenture already prepared and indorsed on the said indenture of mortgage, and that No. 3 shall be also forthwith transferred to them by a deed already prepared for that purpose. The Fourth Part. The furniture in and about, &c. (Other Particulars.) DISENTAILING ASSURANCES. in possession A TENANT in tail in possession of freehold land may, Powers of a under the Fines and Recoveries Abolition Act (a), dis- tenant in tail pose of the fee simple or any less estate by a deed or remainder. enrolled in the Chancery Division of the High Court of Justice (b); but if the estate tail is preceded by an estate for years determinable on the dropping of a life or lives, or any greater estate (not being an estate for years), created by the same settlement, the tenant in tail, unless he is also tenant in fee simple in remainder expectant on his own estate tail, cannot, without the consent of the person called by the Act "the protector of the settlement" (c), create any larger estate than a base fee, i.e., an estate which will be a complete bar to the issue, but not to those in remainder or reversion, and during the continuance of such issue will devolve or be disposable of by him as a fee simple. A tenant in tail who has created a base fee may Enlargement convert such base fee into a fee simple by another of base fee. enrolled deed, so soon as there ceases to be a protector of the settlement (d), or during the protectorship with the protector's consent. And if the owner of a base fee becomes entitled to the immediate reversion in fee simple, the estate is enlarged ipso facto (e). The general rule laid down by the Act as to protectors is, that where there is a tenant in tail under a settlement, and there is subsisting under the same settlement any estate for years determinable on the dropping of a life or lives, or any greater estate (not being an estate for years), prior to the estate tail, then the owner of the prior estate, or the first of such prior estates, if more than one, then subsisting under the same settlement, or the person who would have been so if no absolute disposition thereof had been made a) 3 & 4 Will. 4, c. 74, s. 15. Sect. 41. A tenant in tail may exercise the powers of sale, leasing, &c., conferred by the Settled Land Act, 1882, without having the (c) Sect. 34. (e) Sect. 39. General rule person who as to the shall be protector. Power to settlor to appoint a protector. Office of protector survives, and protectors die, tenant for life if all appointed is protector. Lunatic protector. Consent of protector, how given. (the first of such prior estates, if more than one, being for all the purposes of the Act deemed the prior estate), is the protector of the settlement, and is to be deemed the owner of such prior estate, although the prior estate may have been charged by the owner thereof, or by the settlor, or otherwise howsoever, and although the whole of the rents and profits be required for the payment of the charges thereon, and although such prior estate may have been absolutely disposed of by the owner thereof, or by or in consequence of the bankruptcy or insolvency of such owner, or by any other act or default of such owner, and that an estate by the curtesy in respect of the estate tail, or of any prior estate created by the same settlement, is to be deemed a prior estate under the same settlement, and that an estate by way of resulting use or trust, to or for the settlor, is also to be deemed an estate under the same settlement (f). The settlor may appoint any person, or number of persons, not exceeding three, to be protector or protectors in lieu of the person who would have been the protector if there had been no such appointment (g). If two or three protectors are appointed, the office passes to the survivors and survivor (h); and if all the protectors die, and the settlement contains no power to perpetuate the protectorship, or, there being such a power, it is not exercised, the tenant for life becomes protector (i). Where the protector is a lunatic, the Lord Chancellor, or other person for the time being intrusted with the care of lunatics, is the protector in the place of such lunatic (j). The consent of the protector must be given by the same assurance by which the disposition is effected, or by another deed executed on or before the day on which the assurance is made (k). And the protector cannot revoke his consent (7).` Íf the consent is given |