SETTLED LAND ACT 1882

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SETTLED LAND ACT 1882 - SECT 2



2.(1) Any deed, will, agreement for a settlement, or other agreement, covenant
to surrender, copy of court roll, Act of Parliament, or other instrument, or
any number of instruments, whether made or passed before or after, or partly
before and partly after, the commencement of this Act, under or by virtue of
which instrument or instruments any land, or any estate or interest in land,
stands for the time being limited to or in trust for any persons by way of
succession, creates or is for purposes of this Act a settlement, and is in
this Act referred to as a settlement, or as the settlement, as the case
requires.

(2) An estate or interest in remainder or reversion not disposed of by a
settlement, and reverting to the settlor or descending to the testator's heir,
is for purposes of this Act an estate or interest coming to the settlor or
heir under or by virtue of the settlement, and comprised in the subject of the
settlement.

(3) Land, and any estate or interest therein, which is the subject of a
settlement, is for purposes of this Act settled land, and is, in relation to
the settlement, referred to in this Act as the settled land.

(4) The determination of the question whether land is settled land, for
purposes of this Act, or not, is governed by the state of facts, and the
limitations of the settlement, at the time of the settlement taking effect.

(5) The person who is for the time being, under a settlement, beneficially
entitled to possession of settled land, for his life, is for purposes of
this Act the tenant for life of that land, and the tenant for life under that
settlement.

(6) If, in any case, there are two or more persons so entitled as tenants in
common, or as joint tenants, or for other concurrent estates or interests,
they together constitute the tenant for life for purposes of this Act.

(7) A person being tenant for life within the foregoing definitions shall be
deemed to be such notwithstanding that, under the settlement or otherwise, the
settled land, or his estate or interest therein, is incumbered or charged in
any manner or to any extent.

(8) The persons, if any, who are for the time being, under a settlement,
trustees with power of sale of settled land, or with power of consent to or
approval of the exercise of such a power of sale, or if under a settlement
there are no such trustees, then the persons, if any, for the time being, who
are by the settlement declared to be trustees thereof for purposes of
this Act, are for purposes of this Act trustees of the settlement.

(9) Capital money arising under this Act, and receivable for the trusts and
purposes of the settlement, is in this Act referred to as capital money
arising under this Act.

(10) In this Act

(i)Land includes incorporeal hereditaments, also an undivided share in land;
income includes rents and profits; and possession includes receipt of income:

(ii)Rent includes yearly or other rent, and toll, duty, royalty, or other
reservation, by the acre, or the ton, or otherwise; and, in relation to rent,
payment includes delivery; and fine includes premium or fore-gift, and any
payment, consideration, or benefit in the nature of a fine, premium, or
fore-gift:

(iii)Building purposes include the erecting and the improving of, and the
adding to, and the repairing of buildings; and a building lease is a lease for
any building purposes or purposes connected therewith:

(iv)Mines and minerals mean mines and minerals whether already opened or in
work, or not, and include all minerals and substances in, on, or under the
land, obtainable by underground or by surface working; and mining purposes
include the sinking and searching for, winning, working, getting, making
merchantable, smelting or otherwise converting or working for the purposes or
any manufacture, carrying away, and disposing of mines and minerals, in or
under the settled land, or any other land, and the erection of buildings, and
the execution of engineering and other works, suitable for those purposes; and
a mining lease is a lease for any mining purposes or purposes connected
therewith, and includes a grant or licence for any mining purposes:

(v)Manor includes lordship, and reputed manor or lordship:

Para.(vi) rep. by SLR 1976

<(vii)Will includes codicil, and other testamentary instrument, and a writing in the nature of a will:


(viii)Securities include stocks, funds, and shares:

(xi)Person includes corporation.

[(11) Any reference in the Settled Land Acts 1882 to 1890 to money, securities
or proceeds of sale being paid or transferred into court shall be construed as
referring to the money, securities or proceeds being paid or transferred into
the Supreme Court or any other court that has jurisdiction, and any reference
in those Acts to the court in a context referring to the investment or
application of money, securities or proceeds of sale paid or transferred into
court, shall be construed, in the case of money, securities or proceeds paid
or transferred into the Supreme Court, as referring to the High Court, and, in
the case of money, securities or proceeds paid into another court, as
referring to that other court.]

Powers to tenant for life to sell, &c.
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Northern Irish Legislation

SETTLED LAND ACT 1882 - SECT 2
