SETTLED LAND ACT 1958

Victorian Consolidated Legislation

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SETTLED LAND ACT 1958

No. 6367 of 1958
Version incorporating amendments as at 14 September 2007

TABLE OF PROVISIONS

Section Page
1. Short title, commencement and Division
2. Repeal and savings

PART I-GENERAL PRELIMINARY PROVISIONS

Division 1-Introductory

3. Definitions
4. Application of Act
5. Application of Act to land etc. under Transfer of Land Act
6. Limitation of powers of tenant for life and trustee
7. Repealed

Division 2-Settlement and settled land

8. What constitutes a settlement
9. Exception of lands held on trust for sale
10. What is settled land
11. Duration of settlements

Division 3-Tenants for life and persons with powers of tenant
for life

12. Who is tenant for life
13. Joint tenants etc.
14. Tenants for life of undivided shares
15. Powers of tenant for life not affected by charges etc.
16. Other limited owners having powers of tenant for life
17. Provisions applicable where interest in settled land is restored
18. Resettlement by way of restoration
19. Powers of trustee etc. when there is no tenant for life
20. Provision where tenant for life is sole trustee of settlement
21. As to a tenant for life who has parted with his interest
22. Tenant for life not to exercise powers while order under preceding section in force
23. When order may be made
24. Application of foregoing provisions to married woman
25. Powers not affected by restraint on anticipation
26. Trustees to exercise powers where tenant for life minor
27. Orders if tenant for life becomes a publicly represented person
28. Repealed
29. Concurrence in case of undivided shares

Division 4-Trustees of settlement

30. Who are trustees for purposes of Act
31. As to trustees of compound settlements
32. As to trustees of referential settlements
33. Continuance of trustees in office
34. Title of person to whom disposition made unimpeachable in certain cases of compound settlements
35. Confirmation of dispositions made before commencement
of this Act
36. Appointment of trustees by Court
37. Survivors etc. of persons appointed to be trustees of
settlement

PART II-POWERS OF A TENANT FOR LIFE

Division 1-Sale, exchange and partition

38. Powers of sale and exchange
39. Regulations respecting sales
40. Regulations respecting exchanges and partitions

Division 2-Leasing powers

41. Power to lease for ordinary or building or mining or forestry purposes
42. Regulations respecting leases generally
43. Leasing powers for special objects

Division 3-Provisions as to building and mining leases

44. Regulations respecting building leases
45. Regulations respecting mining leases
46. Variation of building or mining lease according to
circumstances of district
47. Capitalisation of part of mining rent

Division 4-Miscellaneous powers

48. Power on dispositions to impose restrictions and make reservations and stipulations
49. Sale subject to stipulation as to timber
50. Separate dealing with surface and minerals with or without wayleaves etc.
51. Reservation of undivided share in mines
52. Surrenders and regrants
53. Acceptance of leases
54. Power to grant water rights to statutory bodies
55. Power to grant land for public and charitable purposes
56. Dedication for streets, open spaces etc.
57. Power to compromise claims and release restrictions etc.
58. Power to release covenants etc.
59. Power to vary leases and grants and to give licences and
consents
60. Powers to apportion rents
61. Provisions as to consideration
62. Definition
63. Power to complete predecessor's contracts
64. Tenant for life to effect any transaction under an order given
by Court
65. Definitions

Division 5-Provisions as to special classes of property

66. Cutting and sale of timber and capitalisation of part of
proceeds
67. Sale and purchase of heirlooms under order of Court

Division 6-Dealing as between tenants for life and the estate

68. Provision enabling dealings with tenant for life

Division 7-Incumbrances

69. Shifting of incumbrances
70. Power to vary provisions of an incumbrance and to charge
by way of additional security

Division 8-Raising of money

71. Power to raise money by mortgage

Division 9-Conveyance

72. Completion of transactions by conveyance

PART III-INVESTMENT OR OTHER APPLICATION OF CAPITAL MONEY

73. Modes of investment of application
74. Power to acquire land subject to certain incumbrances
75. Regulations respecting investment, devolution and income
of securities etc.
76. Application of money in court under this Act and other Acts
77. Application of money in hands of trustees under powers of settlement
78. Personal estate settled by reference to capital money or trusts
79. Application of money to be paid for lease or reversion
80. As to money received by way of damages for breach of
covenant
81. As to capital arising otherwise than under the Act
82. Settlement of acquired land

PART IV-IMPROVEMENTS
Improvements with Capital Money

83. Description of improvements authorized by Act
84. Mode of application of capital money
85. Creation of rent charges to discharge instalments
Sundry Provisions as to Improvements
86. Concurrence in improvements
87. Court may order payment for improvements executed
88. Obligation on tenant for life and successors to maintain,
insure etc.
89. Protection as regards waste in execution and repair of improvements

PART V-MISCELLANEOUS PROVISIONS

90. Power for tenant for life to enter into contracts
91. Provisions as to different estates settled upon the same
limitations
92. Proceedings for protection or recovery of land settled or
claimed as settled
93. Trustees not to withhold consent arbitrarily

PART VI-GENERAL PROVISIONS AS TO TRUSTEES

94. Number of trustees to act
95. Trustees' receipts
96. Protection of each trustee individually
97. Protection of trustees generally
98. Protection of trustees in particular cases
99. Trustees not liable where documents of title to land in
possession of tenant for life
100. Trustee's reimbursements
101. Notice to trustees
102. Management of land during minority or pending contingency
103. Application of last section

PART VII-RESTRICTIONS, SAVINGS, AND PROTECTION
OF PURCHASERS

104. Powers not assignable and contract not to exercise powers
void
105. Effect of surrender of life estate to the next remainder-man
106. Prohibition or limitation against exercise of powers void
107. Tenant for life trustee for all parties interested
108. Saving for and exercise of other powers
109. Saving for additional or larger powers under settlement
110. Protection of purchases etc.
111. Powers exercisable from time to time
112. Exercise of powers; limitation of provisions etc.

PART VIII-PROCEDURE

113. Application of Trustee Act 1958.
114. Payment of costs out of settled property
__________________
SCHEDULE 1-Extent of Repeal
SCHEDULE 2-Improvements

PART I-IMPROVEMENTS, THE COSTS OF WHICH ARE
NOT LIABLE TO BE REPLACED BY INSTALMENTS

PART II-IMPROVEMENTS, THE COSTS OF WHICH THE TRUSTEES OF THE SETTLEMENT OR THE
COURT MAY REQUIRE TO BE REPLACED BY INSTALMENTS

PART III-IMPROVEMENTS, THE COSTS OF WHICH THE TRUSTEES OF THE SETTLEMENT AND THE
COURT MUST REQUIRE TO BE REPLACED BY INSTALMENTS
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ENDNOTES
1. General Information
2. Table of Amendments
3. Explanatory Details

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