No. VIII. RELEASE and INDEMNITY by CESTUIS QUE TRUST to day of RELEASE AND BETWEEN Parties. ment. THIS INDENTURE, made the A. B., of, &c., and C. his wife (cestui que trust), of the first part, D. B., of, &c., E. B., of, &c., and F. B., of, &c. (other cestuis que trust), of the second part, and G. H., of, &c., and I. K., of, &c. (retiring trustees), of the third part (Recite settlement under which Recite settleG. H. and I. K. were trustees, and containing the usual trusts for husband and wife successively, and then for their children— power to appoint new trustees): AND WHEREAS there have been Issue of issue of the said marriage three children, viz., the said D. B., marriage. E. B., and F. B., who have all attained the age of twenty-one years, and two others who died under that age and unmarried: AND WHEREAS the said G. H. and I. K., being desirous of being Retirement of discharged from the trusts of the said indenture of settlement, and appointL. M., of, &c., and N. O., of, &c., have been appointed trustees ment of new in their place by an indenture bearing even date with these presents: AND WHEREAS there have been several changes of Dealings with investments of the trust funds settled by the said indenture, and trust funds. the same now consist of or are represented by the following particulars, namely (state particulars of investments): AND That some of WHEREAS Some of the said investments are not in strict accord- the investance with the trusts of the said indenture, but the same were authorized. old trustees trustees. ments are not (a) Retiring trustees are not, as a general rule, entitled to a release from Cases in which the cestuis que trust, but sometimes it is expressly stipulated that they retiring shall have one, as where the dealings with the trust funds have not been trustees are regular, and the irregularities have been committed at the instance of the entitled to a cestuis que trust, who are sui juris. Again, if besides the appointment of release. new trustees, some alteration is made in the trusts with the consent of the beneficiaries, such an arrangement may properly be treated as a winding up of the old trust, and the creation of a new one, and it would be proper to give the retiring trustees a release. An instance of such a case is, where the trustees of a settlement of real estate have made sales and purchases and interim investments, involving the keeping of accounts. If there is a re-settlement of the estate on the eldest son coming of age, the accounts should be submitted to him and his father, and a release given to the trustees. RELEASE AND INDEMNITY TO RETIRING TRUSTEES. Payment of income. release and indemnity. Witnessing part. Release by father and mother and children to retiring trustees. made at the request of the said A. B. and C. his wife, and are approved of by the said D. B., E. B., and F. B.: AND WHEREAS the income of the trust funds has been duly and regularly paid to the said A. B. up to the date of these presents: AND WHEREAS Agreement for it was part of the arrangement, on the retirement of the said G. H. and I. K. from the trusts of the said indenture, that such release and covenant for indemnity should be given to and entered into with them as are hereinafter expressed: NOW THIS INDENTURE WITNESSETH, that in pursuance of the said agreement, and in consideration of the premises, the said A. B. and C. his wife, D. B., E. B., and F. B., hereby release the said G. H. and I. K., and each of them of and from all actions, claims, and demands whatsoever, for or on account or in respect of the trust funds and premises settled by the said indenture, and the trust funds from time to time representing the same, or the income thereof respectively, or for or on account or in respect of any act, deed, matter, or thing whatsoever, done or omitted to be done by the said G. H. and I. K., or either of them, in or about the execution of the trusts and powers of the said indenture, or in anywise relating thereto, and in particular for or on account of some of the investments of the said trust funds not being authoCovenant by rized by the said indenture: AND the said A. B., D. B., E. B., and F. B. hereby jointly and severally covenant with the said G. H. and I. K., that they the said covenanting persons will at all times keep indemnified the said G. H. and I. K., and each of them, from and against all actions, claims, and demands whatsoever, which may be instituted against them or either of them by or on behalf of the said C. B. or any other person whomsoever, for or on account of any act, deed, matter, or thing whatsoever, done or omitted to be done by the said G. H. and I. K., or either of them, in or about the execution of the trusts and powers of the said indenture, or in anywise relating thereto, and in particular for or on account