Campbell's Will Trustees Act 1852 No cwt (NSW)

An Act to enable the Trustees and Executors under the Will of the late Robert Campbell Esquire of Bligh-street in the City of Sydney and of Hopewell near the said City to pur­ chase the title and interest of Mrs. Margaret Campbell widow of the said deceased to and in certain Lands and Premises in Bligh- street and to pay the price thereof out of the Testator's residuary assets or to grant an Annuity for the same and to sell or lease the same and to lease certain other Lands and for other purposes. [21st December, 1852.]

WH E R E A S t he city of Sydney and of Hopewel l nea r t he said city

Esqui re by his last W i l l and Tes tament bear ing date on the four teenth

day of November in the year of our Lord one thousand e ight h u n d r e d and forty-six gave a n d devised all his rea l and personal estate not there in specifically devised or bequea thed by h im which should belong to h im a t his decease u n t o and to t he use of Wi l l i am Charles W e n t w o r t h J a m e s Milsom and Piddocke A r t h u r Tompson all of Sydney Esqui res the i r heirs executors adminis t ra tors and assigns upon t ru s t to dispose thereof according to the directions thereinafter conta ined

t h e la te Rober t Campbel l senior of Bl igh-st reet in

contained and the Testa tor the reby amongs t o ther t h ings directed t h a t t he Trustees of his Wi l l should a t such t ime or t imes as t hey should j u d g e expedient sell his real es ta te by publ ic auct ion or by pr iva te cont rac t toge ther or in lots and do all acts requis i te for facil i tat ing any such sale and invest t h e produce thereof in Governmen t stock or securit ies or upon mor tgages of freehold estate in N e w South W a l e s and t h a t t h e said Trus tees should in t h e m e a n t ime let for any t e r m of years no t exceeding five years at rack ren t s upon husbandry bui ld ing repa i r ing or improving leases or occupy a n d use his said real estate and manage the affairs thereof general ly in the i r discretion and the Testa tor thereby also directed his Trustees to pe rmi t and suffer his wife Marga re t Campbel l to occupy and enjoy du r ing the t e r m of he r n a t u r a l life his dwell ing-house wi th the servants ' rooms and stables a t tached there to s i tuate in Bligh-street aforesaid and t h e n in he r occupat ion and to pe rmi t and suffer El izabeth Donel t h e n res iding wi th h i m at Hopewel l and he r chi ldren E d w a r d Campbel l M a r y A n n e Campbel l and Charles Campbel l (all of whom are still alive and under­ age) and t h e survivors and survivor of t h e m to occupy and enjoy his estate of Hopewel l aforesaid un t i l t he younges t of t h e m should a t t a in t he full age of twenty-one years (which will not happen for m a n y years) upon the happen ing of which event t he Trustees were directed to sell or convey as by the said Wi l l is ment ioned for t he benefit of t he said E d w a r d Campbel l M a r y A n n e Campbel l and Charles Campbel l or to

t he survivors or survivor of t h e m b u t in case ne i ther of t h e m should a t ta in t he age of twenty-one years t h e n it was directed t ha t the said

es ta te should go into and form par t of Tes ta tor ' s res iduary es ta te and be d is t r ibuted accordingly and by the said Wi l l after t h e beques t of cer ta in legacies and annui t ies it was fur ther directed t ha t the Trus tees should s tand possessed of t he res idue of the Testa tor ' s said t r u s t pro­ per ty inc luding the Bl igh-s t ree t house servants ' rooms and stables after t he t e rmina t ion of t he Testator ' s said wife's in teres t there in as to one equal fourth pa r t thereof upon t r u s t for t h e child or chi ldren of t he Testa tor ' s son Robert Campbel l who should be l iving a t t h e t ime of t he Tes ta tor ' s dea th in equal propor t ions share and share al ike wi th benefit of survivorship such shares to be paid to t h e m on the i r respectively a t t a in ing the age of twenty-one years and as to one other four th pa r t upon similar t rus t s for t h e chi ldren of t he Testator 's daugh te r Marga re t J a n e Boyd the wife of J o h n Chris t ian Curwen Boyd Esqu i re who should be l iving a t t he t ime of t h e Testator ' s death and as to one other four th pa r t upon similar t ru s t s for the chi ldren of t he

