Sillitoe's Trust Act 1858 No sta (NSW)
| silliioe-stbustpes. | enable the Trustees under a certain Indenture of Settlement made by Mr. Acton Sillitoe of Land at Double Bay in the Parish of Alexandria in the County of Cumberland to sell the said Land and to invest the Money to arise from such sale upon the Trusts of the | |
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| Preamble. | 1 ly HEREAS by an indenture bearing date on or about tlie nine- |
| V V teentb day of duly one thousand eight hundred and forty-eight | |
| and made between George Cooper Turner solicitor of the first part Acton Sillitoe merchant of the second part Sarah Sillitoe wife of the said Acton Sillitoe of the third part and Archibald Windeyer Esquire and Archibald Mitchell merchant therein designated “ Trustees” of tlu; fourth part in consideration of the sum of forty pounds paid by the said Acton Sillitoe to the said George Cooper Turner and in consideration of the natural love and affection which the said Acton Sillitoe had and bore towards the said Sarah Sillitoe; and his children the said George Cooper Turner by direction of the said Acton Sillitoe granted and released unto the said Trustees a certain parcel of land situated in Double Bay in the parish of Alexandria in the county of Cumberland containing one rood and seventeen perches more or less To hold unto and to the use of the said Trustees their heirs an^.a«signs upon certain trusts in the said indenture expressed fojAhc'lit^efit of the said Acton Sillitoe and Sarah Sillitoe his wifii-d*trifi^heir respective lives and upon the death of the said Sarah Sillitoe or upon the youngest child of the said Acton Sillitoe and Sarah Sillitoe arriving at the age of twenty-one years whichever of the two should last happen Upon trust that the said Trustees and the survivor of them and the heirs executors and admin istrators of such survivor should sell and dispose of the said heredita ments in manner therein mentioned and should hold the residue of tin; purchase money after payment of all expenses attending any sale or sales or otherwise incurred in the execution of the trusts thereby |
declared
| 1858. | 22" VIC. | 541 |
SiUUoe's Trustees.
declared in trust as in the said indenture mentioned and should hold
the residue of the purchase money after payment of all expenses
attending- any sale or sales or otherwise incurred in the execution of
the trusts tlu-rehy declared in trust as in the said indenture mentioned
And wliereas hy indenture hearing date the third day of November one
thousand eight hundred and tifty-hve the llcverend llohert Allwood
clerk and William George Pennington gentleman were duly appointed
'Trustees of the said setthiment in the place and stead of the said
Ar(diil)ald Windeyer and Archibald Miteliell And whereas the land
(annprised in the said settlement is contiguous to other lands Avhieh
und(n- and in pursuance of the poAvers vested in the said llohert
Allwood and William George Pennington hy an Act of the GoA'crnor
and L('gislativc Council of the Colony of New South Wales passed in
| the year one thousand eight hundred and tlfty-five they have sold and | ■ |
| eonv(-y('d to Mr. Thomas Skinner for the sum of Ha'c thousand ])ounds And Avhereas the said Thomas Skinner has agreed to purchase the land comprised in the said recited settlement for the sum of one thousand five hundred pounds conditionally upon a A'alid conA-eyance t hereof being made to him and in the mean time he has agreed to least; the same as an occAipation paddock at the yearly rent of tAA'cnty-live lK)unds And Avhercas the said Trustees have no poAver to let the said land save as aforesaid or in anywise; to imj)rove the same or to obtain a better income therefrom And Avhereas it is considt-red and if authority can he obtained for the sale of such land the proceeds of the sale thci-cof may from tinn- to tinn; he advantageously invested upon real or Goveriimcnt s<;curity in N cav South IPales and the advantages to he d(;riA-ed from the improved and mark(;tahle A'aluc of the trust ])ro])erly Avill he greatly impaired unless the trust for sale contained in the said rc(;itcd settlement be extended for the purposes aforesaid and otherwise; as hereinafter mentioned and enacted And Avliere-as the; said Acton Sillitoe and Sarah Sillitoe are desirous that the said lands sliould he sold and the proceeds thereof invested as afoi-esaid lie it therefore enacted hy tin; Queen’s Most lixccllent Majesty hy and with the advice and consent of the Legislath e Council and Legis lative Assembly of N cav South Wales in Parliam(;nt assembled and hy | |
| tin; authority of the same as M I oavs— |
1. I t shall he hiAvful for the said llohert Alhvood and ‘William Land may i.n «oW George Pennington as such Trustees as aforesaid or the Trustees oi’llvf.stwŝ eVarged Trustee for the time Ix-ing of the said settlem(;nt to sell the land com-from tho trusts of
prist-d in the said secondly mentioned indcntur(; to the said Thomas Skinner his heirs and assigns for the sum of one thousand live hundred pounds and to comny the stirnc accordingly and thereupon the legal estate therein shall vest absolutely in the person or persons to Avhom the same shall he so eoiivt-yc'd their heirs and assigns freed and discharged from the trusts created hy the said indenture.
2. I t shall he hiAvIul for the said llohert Alhvood and William Credit may be given
George Pennington or the Trustees or Trustee for the time being of
| the said settlement to alloAV to the said ])urchas(n- of the said land or | ‘ |
| any part or ])arts thereof credit for any number of years not exceeding s(;ven years for payment of the purchase money or any part thereof upon such terms as to interest or otherAvise as may hy the said llohert Allwood and AVilliam G(;orge Pennington or the Trustees or Trustee for the time being of the said settlement he deemed proper j>rovided that the land shall remain unconveyed or be otherAvise rendered a security for the unpaid purchase money togetlun- Avith the interest thereon until the sanu; shall have bei;n paid. |
d. It shall be hiAvful for the said llohert AllAVOod and William i’'f;cccd3 of sales to
George Pennington or the Trustf-es or Trustee for the time being of (a,vcrnmcnt m real
the said settlement at their or his discretion to invest the monevs securities to he iidd
belonging settlement.
| 542 | 22« VIO. | 1858. |
Ulawarra Steam Navigation Company.
belonging to the trusts of tbe said settlement either at interest upon real securities or upon securities of the Government of New South Wales as the said llohert Allwood and William George Pennington or the Trustees or Trustee for tho time being of the said settlement shall think fit and the modes of investment aforesaid shall be deemed and construed to be equally in accordance with the intent and meaning of the said settlement and shall be subject to the trusts of the said settlement so far as such trusts shall be applicable thereto.
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