Wilson’s Estate Act (1861 No wea) (NSW)

J o s e p h Wi l son h a d contracted wi th t h e said J o h n Erase r G r a y for t he purchase of t he parcel of land the re in described for t he s u m of five h u n d r e d and f i f t y pounds and be ing desirous of m a k i n g some separate provision

An Act to enable the Trustees of a Set t lement made by Mr. Joseph Wilson of Land at Balmain to sell the said Land and to make provision for the Inves tment of the Proceeds

of the Sale thereof. [9th May, 1861.]

WH E R E A S day of J u l y one thousand eight h u n d r e d and fifty-two a n d

by an i nden tu r e bear ing date on or about t h e fifteenth

m a d e be tween J o h n Eraser Gray of t he first pa r t Joseph Wi l son of

t h e second p a r t M a r y Wilson wife of t h e said Joseph Wi l son of t he

th i rd p a r t and J o h n Campbel l of t h e four th pa r t rec i t ing t h a t t h e said

provision for t h e said M a r y Wilson his wife had requested t h e said J o h n Eraser Gray to convey the same upon t h e t rus t s and subject to

t he powers provisoes and declarat ions thereinafter contained I t was

witnessed t h a t in consideration of five h u n d r e d and fifty pounds paid by the said Joseph Wi l son to the said J o h n Eraser Gray the said J o h n Eraser Gray by direction of t h e said Joseph Wi l son appointed and released u n t o t he said J o h n Campbell a cer tain parcel of land a t Bal- m a i n in the said i nden tu re described conta in ing one acre one rood and eighteen perches to hold t he same u n t o and to t he use of t h e said John Campbel l a n d his heirs upon cer ta in t rus t s in the said inden tu re expressed for t h e benefit of t h e said M a r y Wilson dur ing her life or widowhood and t h e chi ldren of t he said Joseph and M a r y Wilson A n d whereas t he said inden tu re conta ins no power for the Trus tee or Trus tees therein, named or thereby to be appoin ted to sell t he said land to g ran t leases thereof or to create any tenancy upon the security of which a t enan t or occupier would be induced to expend money in repairs And whereas t he bui ld ings on t h e said land are in such a dilapidated condit ion t h a t they will soon become wholly un t enan t ab l e and thereby cease to yield an income and the re are no funds be longing to t he said t r u s t estate available for t he repair of the said bui ldings A n d whereas it is considered t h a t if au thor i ty can be obtained for t h e sale of such land the proceeds of t he sale thereof may from t ime to t ime be advantageous ly invested in the purchase of o ther lands in New South Wales or upon real or Government securi ty the re in A n d whereas t he said Jo seph Wilson and t h e said M a r y Wi l son are desirous t h a t t he said lands should be sold and the proceeds thereof invested as aforesaid Be it therefore enacted by the Queen ' s Mos t Excel lent Majesty by and wi th t he advice and consent of t he Legislat ive Council a n d Legislative; Assembly of N e w South W a l e s in Par l iament assembled and by t h e au tho r i t y of t he same as follows—

1. I t shall be lawful for t h e said J o h n Campbel l as such Trus tee as aforesaid or t he Trus tees or Trus tee for t h e t ime be ing of t h e said se t t lement to sell t he lands and he red i t ament s comprised in t he said i nden tu re e i ther by publ ic auc t ion or pr ivate cont rac t and ei ther in one or more parcels or a l lo tments and wi th such r igh ts of way in and over any por t ion of such land as he or they shal l deem most expedient a n d for such price or prices as can be; reasonably obtained for t h e same and when sold to convey t h e same or any pa r t or pa r t s thereof to the purchaser or purchasers the i r or his hei rs or assigns or to such uses and in such m a n n e r as such purchaser or purchasers m a y direct and

the reupon the said hered i taments or such par t thereof as shall be so
conveyed by the said J o h n Campbel l or t h e Trustees or Trus tee	for

the t ime be ing of t he said se t t l ement and t h e legal estate the re in shall vest absolutely in the person or persons to w h o m the same shall be so conveyed the i r heirs and assigns or go and remain to such uses and in such m a n n e r as aforesaid freed and discharged from t h e t rus t s created

by t h e said inden tu re .

2. I t shall be lawful for the said J o h n Campbel l or t he Trus tees or Trus tee for t he t ime be ing of t h e said se t t lement to allow to any purchaser or purchasers of t he said land or any p a r t or pa r t s thereof credit for any n u m b e r of years not exceeding seven years for p a y m e n t of Lis or he r purchase money or any pa r t thereof upon such t e rms as to interest or otherwise as may by the said J o h n Campbell or t he Trustees or Trustee for t he t ime being of t he said se t t lement be deemed proper Provided t h a t t he land shall remain unconveyed or be other­ wise rendered a securi ty for t he unpa id purchase money together with t he interest thereon un t i l t he same shall have been paid and further t h a t ei ther as a pa r t of t he cont rac t of purchase or otherwise it shall be lawful for t he said J o h n Campbel l or t he Trus tees or Trus tee for

t he

t he t ime being of t h e said se t t lement to lay out and invest any pa r t of t he proceeds of t h e sale of t h e said l and or any o ther l and original ly comprised in t he said t r u s t s or any pa r t of t h e said t r u s t moneys upon mor tgage of t h e same or of any other p a r t of t he said land to be t aken from any purchase r or pu rchase r s thereof or his he r or the i r hei rs or assigns.

3 .    I t shall be lawful for t h e said J o h n Campbel l or t h e Trus tees

or Trus tee for t h e t ime be ing of the said se t t lement a t the i r or h i s dis­ cret ion to invest t he moneys be longing to t h e t rus t s of t h e said sett le­ m e n t e i ther at in teres t u p o n real securities or upon securi t ies of t h e

Governmen t	of N e w	South W a l e s or u p o n purchase of o ther l ands	a n d
he red i t aments in N e w South	Wales as t he	said J o h n	Campbel l or t h e

Trus tees or Trus tee for t he t i m e be ing of the said se t t lement sha l l t h i n k fit and e i ther or any of t h e modes of inves tment aforesaid shall be deemed and cons t rued to be equal ly in accordance wi th t he i n t en t and m e a n i n g of t he said se t t lement and shall be subject to tin; t ru s t s of t h e said se t t lement so far as such t ru s t s shall be applicable there to .

4. This Ac t shall be styled a n d m a y b e cited as " W i l s o n ' s E s t a t e

A c t . "