Tes ta tor ' s son Thomas W i n d e r Campbell who should be l iving a t the

Testa tor ' s dea th and as to t he r ema in ing fourth p a r t upon similar

t rus t s for t he said E d w a r d Campbel l M a r y A n n e Campbel l and Charles Campbel l or such of t h e m as should be l iving a t t he Tes ta tor ' s dea th wi th a proviso to t he effect t h a t if t he whole of t he individuals composing ei ther or any of such four classes of res iduary legatees should die unde r t h e age of twenty-one years t h e n t h e said res iduary estate should be divided in to so m a n y equal por t ions as t h e c i rcum­ stances should requi re so t h a t t he por t ion or por t ions of the class or classes so dying should accrue to t he survivors and by t h e said Wi l l provision is made for t h e separate inves tment of t he respective por t ions of t h e said four classes of res iduary legatees du r ing t h e minori t ies of t he par t ies p resumpt ive ly ent i t led the re to A n d whereas t h e said Testa tor depar ted th is life on t h e fifth day of October one thousand eight h u n d r e d and fifty-one leaving very considerable real and personal es ta te to be divided amongs t t h e said res iduary legatees A n d whereas it has been ascer tained since the Testa tor ' s death t h a t several por t ions (being originally separate a l lo tments) of t h e land on which t h e Testa­ to r ' s said house servants ' rooms and stables w i th t he appur tenances

and

and o ther bui ld ings of t he Testator in and near to Bligh-street aforesaid have been erected a n d now s tand and which the Testator dur ing his life­ t ime and by his said Wi l l t r ea ted as exclusively his own belong to the said Marga re t Campbel l in fee in he r own r igh t A n d whereas it will be beneficial to the res iduary estate of t he said Testator t ha t the Trustees should be at l iberty to purchase from the said Marga re t Campbel l the port ions of land so belonging to her wi th the moneys of t he said t rus t in cash or b y w a y of annu i ty so as to un i te t he whole of the said Bligh- street p roper ty unde r one t i t le and tha t t he said proper ty or some par ts of it should wi th t h e consent of the said Marga re t Campbel l be open for immedia te sale or lease for bui ld ing purposes b u t the said Trus tees have no au thor i ty by t h e said Wi l l to employ any por t ion of the said t r u s t funds in such purchase and it is doubted whe the r they can sell the said Bligh-street p roper ty or any par t thereof unt i l after the

decease of t h e said Margare t Campbell no twi ths tand ing her consent

or whe the r they can g ran t bui ld ing or improving leases for t e rms of

sufficient dura t ion for tha t purpose A n d whereas it is expedient to confer such power and to remove such doubts A n d whereas the said estate called Hopewel l consists of seven acres two roods and twenty-five perches of land on which one house only of small value and a t present in a di lapidated condit ion has been erected and is so s i tuated t h a t t he said land is valuable almost exclusively for bui ld ing purposes A n d whereas it would be h ighly beneficial to t he said E d w a r d Campbel l M a r y A n n e Campbel l and Charles Campbell or such other person or persons as may ul t imate ly become ent i t led to the said Hopewel l estate t ha t the Trustees of t he said Wi l l should be empowered to lease por t ions of t he said estate b u t no power to lease t he same; is given by the said Wi l l Be i t therefore; enacted by H i s Excel lency the Governor of New South Wales by and with the advice and consent of t he Legislat ive Council thereof as follows—

1. I t shall be lawful for t he Trustees or Trus tee for t he t ime being of the said Wi l l to purchase from t h e said Marga re t Campbell such par t s of t he said real estate in and near Bligh-street aforesaid as shall appear to t h e m upon due inqu i ry or as shall have been determined by a Cour t of competent jur isdic t ion to be vested in her t he said Mar ­ garet Campbel l in her own r igh t independent ly of t h e said Wi l l and also to purchase from and for her to sell and convey her life in teres t unde r t h e said Wi l l in t he said dwell ing-house servants ' rooms- and stables and all t he r igh t t i t le in teres t c laim or demand whatsoever which she may have in the said real estate in Bl igh-st reet or any pa r t

