Power for tion. POWER to make Partition, to be inserted in a Settlement, (on marriage) of an undivided Share. (See Chap. II. Sect. IV. of the Text.) PROVIDED ALSO, and it is hereby agreed and detrustees toti clared, by and between the parties to these presents, make partithat it shall and may be lawful to and for the said (trustees) and the survivor of them, and the executors and administrators of such survivor, at any time or times hereafter, at the request, and by the direction, of the said A. B. and C. D. his intended wife, during their joint lives; and after the decease of one of them, then at the request, and by the direction of the survivor of them, during his or her life; and after the decease of such survivor, then at the request, and by the direction, of the person or persons, who for the time being, shall, by virtue of any of the limitations herein before contained, be in the actual possession of, or entitled to the receipt of the rents and profits of, the said undivided part or share and hereditaments, hereby released, or otherwise assured, or intended so to be, if such person or persons respectively, shall be of full age, but if such person or persons respectively, shall be under age, then, during the minority or respective minorities of any such person or persons respectively, at the request, and by the direction of, his, her, or their, guardian or guardians; (such request and direction to be testified by some writing or writings, under the respective hands and seals of the person or persons whose request and direction for the time being are hereby made necessary) to join and concur with the person or persons for the time being seised of or entitled to the other part or parts of the said messuages, lands and hereditaments, of which the said undivided part or share is hereby released, or otherwise assured, or intended so to be, in making a partition or partitions of the said uses. messuages, lands and hereditaments, or any part or parts thereof, And that for the purpose of effectuating And for that purany such partition or division, as aforesaid, it shall pose to reand may be lawful, to and for the said (trustees) and voke said the survivor of them, and the executors, administrators and assigns, of such survivor, at such request, and by such direction, and so testified as aforesaid, by any deed or deeds, instrument or instruments, in writing, sealed and delivered by them or him, in the presence of, and attested by, two or more credible witnesses, absolutely to revoke, determine, and make void, all and every or any of the uses, trusts, powers, or provisoes, hereinbefore limited, expressed and declared, of or concerning the said undivided —————— part or share, and hereditaments, hereby released, or otherwise assured, or intended so to be, and by the same or any other deed or deeds, instrument or instruments, And appoint new in writing, to limit, declare, direct or appoint, any ones. use or uses, estate or estates, trust or trusts, of the hereditaments, the uses of which shall be so revoked, which it shall be thought necessary or expedient to limit, declare, direct or appoint, in order to effectuate any such partition or division as aforesaid, And it is hereby also agreed and declared, by and between the parties to these presents, that upon such partition or division as aforesaid, it shall and may be lawful, to and for the said (trustees) and the survivor of them, and the executors and administrators of such survivor, to receive and take any sum or sums of money, by way of compensation for equality of partition, and to give and sign receipts for the money to be paid by way of compensation as aforesaid; and that such receipt or receipts shall be a sufficient discharge, or sufficient discharges, to the person or persons paying such sum or sums of money by way of compensation for equality of partition as aforesaid, for the money for which such receipt or receipts shall be so given, or for so much thereof as shall therein be acknowledged to be, or to And to take money for equality of partition, and give receipts. have been, received; and that the person or persons, paying such sum or sums of money, and having such receipt or receipts for the same, as aforesaid, shall not afterwards be answerable or accountable for the misapplication or nonapplication, or be in any way bound or concerned to see to the application, of the money in such receipt or receipts acknowledged to be, or to have been, received; And it is hereby also agreed and declared by and between the parties to these presents, that the said (trustees) and the survivor of them, and the executors and administrators of such survivor, shall lay out and invest the money to be received by way of compensation for equality of partition as hereinbefore is mentioned, in and towards the satisfaction and discharge of any principal sum or sums of money which shall then be a charge upon or affect the said undivided part or share, and hereditaments hereby released, &c. or any part thereof in respect of which such partition shall be made, and lay out and invest the residue (if any) of the money so to be received by way of compensation for