New South Wales: William Clift Trust Estate Act 1926 (NSW)

William Clift Trust Estate. WILLIAM CLIFT TRUST ESTATE ACT. An Act to appoint additional trustees of the will and codicils of William Clift late of Breeza in the State of New South Wales to enable the trustees of the said will and codicils to sell the real estate devised therein to allocate the incidence of certain charges imposed by the said will and codicils on the said real estate and for other purposes incidental thereto. [Assented to, 5th March, 1926.] TILEREAS at the respective dates of his will anc codicils and death hereinafter mentioned William Clift formerly of Breezain the State of New South Wales was carrying on the business of a grazicr at Breeza afore said in co-partnership with Joseph Clift Samuel Clift anc George Clift under and by virtue of certain Articles of Agreement dated the third day of September oni thousand eight hundred and seventy-seven: Anc whereas by his will dated the eleventh day of October one thousand eight hundred and eighty-cight the said William Clift appointed his wife Mary Ann Clift his son Samuel Branxton Clift and Joseph Tlenry Clift executrix executors and trustees thereof and chargec his estate generally with the payment of an annuity of seventy-cight pounds per annum to his brother James Clift and subject to the provisions of the said Articles of Agreement gave devised and bequeathed unto his five sons the said Samuel Branxton Clift John Branxton Clift William George Clift Alexander Morson Clift and Walter William Clift all his share and interest in the lands live stock and plant then the property of the said partnership in which the said testator George V, Preamble, William Clift Trust Estate. George V, testator included also all his lands at Breeza or in that neighbourhood in the nature of freehold and then standing in his name his said sons taking the real estate as tenants in common and the live stock and other personal estates share and share alike the whole standing charged nevertheless with the payment by his 'said sons within seven years after his decease of the sum of four thousand pounds to his wife the said Mary Ann Clift and five thousand pounds to each of his five daughters in the said will named the said sums bearing interest at the rate of four pounds per centum per annum for the said period of seven years or until pay- ment and in respect of the said devise and bequest te his said sons the said testator declared his will and meaning to be that should any of the said sons dic without leavi ing lawful issue him sury iving the share of sach son should fall into and merge in the devise to his surviving brothers the lawful issue of such a one as might have died leaving such issue him = surviving taking between them the share of their deceased parent : And whereas by a first codicil to his said will dated the third day of November one thousand eight hundred and eighty-cight the said testator declared that should any of his said sons die leaving a wife but no issue him surviving he charged the devise and bequest to his said sons generally with the payment to such wife of the sum of two thousand five hundred pounds to he paid to her within twelve months after the death of her husband provided that if such husband should by his last will forbid such payment the provision therein contained for the benefit of his saia wife should not come into operation: And whereas the said testator subsequently executed second and third codicils to his said will the terms of which are not now material: And whereas by a fourth codicil to his said will the said testator charged the said annuity to his brother James Clift only upon his station lands and interest instead of generally upon his estate and the said testator also revoked the legacy given by his will to his said wife of four thousand pounds and in licu thereof charged his estate with the payment to his said wife of an annuity of one hundred and sixty pounds payable half- yearly: And whereas the said testator died on the thirtieth day William Clift Trust Estate. day of March one thousand cight hundred and eighty-nine George V and probate of the said will and four codicils was on the thirtieth day of September one thousand eight hundred and cighty-nine duly granted to the said Mary Ann Clift Samuel Branxton Clift and Joseph Henry Clift as such executrix and exccutors as aforesaid: And whereas the said Mary Ann Clift died on or about the fourteenth day of February one thousand nine hundred and fourteen and the annuity bequeathed to her has been fully paid and discharged: And whereas the legacies (and all interest thereon) bequeathed by the said will to the said five daughters of the testator and charged on the said lands have long since been fully paid and satisfied: And whereas the said Joseph Henry Clift died on or about the