thereof and to pay for the same such price or prices as they shall	deem reasonably sufficient and proper for t he same ei ther wholly
or in pa r t by one or more paymen t s of money out of t he res iduary es ta te of t he said Testa tor or wholly or in pa r t by g ran t ing to t he said Marga re t Campbel l for her life an annu i ty chargeable on the said real estate in and near Bl igh-s t reet aforesaid or any par t thereof or on t h e proceeds of t he sale thereof in case t h e same shall be thereafter sold or par t ly upon such land as may remain unsold and par t ly upon the proceeds of such por t ions thereof as may be so sold.
2. I t shall be lawful for the said Trustees or Trus tee notwi th­ s tand ing the g r a n t i n g of any such annu i ty as aforesaid as soon as and w h e n they or he shall deem most advantageous to sell and dispose of t he said real estate in and near Bligh-street aforesaid including such pa r t s thereof and such r igh t t i t le claim or interest there to or the re in as they shall have acquired from the said Marga re t Campbell by publ ic auc t ion or by pr iva te cont rac t in such lots as they or he may t h i n k best and the reupon t h e proceeds of such sale shall be charged with such annu i ty if any as shall have been granted as aforesaid and the land so sold shall be discharged therefrom and subject to such charge

t he

the said proceeds shall he invested by the said Trustees or Trus tee as par t and parcel of t he said res iduary es ta te of t he said Testator a n d shall be pa id applied and dis t r ibuted accordingly Provided always t ha t i t shall be lawful for t h e said Trustees or Trustee to allow to any purchaser of any of t he said lots credit upon the securi ty of t h e lot or lots so sold for any n u m b e r of years no t exceeding fourteen years from the pass ing of th i s A c t for such p a r t of his purchase money as they or he shall t h i n k fit and upon such t e rms as to interest or otherwise as may by the said Trus tees or Trus tee be deemed proper .

3 . I n case t h e said Trustees or Trus tee shall deem it more advisable to lease t h a n to sell t h e said land in and near Bligh-street or any p a r t thereof it shall be lawful for t h e m or h i m as soon as and w h e n they or he shall t h i n k best to g ran t leases of t he same in a l lo tments for bui ld ing purposes or other purposes of improvement for t e rms n o t exceeding twen ty years from the passing of th is Ac t and wi th u n d e r and subject to such agreements s t ipulat ions and conditions as t hey or he may t h i n k fit and the reupon the ren t s received for or unde r any such leases shall subject to any such a n n u i t y as aforesaid be used and applied by t h e said Trustees or Trus tee as a pa r t of t he said res iduary estate of t he said Testator .

4 . I t shall be lawful for t he said Trustees or Trus tee to lease the said Hopewel l estate or any pa r t thereof when and as soon as they or he shall t h i n k best in a l lo tments for bu i ld ing purposes or o ther pur ­ poses of improvement for t e rms not exceeding th i r t een years from the passing of th i s A c t and wi th unde r and subject to such agreements s t ipulat ions and condit ions as they or he may t h i n k fit and the r en t s received on or unde r such leases shall be by t h e said Trustees or Trus tee dis t r ibuted in equal shares and propor t ions amongs t or for the benefit of t h e said El izabeth Donel and the said E d w a r d Campbel l

M a r y A n n e Campbel l and Charles Campbel l or t h e survivors of t h e m

as follows t h a t is to say t he dis t r ibut ive share of t he said El izabeth Donel shall be paid in to he r hands or to he r order for he r own use and the shares of t he said Edward Campbel l M a r y A n n e Campbel l and Charles Campbell shall du r ing the i r respect ive minor i t ies be by t h e said Trustees or Trus tee applied so far as they or he shall t h i n k proper in or towards the i r ma in tenance and educat ion a n d the surplus thereof if any shall be accumula ted and invested for the i r use and after t h e major i ty of e i ther of t h e m his or her share in such surplus shall be paid to or to t h e order of h im or he r for his or her own use.

5. U p o n any such sale or lease as aforesaid of any por t ion or por t ions of t h e said Bl igh-s t reet or Hopewel l estates as t h e case m a y
be i t shall be competen t to t he said Trustees or Trus tee to convey and

assure t h e land so sold to t he purchasers thereof the i r hei rs and assigns or to such uses as they m a y lawfully direct or to execute leases of t he land so leased and the conveyances and leases respectively of t h e said Trus tees or Trus tee shall operate according to t h e tenor and effect thereof and the receipts of such Trustees or Trus tee for t h e purchase money of t he said lands or any pa r t thereof or for t he r e n t payable upon any such lease as aforesaid shall be valid and effectual discharges to t h e persons pay ing such purchase money or r e n t a n d shall relieve such persons from all responsibil i ty in respect of misappl i ­ cation thereof or t he non-applicat ion thereof according to t he t rus t s affecting t he same.

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