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Third Schedule

Volume 155: debated on Wednesday 14 June 1922

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Provisions As To Undivided Shares

Vesting of land held in undivided shares in, trustees on, trust for sale, and repeal of the Partition Acts.

1. Where, at the commencement of this Act, land is held at law or in equity in undivided shares vested in possession the following provisions shall apply:

(1) If the entirety of the land is vested in trustees or personal representatives (subject or not to incumbrances affecting the entirety or an undivided share) in trust for persons entitled in undivided shares, it shall be held by, or vest free from incumbrances.

(3) If the entirety of the land is settled land (subject or not to incumbrances affecting the entirety or an undivided share) held under one and the same settlement, it shall, by virtue of this Act, vest, free from incumbrances affecting undivided shares or not secured by a legal term of years absolute (created by this Act or otherwise) or by a charge by way of legal mortgage, in the trustees (if any) of the settlement as joint tenants upon the statutory trusts:

Property Provided that

  • (i) If there are no such trustees then, pending their appointment, the land shall, by virtue of this Act, wet (free as aforesaid) in the Public Trustee upon the statutory trusts;
  • (ii) The Public Trustee shall not be entitled to act in the trust, or charge any fee, or be liable in any manner unless and until requested in writing to act by or on behalf of persons interested to the extent of more than an undivided moiety of the land or the income thereof;
  • (iv) If the persons interested to the extent of more than an undivided moiety of the land or the income thereof do not either request the Public Trustee to act, or (whether he refuses to act or has not been requested to act) apply to the Court for the appointment of trustees in his place, within three months from the time when they shall have been requested in writing by any person interested so to do, then and in any such case any person interested may apply to the Court for the appointment of trustees in the place of the. Public Trustee, and for an Order vesting the land in such trustees (free as aforesaid) upon the statutory trusts, and the Court may make such Order as it thinks fit;
  • (4) In any other case to which the foregoing provisions of this Section do not apply, the entirety of the land shall vest (free as aforesaid) in the Public Trustee upon the statutory trusts:

    Provided that

  • (i) The Public Trustee shall not be entitled to act in the trust, or charge any fee, or be liable in any manner, unless and until requested in writing to act by or on behalf of the persons interested to the extent of more than an undivided moiety of the land or the income thereof;
  • (iii) Any persons interested in more than an undivided moiety of the land or the income thereof may appoint new trustees in the place of the Public Trustee with the consent of any incumbrancers of undivided shares (but so that a purchaser shall not be concerned to see whether any such consent has been given) and vest the land in the persons Ro appointed (free as aforesaid) upon the statutory trusts; or such persons may (without such consent as aforesaid), at any time, whether or not the Public Trustee has accepted
  • (iv) If the persons interested to the extent of more than an undivided moiety of the land or the income thereof do not either request the Public Trustee to act, or (whether he refuses to act or has not been requested to act) apply to the Court for the appointment of trustees in his place, within three months from the time when they shall have been requested in writing by any person interested so to do, then and in any such case any person interested may apply to the Court for the appointment of trustees in the place of the Public Trustee, and for an order vesting the land in such trustees (free as aforesaid) upon the statutory trusts, and the Court may make such order as it thinks fit.
  • (10) The Partition Acts, 1868 and 1876, are hereby repealed without prejudice to any proceedings thereunder commenced before the commencement of this Act, and to the jurisdiction of the Court to make any orders in reference thereto, and subject to the following provisions, namely:—

    (i) In any proceedings, and at any stage thereof, any person or persons interested individually or collectively to the extent of one moiety or upwards in the land to which the proceedings relate, may apply to the Court for an order staying such proceedings.

    Joint tenancies.

    3.—(1) Where a legal estate (not being settled land) is vested in joint tenants beneficially and any tenant desires to sever the joint tenancy in equity, he may give to the other or others a notice in writing of such desire or do such other acts or things as would in the case of personal estate have been effectual to sever the tenancy in equity, and thereupon the land shall he held by them as joint tenants on trust for sale with full power to postpone the sale and the net proceeds of sale and the net rents and profits until sale shall be held upon the trusts which would have been requisite for giving effect to the beneficial interests if there had been an actual severance. Section sixty-seven of the Conveyancing Act, 1881, shall apply to any such notice.

    (2) From and after the commencement of this Act. no severance of a joint tenancy of a legal estate, so as to create a tenancy in common in land, shall be permissible, but this Sub-section does not affect the right of a joint tenant to release his interest to the other or others, or the right to sever a joint tenancy in an equitable interest (whether or not the legal estate is vested in the joint tenants), but when so vested the land shall he held by the joint tenants on trust for sale.

    (4) From and after the commencement of this Act every tenancy by entireties shall he converted into a joint tenancy, and any tenancy which might otherwise take effect by entireties shall take effect as a joint tenancy.

    Amendments made:

    In paragraph l (3, ii), leave out the word "moiety" ["an undivided moiety of the land"], and insert instead thereof the word "half."

    In paragraph l (4, i), leave out the word "moiety" ["an undivided moiety of the land"], and insert instead thereof the word "half."

    In paragraph l (4, iii), leave out the word "moiety" ["an undivided moiety of the land"], and insert instead thereof the word "half."

    In paragraph l (4, iv), leave out the word "moiety" ["an undivided moiety of the land "], and insert instead thereof the word "half."

    In paragraph l (10, i), leave out the word "moiety" ["to the extent of one moiety or upwards "], and insert instead thereof the word "half."

    In paragraph 3 (2), after the word "permissible," insert the words "whether by operation of law or otherwise."

    In paragraph 3(4), leave out the words

    "any tenancy which might otherwise take effect by entireties shall take effect as a joint tenancy,"

    and insert instead thereof the words

    "in any disposition made or coining into operation after such commencement, a husband and wile for all purposes of acquisition of any interest in property, be treated as two persons."—[Sir L. Scott.]

    I shall be very glad, indeed, to take the Third Reading now, if I am permitted.

    I have no desire to obstruct the Bill in any way, but the Leader of the House announced that the Third Reading would be taken on Friday and there may be some hon. Members who want to be present.

    The announcement was made by the Joint Parliamentary Secretary to the Treasury on Monday that the Third Reading was to be taken on Friday.

    That was certainly announced on Monday during the proceedings, but to-day I was informed by the Joint Parliamentary Secretary to the Treasury that there was an agreement that it should be taken to-night.

    Bill to be read the Third time upon Friday.