twenty-sixth day of January one thousand cight hundred and ninety- four: And whereas the said Samuel Branxton Clift is now the sole trustee of the will and codicils of the said testator: And whereas the said James Clift mentioned in the said will and the fourth codicil thereto died long since and the annuity bequeathed to him has been fully paid and satisfied: And whereas the said Samuel Branxton Clift who is now of the age of seventy-two years is married to Jane Sophia Dixon Clift and has lawful issue now living four children and no more namely :-- Clive Erie Clift Alva May Stanton wife of Arthur Stanton Raymond Lysle Clift and Vida Rae Clift all of whom are adults: And whereas John Branxton Clit who is now of the age of seventy years 's a widower and has law fal issue now living four 'children and no more Arthur Branxton Clirt William Ambrosoli Clift and Joseph Allen Clift all of whom are adults: And whereas the said William George Clift married Hlizabeth Ann Clift and died on or about the fourteenth day of November one thousaid eight hundred and ninety-two leaving him surviving the said Elizabeth Ann Clift and three children and no more namely :—William Clift Lilian May Clift and Verlic Vickers wife of John Vickers: And whereas upon the death of the said William George Clift leaving such issue as aforesaid his undivided share :n the said lands became absolutely vested: And whereas by his last will dated the twenty-third day of October one thousand William Clift Trust Estate. George V. thousand cight hundred and ninety the said William. George Clift devised and bequeathed all his real and per: sonal estate to the said Elizabeth Ann Clift and probate: of his said will was duly granted to her as executrix : And whereas by indenture of settlement dated the eighth day of March one thousand eight hundred and ninety- three the said Elizabeth Ann C the property so devised and bec therein named upon trust for remainder to her said three ¢ And whereas the said Alexand ift conveyed and assigned jueathed to her to trustees - herself for her life with hildren in equal shares: er Morson Clift died on or about the eleventh day of January one thousand nine hundred and eleven a_bache whereas the said Walter Wil or and intestate: And iam Clift who is now of arried to Kdith Clift and the age of fifty-one years is m has lawful issue now living nine children and no more - of whom two namely :—Mary Gertrude Ann McElhone O'Neill wife of John O'Neill and William Thomas McElhone Clift are adults: And whereas by marriage settlement dated the fourteenth day of February one thousand eight hundred and ninety-nine the said Walter William Clift assigned to Arthur Me¥lhone as trustee~ all his share and interest under the will of the said testator William Clift to hold the same in trust to pay- to his wife the said Edith Clift three hundred pounds. per annum and the balance of the rents and profits to him the said Walter William Clift during their joint lives and after the death of either to pay the whole of the said rents and profits to the survivor and after the death of the survivor to hold the said share upon trust for the children of the marriage : And whereas by a deerce of the Supreme Court of New South Wales in Equity made on the thirteenth day of October one thousand cight hundred and ninety-nine in the suit of the said Samuel Branxton Clift and others versus the said Mary Ann Clift and others it was declared that upon the true construction of the said will and codicils of the said testator William Clift the said Samuel Branxton Clift John Branxton Clift William George Clift Alexander Morson Clift and Walter William Clift respectively took absolute interests in their respective shares of the lands devised to them as aforesaid subject however to a gift over of all the share of cach of the William Clift Trust Estate. the said sons of the said testator William Clift in the George V. event of the death at any time of the son entitled to such share without leaving lawful issue him surviving: And whereas shortly before the death of the said testator William Clift in pursuance of the said Articles of Partnership a Partition was effected by the said partners of the land then the property of the partnership and certain lands amounting in area to twenty-nine thousand two hundred and nineteen acres or thereabouts were thereupon transferred to the said testator William Clift : And whereas by Indenture of Conveyance and Assign- ment dated the twenty-seventh day of June one thousand nine hundred and twenty-four and made between the said Elizabeth Ann Clift and Verlie Vickers of the first part the said Elizabeth Ann Clift of the second part the said William Clift Verlie Vickers and Lilian May Clift of the third part and the said Samuel Branxton Clift and John Branxton Clift of the fourth part all the right title and