Moffitt's Estate Enabling Act of 1881 No mee (NSW)

All Act to authorize John Williams or other the Trustees or Trustee for the time being of the Will of the late William Moffitt deceased to sell lease or otherwise dispose of portions of the Real Estate of the said William Moffitt deceased. [6th December, 1881.]

last will and t e s t amen t da ted t he fifth day of J u n e one thousand e ight WH E R E A S W i l l i a m Moffitt la te of Sydney in t he South Wales bookseller deceased duly m a d e and executed his

Colony of N e w

h u n d r e d a n d seventy- three and the reby appointed J o h n Wi l l i ams of Sydney aforesaid Crown Solicitor sole devisee in t r u s t of all his real and personal es ta te upon t r u s t as to cer ta in proper t ies inc lud ing t h e

proper ty ment ioned	in	Schedule I	here to for t h e tes ta tor ' s daugh te r
Sarah	J a n e	M a r k s wife	of J a m e s M a r k s of J amberoo in t h e said Colony

for her sole a n d separate use du r ing her lifetime a n d thereafter u p o n

t h e t rus t s in t he said will declared concerning the same A n d as to cer ta in other propert ies inc luding the proper ty men t ioned in Schedule I I he re to for t h e said tes ta tor ' s d a u g h t e r M a r y T h o m e wife of R o b e r t Thorne of Liverpool-street in Sydney aforesaid for her sole and separate use du r ing her lifetime and thereafter upon the t rus ts in t he said will declared concerning the same a n d as to the residue of t he said testator 's estate upon the t rus t s in t he said will declared A n d whereas t h e said Wi l l i am Moffitt died on the thir ty-f irs t day of J u l y one thousand e igh t hund red and seventy-four leaving h i m surviving his said two daughte rs and ano ther daugh te r E l izabe th Pres ton M a r k s wife of

J o h n Marks t h e n of J a m b e r o o b u t now of Dar l ing Po in t nea r

Sydney aforesaid a M e m b e r of the Legis la t ive Council A n d whereas

p roba te of t h e said will was du ly g ran ted on t h e twenty-seven th day

of A u g u s t one thousand e ight h u n d r e d and seventy-four to t h e said

J o h n Wi l l i ams a n d El izabeth Pres ton M a r k s t h e executor a n d execu­

t r ix n a m e d in t h e said will A n d whereas t h e said will does no t conta in a n y power to sell demise or otherwise dispose of t he lands and premises the reby devised A n d whereas and in consequence of t he absence of such power and the inabil i ty to g ran t a lease for a longer period t h a n t h e lives of t he respective persons who are ent i t led as t enan t s for life to t h e respective port ions devised t h e said lands and

premises r ema in un improved and t h e bui ld ings thereon are becoming

deter iorated and of less va lue t h r o u g h w a n t of repair and otherwise

A n d whereas t he lands and premises ment ioned in Schedule I here to can now be sold for a s u m of money the in teres t of which w h e n invested will exceed the ren ta l now obtainable for t h e said lands and premises and i t is desirable in t h e interests of all concerned t h a t t h e said J o h n Wi l l i ams or o ther t he Trus tee for t h e t i m e being of t he said will should be empowered to sell t he said lands and premises and inves t t h e proceeds and apply t h e interest thereof u p o n t h e t rus t s in the said will declared concern ing the said lands and premises A n d whereas the re is reason to believe t h a t t h e said l ands and premises ment ioned in Schedule I I hereto can now be let on a bu i ld ing lease for a g round r e n t equal to t he ren t a t present received and upon favourable conditions as to bu i ld ing and otherwise and it is desirable t h a t t h e said J o h n Wi l l i ams or other the Trustee as aforesaid should be empowered to gran t such bui ld ing lease for any period not exceeding twenty-one

f years

years A n d whereas i t is desirable t h a t t he said J o h n Wi l l i ams or other Trus tee as aforesaid should be empowered to g ran t leases of any port ion of t h e said t rus t estate for any period not exceeding seven years for an ord inary lease or twenty-one years for a bu i ld ing lease and to apply t he ren t s or issues thereof for t h e benefit of t he persons respect ively ent i t led there to A n d whereas t h e au thor i ty of t h e Legis la ture is necessary in t h e premises Be i t therefore enacted by the Queen ' s Most Exce l len t Majes ty by and wi th t he advice and consent of t h e Legislat ive Council and Legis la t ive Assembly of N e w South W a l e s in Pa r l i amen t assembled and by t h e au thor i ty of t h e same as follows : —

1. I t shall be lawful for t he said J o h n Wi l l i ams or o ther t he

Trustees or Trus tee for t h e t ime being of t h e will of t h e said W i l l i a m Moffitt deceased to sell and absolutely dispose of all and s ingular t he said lands he red i t aments and premises described in Schedule I here to e i ther by public auc t ion or pr ivate con t rac t and ei ther in one or more lot or lots and in such m a n n e r generally and upon and subject to such t e rms and conditions as he or t hey m a y deem expedient and for such price or prices as can be reasonably obtained for t h e same and w h e n sold to convey t h e same or any par t or par t s thereof to t he purchaser or purchasers his or thei r heirs or successors and assigns or to such uses and in such m a n n e r as such purchaser or purchasers m a y direct freed and discharged from all t rus ts affecting t h e same and t h e receipt in wr i t i ng of t h e said J o h n Wi l l i ams or o ther Trustees or Trus tee as afore­ said for t he purchase money of any lands so sold as aforesaid shall be full a n d sufficient discharges to a n y purchaser for t h e same a n d f rom

be ing bound to see to t h e appl icat ion	thereof or from	a n y l iabil i ty for
t h e loss non-applicat ion	or misappl icat ion of t h e same or a n y	p a r t
thereof.