equality of partition, or, in case there shall be no such incumbrances, then the whole thereof, in the purchase of other hereditaments, in fee simple, in possession, to be situate somewhere in that part of Great Britain called England, or in the principality of Wales, of a clear and indefea zible estate of inheritance in fee simple, or of lands of a leasehold or copyhold tenure, convenient to be held with the hereditaments hereby settled, or to be purchased as aforesaid, yet so that during the joint lives of the said A. B. and C. D. his intended wife, such purchase or purchases respectively, shall be made with the consent of both of them, testified by some writing or writings, to be sealed and delivered by them; and so that, after the decease of one of them, such purchase or purchases shall be made with the consent of the survivor of them, to be testified by some writing to be sealed and delivered by him or her; and so that, ditaments, after the decease of such survivor, such purchase or purchases shall be made with the consent in writing of the person or persons, who for the time being shall, under and by virtue of the limitations hereinbefore contained, be in the actual possession of, or entitled to the actual receipt of, the rents, issues and profits of the hereditaments so to be purchased as aforesaid, in case the same were then actually purchased, pursuant to the powers hereinbefore contained, provided such person or persons shall be of full age; but if such person or persons respectively, shall be under age, or under any other disability, except coverture, then with the consent in writing of the said (trustees) or the survivor of them, his executors and administrators; And it is hereby also agreed and declared, that the said (trustees) and the survivor of them, and the exe- The herecutors and administrators of such survivor, do and to be al shall settle and assure, or cause to be settled and assured, as well the hereditaments which shall be received in lieu of, or as a specific allotment in severalty for, the said undivided part or share and hereditaments, hereby released, &c. or any part thereof, settlement. as the hereditaments to be purchased with the monies to be received by way of compensation for equality of partition as aforesaid, to such and the same uses, upon and for such and the same trusts, ends, intents and purposes, and with, under, and subject to, such and the same powers, provisoes, conditions and agreements, as are, in and by these presents, limited, expressed and declared, of and concerning the said undivided part or share and hereditaments, hereby released, &c. or as near thereto as may be, and the deaths of parties, the change of interests, and other intervening circumstances will admit.* * It is to be observed, that in settlements of undivided shares, where the property is not of great value, the power of partition may be effectually conferred, by the insertion of a few words to that effect, in the usual power to sell and exchange, most of the provisions in which are very similar to those in the power of partition. For instance, the power may lotted on partition, and also those to be purchased, to be set tled, to the uses of this TRUST for making Partition, if Trustees for Sale should think fit. UPON TRUST that they the said A. B. and C. D. or the survivor of them, or his heirs, do and shall, if he or they shall in his or their discretion think fit or expedient, do all such lawful acts, and institute all such proceedings, as shall be necessary, for compelling, enforcing, or effecting, a partition, or division, with the said E. F. his heirs or assigns, or other the owner or owners, for the time being, of the said messuages, &c. of which parts or shares are hereby released, or otherwise assured, or intended so to be; And for the purpose of ascertaining the allotments to be given and taken, on such partition, do and shall consent to any mode of valuation, or reference to arbitration, in such manner, and on such terms, as they the said A. B. and C. D., or the survivor of them, or his heirs, shall think fit or expedient; And do and shall make and execute all such conveyances and assurances, as shall be requisite, or deemed expedient, for accomplishing such partition, and making the same legally valid and effectual; And it is hereby agreed and declared by and between the parties to these presents, that the allotment or allotments which shall be taken in severalty by the said A. B. and C. D., or the survivor of them, his heirs or assigns, on such partition as aforesaid, shall be held by him and them, upon, under and subject to, the same or the like trusts, and for the same or the like ends, intents and purposes, as are hereinbefore expressed and declared, of and concerning the parts or shares and hereditaments, hereby released, &c. authorize the trustees to sell or dispose of or give in exchange, or by way of partition, all or any part, &c. for such price in money or such equivalent "in lands, &c. or divided parts or shares in severalty, of the aforesaid," &c. And an addition to the same effect should be made, where necessary, to all the different clauses of the power. |