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SETTLED ESTATES ACT 1877 - SECT 4

Power to authorise leases of settled estates.

4. It shall be lawful for the Court, if it shall deem it proper and consistent
with a due regard for the interests of all parties entitled under the
settlement, and subject to the provisions and restrictions in this Act
contained, to authorise leases of any settled estates, or of any rights or
privileges over or affecting any settled estates, for any purpose whatsoever,
whether involving waste or not, provided the following conditions be observed:

First. Every such lease shall be made to take effect in possession at or
within one year next after the making thereof, and shall be for a term of
years not exceeding for an agricultural or occupation lease, ... so far as
relates to estates in Ireland thirty-five years, and for a mining lease or a
lease of water mills, way leaves, water leaves, or other rights or easements
forty years, and for a repairing lease sixty years, and for a building lease
ninety-nine years: Provided always, that any such lease (except an
agricultural lease) may be for such term of years as the Court shall direct,
where the Court shall be satisfied that it is the usual custom of the district
and beneficial to the inheritance to grant such a lease for a longer term than
the term herein-before specified in that behalf:

Secondly. On every such lease shall be reserved the best rent or reservation
in the nature of rent, either uniform or not, that can be reasonably obtained,
to be made payable half yearly or oftener without taking any fine or other
benefit in the nature of a fine: Provided always, that in the case of a mining
lease, a repairing lease, or a building lease a peppercorn rent or any smaller
rent than the rent to be ultimately made payable may, if the Court shall think
fit so to direct, be made payable during all or any part of the first five
years of the term of the lease:

Thirdly. Where the lease is of any earth, coal, stone, or mineral, a certain
portion of the whole rent or payment reserved shall be from time to time set
aside and invested as herein-after mentioned, namely, when and so long as the
person for the time being entitled to the receipt of such rent is a person who
by reason of his estate or by virtue of any declaration in the settlement is
entitled to work such earth, coal, stone, or mineral for his own benefit, one
fourth part of such rent, and otherwise three fourth parts thereof; and in
every such lease sufficient provision shall be made to ensure such application
of the aforesaid portion of the rent by the appointment of trustees or
otherwise as the Court shall deem expedient:

Fourthly. No such lease shall authorise the felling of any trees except so far
as shall be necessary for the purpose of clearing the ground for any
buildings, excavations, or other works authorised by the lease:

Fifthly. Every such lease shall be by deed, and the lessee shall execute a
counterpart thereof, and every such lease shall contain a condition for
re-entry on non-payment of the rent for a period of twenty-eight days after it
becomes due, or for some less period to be specified in that behalf.

© 1877 Crown Copyright

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