interest of what kind soever taken by the said Elizabeth Ann Clift William Clift Verlie Vickers and Lilian May Clift and each of them by virtue of the said Indenture of Settlement of the eighth day of March one thousand eight hundred and ninety- three and of the wills of the said testator William Clift and the said William George Clift were conveyed and assigned to the said Samuel Branxton Clift and John Branxton Clift for their sole use and benefit absolutely as tenants in common: And whereas by Indenture of Mortgage dated the twenty-seventh day of June one thousand nine hundred and twenty-four and made between the said Samuel Branxton Clift and John Branxton Chft of the first part Hugh Lamon Massie General Manager of the Commercial Banking Company of Sydney Limited of the second part and the Commercial Banking Company of Sydney Limited of the third part all the right title and interest of what kind soever taken by the said Samuel Branxton Clift and John Branxton Clift by virtue of the said Indenture of Conveyance and Assignment of the twenty-seventh day of June one thousand nine hundred and twenty-four was granted assigned and transferred unto the said Com- mercial Banking Company of Sydney Limited by way of mortgage to secure to the said Bank the repayment of a sum William Clift Trust Estate. George V. sum of thirteen thousand five hundred pounds: And whereas by an Agreement for Partition dated the twenty- seventh day of June one thousand nine hundred and twenty-four and made between the said Samuel Branxton Clift of the first part the said John Branxton Clift of the second part the said Arthur Mcklhone of the third part the said Walter William Clift of the fourth part and the said John Branxton Clift and Samuel Branxton Clift of the fifth part it was agreed to make a partition of the lands devised as aforesaid by the will of the said testator William Clift (and more particularly described in the four Schedules annexed to the said Agreement) on the terms thatSamuel Branxton Clift should take in severalty the lands comprised in the said first schedule the said John Branxton Clift should take in severalty the lands comprised in the said second schedule the said Arthur McElhone should take in severalty as such trustee as aforesaid the lands comprised in the said third schedule and the said Samuel Branxton Clift and John Branxton Clift should take as tenants in common the lands com: prised in the said fourth schedule: And whereas the lands desesibed in the said four schedules comprised all the area transferred from the said partnership to the said testator William Clift as aforesaid all the said testator's lands at Breeza or in that neighbourhood in the said will mentioned and also an area of fifty acres or thereabouts purchased subsequently to his death by his said trustees with moneys derived from the income of his estate and since held by such trustees on the trust of the said will and codicils: And whereas the said scheduled lands comprise all the lands now held on the trusts of the will of the said testator William Clift: And whereas by a Decree of the Supreme Court of New South Wales in Kquity dated the thirteenth day of November one thousand nine hundred and twenty-four and made in a suit of which were parties all the persons then in existence and having any beneficial interest in the said lands the said Arthur Mc¥ihone as such trustee and the said Bank as such mortgagee as aforesaid it was ordered that the said lands be partitioned amongst the persons interested therein in accordance with the terms of the said Agreement for Partition and it was further ordered that the said land so partitioned William Clift Trust Estate. 24.3 partitioned should be taken and held subject to the George V. limitations contained in the will of the said testator William Clift: And whereas by Indenture of Family Arrangement made on the twenty-ninth day of October one thousand nine hundred and twenty-four between the said Jane Sophia Dixon Clift of the first part Edith Clift of the second part the said John Branxton Clift of the third part the said Samuel Branxton Clift of the fourth part and the said Walter William Clift of the fifth part the said Jane Sophia Dixon Clift and Edith Clift severally renounced their rights to the con- tingent legacies of two thousand five 'hundred pounds cach bequeathed as aforesaid by the said first codicil to the will of the testator William Clift and each of them the said John Branxton Clift Samuel Branxton Clift and Walter William Clift covenanted with the others of them that he would by his last will or by a codicil thereto forbid the payment of any portion of the said contingent Jegacy to any wife present or future who might survive him: And whereas each of the said partitioned areas is now of the value of 'Thirty thousand pounds or thereabouts : And whereas