Page images
PDF
EPUB

CHAPTER XII.

ASSIGNMENTS.

An Assignment of a Term to attend the Inheritance. This indenture, made, &c., between, &c.-[Recite the instrument creating the term, and that by mesne assignments, gc., it became vested in the assignor, and recite the conveyance of the freehold since the last assignment, including the cotemporary conveyance or mortgage.] And whereas it hath been agreed between the parties hereto, that the said and premises should be assigned by the said A. B. unto the said G. H. for all the residue of the said term of five hundred years upon the trusts, intents, and purposes hereinafter declared. Now, this indenture witnesseth, that, in pursuance of the said recited agreement, and in consideration of the sum of five shillings by the said G. H. paid to the said A. B., the receipt whereof is hereby acknowledged, he, the said A. B., at the request, and by the direction of the said C. D., and on the nomination of the said E. F., testified by their severally executing these presents, hath bargained, sold, assigned, and transferred, and, &c., unto the said G. H., his executors, administrators, and assigns, all the said messuages, farms, lands, and premises hereinbefore described, [being part of the messuages, lands, and premises,] and comprised in, and demised by, the hereinbefore in part recited

indenture, being the hereditaments and premises comprised in and conveyed by the said in part recited indenture of lease and release, ((or if it is uncer. tain what part of the premises are subject to the term,) all so many and such part of the hereditaments and premises described in, and conveyed by the hereinbefore in part recited indenture of lease and release, as were comprised in and demised by the also hereinbefore in part recited indenture of , and are now subject to the said term of five hundred years, 1 with their several rights, inembers, and appurtenances. And all the estate, right, title, interest, trust, term, and terms of years, property, possession, benefit, claim, and demand whatsoever, both at law and in equity, of him, the said A, B., of, in, or to the same, or any part thereof respectively. To have and to hold the said , and all and singular other the premises hereby assigned, or intended so to be, with their appurtenances, unto the said G. H., his executors, administrators, and assigns, henceforth for all the rest and remainder of the said term of five hundred years now to come and unexpired, and for all other the estate, term, and interest of the said A. B. therein. In trust, nevertheless, for the said E. F., his executors, administrators, and assigns, for the further, better, and more effectually securing the payment of the principal, interest, and other moneys intended to be hereby secured, and to permit and suffer the same term, from time to time, to be assigned and disposed of for that purpose, as he, the said E. F., his executors, administrators, or assigns, shall from time to time direct or appoint, and in the meantime and subject thereto. In trust, and to the end and intent, that the same term may attend and wait upon the freehold reversion and inheritance of the said hereditaments and premises intended to be hereby assigned, in order to protect the same from all mesne and intervening incumbrances, if any such there be, and to be from time to time subservient to the uses, trusts, interests, and purposes, in and by the

said recited indenture of release, limited, expressed, and declared, of and concerning the same.

Assignment of a Term by Indorsement, on'a Purchase of the Inheritance by the Owner of the Term.

This indenture, made, &c., between the within named A. B. of the one part, and C. D., of, &c., of the other part. [Recite the contract for the purchase.] And whereas by certain indentures of lease and release, already prepared and made between, &c., the messuage, lands, and premises, within mentioned and described, are intended to be conveyed and assured by the said unto the said A. B., his heirs and assigns for ever. And whereas, in order to prevent the within mentioned term of five hundred years now subsisting in the said premises from being merged in the reversion and inheritance thereof, it hath been agreed, that, previous to the execution of the hereinbefore mentioned indentures, the said messuages and premises shall be assigned by the said A. B. to the said C. D. for all the residue of the said term of five hundred years, for the purposes hereinafter mentioned. Now, this indenture witnesseth, that, in pursuance of the said purpose and agreement, and in consideration of five shillings, &c., he, the said A. B., hath bargained, sold, assigned, and transferred, and, &c., unto the said C. D., his executors, administrators, and assigns, all the within described messuages, lands, and premises, with their several rights, members, and appurtenances. And all the estate, &c. [Habendum as in last precedent covenant by A. B., that he has not incumbered.]

Assignment of several Terms. , This indenture, &c. [Recite the creation of the oldest term, and trace it as in an assignment of a single term to the present trustee, and do the same as to the second, third, and each other term successively; then recite the title to the freehold from the period when the term, which at the greatest distance of time was assigned to attend the inheritance was so assigned, and then recite the agreement to assign.] Now, this indenture witnesseth, that, in pursuance of the said recited agreement, and in consideration of the sum of five shillings by the said Q. R. to each of them, the said [A. B., E. F., and I. J.,] in hand well and truly paid, the receipt, &c., they, the said A. B., E. F., and I. J., at the request, and by the direction of the said M. W., and upon the nomination of the said O. P., testified by their severally executing these presents, and according to their several estates, terms, and interests therein, have, and each of them hath, bargained, sold, assigned, and transferred, &c., habendum for all the rest, residue, and remainder of the said several terms of 2000 years, 1000 years, and 500 years now to come and unexpired, and for all other the estate, term, and interest of them, the said A. B., E. F., and I. J. therein, but upon the trusts, intents, and purposes hereinafter expressed, declared, and contained, of and concerning the same, [add covenant against incumbrances commencing as follows ;] and the said A. B. doth hereby for himself, his executors, and administrators, and as to and concerning his own acts and defaults, and in respect only of the said term of 2000 years, and the premises therein comprised, and the said E. F., &c., covenant and declare with and to the said Q. R., his executors, administrators, and assigns, that they, the said A. B., E. F., and I. J., &c. [By another witness. ing part the trustees of the second, fourth, and sixth terms must assign them to S. T., and covenant with him against incumbrances.] And it is hereby agreed and declared, between and by the said parties hereto, that they, the said Q. R. and S. T. respectively, and their respective executors, administrators, and assigns, shall and do henceforth stand possessed of, and interested in, the said messuages, lands, and pre

Trustees of the 1st, 3d, and 5th terms.

mises, for the respective residues of the said several terms of years so hereby assigned to them as aforesaid. Upon trust, &c.

term.

Observations on Deeds of Assignment of attendant

Terms. In the recital of a term long since created for rais. The mode of ing portions, and the trusts of which have been per- stating trusts

of old terms formed or become unnecessary, the trusts may be re- for raisi ferred to briefly, thus, “upon certain trusts therein portions, &c. declared, and since performed and satisfied or discharged, or become incapable of taking effect,” (as the fact is.) In old terms, it will be sufficient to recite short mode of the original creation of the term, and that the rever- showing the

creation of a sion, freehold, and inheritance of the premises there

term, and in in comprised, have become vested in the (vendor,) whom the inand that by virtue of divers mesne assignments, heritance has &c., the term has become vested in the trustee to at- woond the

become vesttend. If the term be assigned on a mortgage, recite, last assign" that, upon the treaty for the loan of the said sum of ment of the L. , it was agreed by and between the parties ter hereto, that the said term of, &c., and the premises therein comprised, should be assigned by the said (trustee of the term) to the said (trustee for the mortgagee,) for better securing the payment to the said (mortgagor,) his executors, administrators, and assigns, of the said sum of L. , and interest, according to the covenant for payment thereof, contained in the said recited indenture of release," (the mortgage. If the term was created for raising portions which have not been raised, but which, on a sale, the premises are intended to be released from, it would be advisable that the parties entitled thereto beneficially should join in the assignment of the term to a trustee of the purchaser, for the purpose of assenting to the assignment, and releasing the premises from their claims.

The assignment of terms may be shortened very Assignment considerably, by indorsement on the last assignment, i

of terms by by which means the recitals will commence with the

« PreviousContinue »