of such unauthorized investments having been made as aforesaid. father and children to indemnify retiring trustees against any claims by mother. IN WITNESS, &c. No. IX. RECEIPT for a LEGACY charged on LAND (a). RECEIPT FOR is given by the will Legatee 18-, payment of day of acknowledges I, A. B., of, &c., to whom a legacy of £- RELEASE of LANDS from a LEGACY charged thereupon RELEASE OF LEGACY. with. TO ALL TO WHOM THESE PRESENTS SHALL COME, Parties. A. B., of, &c. (releasor), SENDS GREETING: WHEREAS Recite bequest of legacy and S. H., late of, &c., by his will, dated the day of , gave devise of lands and bequeathed the sum of £5,000 to the said A. B., and directed charged therethat the same should be charged on, and be payable primarily out of his real estate, and the said testator by his said will gave and devised all his real estate so charged as aforesaid unto the said C. D., (Death of testator and probate of will): AND Death of WHEREAS the said legacy of £ has not been paid: AND probate of WHEREAS the said C. D., being about to sell the hereditaments described in the schedule hereto, being part of the testator's release. real estate, has requested the said A. B. to release the same testator and will. Agreement to Cases in which a purchaser of real estate charged with (a) If real estate is devised to A. charged with debts and legacies, A. can make a good title to a purchaser, and the latter is not bound to make any inquiry as to the application of the money. But if the real estate is charged with a legacy or several legacies, and not with debts, it is appre- legacies is hended that in cases not coming within sects. 14, 15, and 16 of 22 & 23 bound to see Vict. c. 35, the devisee cannot make a good title without proving payment to their or a release. If the legacy is paid a simple receipt is sufficient, but if it is payment. released without payment there should be a formal deed. Forms of both are given in the text. RELEASE OF LANDS FROM Release of lands from legacy. from the said legacy, which he the said A. B. has agreed to do, THE SCHEDULE ABOVE REFERRED TO. BY EXECUTORS Recital that debts and legacies have been paid out of personalty. Executors release real estate. No. XI. RELEASE by EXECUTORS to DEVISEE of REAL ESTATE charged with DEBTS and LEGACIES. TO ALL TO WHOM THESE PRESENTS SHALL COME, A. B., of, &c., and C. D., of, &c. (executors), SEND GREETING (Recite will whereby real estate is given to E. F., charged with debts and legacies in aid of the personal estate, death of testator, and probate of his will): AND WHEREAS all the funeral and testamentary expenses and debts of the said testator, and all the legacies given by his said will, have been paid and satisfied out of his personal estate as they the said A. B. and C. D. as such executors as aforesaid do hereby acknowledge, and they have therefore agreed to execute this release: NOW THESE PRESENTS WITNESS that the said A. B. and C. D. as such executors as aforesaid hereby release all the real estate of the said X. Y., deceased, from all claims and demands for or in respect of the funeral and testamentary expenses and debts of the said testator, and the legacies given by his said will or any of them or any part thereof respectively. IN WITNESS, &c. No. XII. RELEASE of WIFE's right to DowER, in respect of all RELEASE OF RIGHT TO testator. entitled to dower. TO ALL TO WHOM THESE PRESENTS SHALL COME, A. B., of, &c., widow (releasor), SENDS GREETING: WHEREAS Recite will of C. B., late of, &c., died intestate, on the day of 18-, " leaving the said A. B., his widow, and E. F., his only son and That widow is heir at law AND WHEREAS the said C. B. was at his death seised of freehold lands and hereditaments out of which the said A. B., his widow, is entitled to dower: AND WHEREAS the said A. B. has, at the request of the said E. F., agreed to release the said lands and hereditaments from her dower in the manner hereinafter expressed: NOW THESE PRESENTS WITNESS, witnessing part. that the said A. B., in consideration of her natural love and affection for the said E. F., hereby releases ALL the lands and Release of hereditaments of or to which the said C. B. was seised or right to dower. entitled at his decease of and from all the right and title to dower of her the said A. B., out of or in respect of the same, and all claims and demands relating thereto. IN WITNESS, &c. No. XIII. RELEASE of a POWER of REVOCATION and NEW APPOINT- RELEASE OF TO ALL TO WHOM THESE PRESENTS SHALL COME, ment. (a) Powers are distinguished as follows:-(1) Appendant or appurtenant; Different kinds (2) collateral or in gross; (3) simply collateral. Lord St. Leonards defines of powers. powers appendant or appurtenant as powers which strictly depend on the estate limited to the person to whom they are given; powers collateral or |