2. I t shall be lawful for t h e person so selling as aforesaid to give credit to any purchase r or purchasers of t he said lands or of any p a r t or pa r t s thereof for any n u m b e r of years not exceeding seven for t h e paymen t of so m u c h of t h e purchase money as shall no t exceed two- th i rds of t he whole upon such t e rms as to in teres t as m a y bo deemed proper Provided t h a t t he lands so sold shall remain unconveyed or be otherwise rendered a secur i ty for so m u c h of t he purchase money as shall r emain unpa id together w i th in te res t thereon u n t i l t h e same shall have been whol ly satisfied.

3 . I t shall be lawful for t h e said J o h n Wi l l i ams or t h e said

Trustees or Trus tee as aforesaid wi th t he consent of t he person for t he t ime be ing ent i t led to t h e ren t s income or profits of t he lands respec­ t ively hereinaf ter referred to to execu te and m a k e leases of t he lands

and premises described in Schedule I I here to and also any other por t ion
of t he said lands and premises devised by t h e said will to any person

or persons w h o shall covenant to improve t h e same b y erect ing thereon a n y house or bu i ld ing or by repa i r ing or rebui ld ing any house or bu i ld ing wh ich m a y be now or hereafter shall be s t and ing the reon or by otherwise expending in improvements such moneys as shall be deemed adequa te by t h e Trus tee for t h e t ime be ing of t he said will B u t so t h a t every such lease shall be for a t e r m not exceeding twen ty - one years to t ake effect in possession and shal l be a t t h e best r e n t t h a t can be reasonably obta ined for t h e same h a v i n g regard to t h e

covenants to be performed on t h e p a r t of t he lessee b u t wi thou t

t a k i n g a n y t h i n g in t he n a t u r e of a fine or p r e m i u m for t he m a k i n g thereof and so t h a t there be conta ined in every such lease a cove­ n a n t b y t h e lessee for t h e p a y m e n t of r en t the reby reserved and a condit ion of r e -en t ry for non -paymen t thereof wi th in a reasonable t i m e to be there in specified or non-observance or non-performance of cove­ nan t s by t h e lessee and so t ha t t h e lessee do execu te a coun te rpa r t

thereof.

4. I t shall he lawful for t he said J o h n Wi l l i ams or other t h e

Trustees or Trus tee as aforesaid wi th such consent as aforesaid to lease any p a r t or par t s of t he lands and premises devised by t h e said will for any t e r m no t exceeding seven years from t h e t ime of m a k i n g such leases so as the re be reserved in every such lease t h e best r en t t h a t can be reasonably obtained wi thou t t a k i n g any fine or p r e m i u m for the g ran t ing thereof and so also t h a t there be contained in every lease executed u n d e r th is power a covenant by the lessee to pay t h e r e n t the reby reserved a n d a condi t ion of re -ent ry on non-paymen t thereof or non-observance or non-performance of t he other covenants the re in contained a n d so also t h a t t h e said lessee do execute a coun te rpar t

thereof.

5. The said J o h n Wi l l i ams or o ther t he said Trustees or Trus tee shal l s tand possessed of the proceeds of any sale unde r t he power here in conta ined upon t ru s t in t he first place to pay t h e costs and expenses of and inc identa l to such sale and to invest t he residue upon any of t h e securi t ies ment ioned in t h e will of t h e said Tes ta tor w i th reference to t h e inves tmen t of his personal estate a n d to pay the in teres t or a n n u a l proceeds thereof and also t h e rents issues and proceeds of any por t ion of t he said estate to the par t ies ent i t led to t h e income profits or r e n t of t he said lands respectively u n d e r a n d by

v i r tue of t he said will of t he said tes ta tor .

6. This A c t may be cited as " Moffitt 's E s t a t e E n a b l i n g A c t of

1 8 8 1 . "

S C H E D U L E S .

S C H E D U L E I .

-All t h a t a l lo tment or parcel of land conta ining by admeasurement th i r t een

perches and one half-porch more or less s i tua ted in t he town of Sydney parish of Saint A n d r e w County of Cumber l and a l lo tment number n ine teen of section number twenty-

six Bounded on the east by George-s t ree t bearing nor th e ight degrees west one hundred and t h r e e l inks and one-half on the nor th by King-s t ree t west bear ing west five degrees th i r ty minu tes south eighty l inks and one-half on t he west by a l lo tment number twen ty bear ing south t en degrees cast one h u n d r e d and t en links and on the south by a l lo tment n u m b e r e ighteen bear ing cast n ine degrees t h i r t y minu tes no r th seventy-eight l inks and one-half.

S C H E D U L E I I .

Al l t ha t piece or parcel of land s i tua te and lying in t he par ish of Saint J a m e s City of Sydney in the County of Cumber land Colony of N e w South W a l e s and be t he herein­ after ment ioned dimensions all more or less and containing by admeasurement th i r ty-s ix perches Commencing on the wes tern building-line of P i t t - s t r ee t a t t h e nor th -eas te rn corner of lot s ixteen of section thi r ty-s ix and bounded on the east by P i t t - s t r ee t bear ing nor ther ly s ixty-two feet n ine inches on the no r t h by a l ine passing par t ly th rough a wall in all one hundred and seventy-two feet four inches bear ing wester ly on the west by a lino passing th rough the cen t re of t he Sydney Arcade wall bear ing souther ly fifty- six feet t h r e e inches and on the south by l ines bear ing easterly twenty- four feet n ine inches forty-seven feet t h r ee inches and eas t four degrees n o r t h and passing through the cen t r e of a wall n ine ty feet to t he point of commencement .

A n