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SETTLED LAND ACT 1882 - SECT 37

Heirlooms.

37.(1) Where personal chattels are settled on trust so as to devolve with land
until a tenant in tail by purchase is born or attains the age of [eighteen]
years, or so as otherwise to vest in some person becoming entitled to an
estate of freehold of inheritance in the land, a tenant for life of the land
may sell the chattels or any of them.

(2) The money arising by the sale shall be capital money arising under
this Act, and shall be paid, invested, or applied and otherwise dealt with in
like manner in all respects as by this Act directed with respect to other
capital money arising under this Act, or may be invested in the purchase of
other chattels, of the same or any other nature, which, when purchased, shall
be settled and held on the same trusts, and shall devolve in the same manner
as the chattels sold.

(3) A sale or purchase of chattels under this section shall not be made
without an order of the Court.

Appointment of trustees by Court.



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© 1882 Crown Copyright

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