SETTLED LAND ACT 1958 - SECT 48 Power on dispositions to impose restrictions and make reservations and stipulations

SETTLED LAND ACT 1958 - SECT 48

On a sale, exchange, partition or other disposition or dealing under the powers of this Act—

        (a)     any easement, right or privilege of any kind may be reserved or granted over or in relation to the settled land or any part thereof or other land, including the land disposed of and, in the case of an exchange, the land taken in exchange; and

        (b)     any restriction or reservation with respect to building on or other user of land, or with respect to mines and minerals, or with respect to or for the purpose of the more beneficial working thereof, or with respect to any other thing, may be imposed or reserved and made binding, as far as the law permits, by covenant, condition or otherwise, on the tenant for life or statutory owner and the settled land or any part thereof, or on the other party and any land disposed of to him; and

        (c)     the whole or any part of any capital or annual sum (and in the case of an annual sum whether temporary or perpetual) charged on or payable out of the land disposed of, or any part thereof, and other land subject to the settlement, may as between the tenant for life or statutory owner and his successors in title, and the other party and persons deriving title under or in succession to him (but without prejudice to the rights of the person entitled to such capital or annual sum) be charged exclusively on the land disposed of, or any part thereof, or such other land as aforesaid, or any part thereof, in exoneration of the rest of the land on or out of which such capital or annual sum is charged or payable; and

        (d)     ^[16] where the sale, exchange, partition or other disposition or dealing is made with the consent of the trustees of the settlement the purchase and other consideration moneys shall be payable and paid to and received by the trustees and not the tenant for life or statutory owner and if made with the order of the Court then as the Court directs.

No. 3771 s. 49.