it is expedient that the contingent legacies charged as aforesaid on the said partitioned 'lands should be se 'cured as to cach such legacy on one only of the said partitioned areas and not on the said lands generally : 'And whereas since the death of the said testator William Clift until the year one thousand nine hundred and twenty-one a grazing business was conducted on the said partitioned lands by the persons beneficially interested therein and for that purpose such lands were worked as a whole: And whereas all the stoek on the said lands were lost by drought in the said year and their replace- ment has been found impossible: And whereas the income now received from the said lands is insufficient to keep down the annua! charges thereon: And whereas the said Samuel Branxton Clift and the said Arthur MeHKlhone as such trustees and the said Commercial Banking Company of Sydney Limited as such mortgagee as aforesaid and all the persons now adult and entitled to beneficial interests in the said lands are of opinion that it would be advantageous to all persons concerned if power to sell the said lands were conferred on the trustee or trustees for the time being of thesaid willand codicils George V. Short title. Appointment of additional trustees, Allocation of incidence of contingent charges. William Clift Trust Estate. codicils of William Clift: And whereas the said Samuel Branxton Clift as such trustee as aforesaid is advised that no valid authority to sell the said lands can be con- ferred on him by any Court of Law or Equity: And whereas it is expedient to appoint threcadditional trustees of the said will and codicils and the present trustee the said Samuel Branxton Clift is advised that it is doubtful whether such appointment can lawfully be made by him as sole surviving trustee of the said will and codicils: And whereas it is expedient that vesting orders of the said lands consequential on such appointment should be made: Be it therefore enacted by the King's Most Excellent Majesty by and with the consent of the Legislative Council and Legislative Assenibly of New South Wales in Parhament assembled and by the authority of the same as follows :— 1. This Act may be cited as the "William Clift Trust Estate Act 1926." 2. Clive Eric Clift of Breeza in the State of New South Wales grazier Arthur Branxton Clift of the same place erazier and George Hill McElhone of Sydney in the said State dentist are hereby appointed trustees of the will and codicils of the said William Clift in addition to the said Samuel Branxton Clift and future appointments of new trustecs of the said will and codicils may be made in accordance with the provisions of any Act relating to the appointment of new trustees for the time being in force. 3. Notwithstanding anything in the said will or codicils contained the contingent legacies directed by the said first codicil of the will of William Clift to be paid to the respective wives of such sons of the testator as should die leaving a wife but no issue surviving and without having forbidden such payment by will or codicil shall be charged only upon the lands contained in the first second and third schedules to the said decree of the Supreme Court in Equity dated the thirteenth day of November one thousand nine hundred and twenty-four or upon the proceeds of sale of such lands and in manner following and not otherwise :— (i) Asto the legacy payable to any wife of Samuel Branxton Clift who may become entitled thereto William Clift Trust Estate. 245 - thereto only upon the lands included in the George Vv. said first schedule or upon the proceeds of sale thereof (ii) As to the legacy payable to any wife of John Branxton Clift who may become entitled thereto only upon the lands included in the said second schedule or upon the proceeds of sale thereof (iii) As to the legacy payable to any wife of Walter William Clift who may become entitled thereto only upon the lands included in the said third schedule or upon the proceeds of sale thereof. 4, (1) The trustee or trustees for the time being of Power to sell the said' will and codicils of William Clift shall have tio" power to sell and convey (whether in subdivision or otherwise) exchange for other lands mortgage lease or otherwise deal with the whole or any portion of the lands contained in the said first second and third schedules to the said lastmentioned Decree freed from all trusts charges and limitations affecting the same and in all respects as if he or they were the absolute owner or owners of the fee simple in such ands. And the said power shall be deemed to include in relation to the said lands (a) A power to cut and sell or contract for the cutting and sale of any timber (b) A power to sever and sell fixtures apart from the balance of the property (c) A power to sell any casement right or other : privilege (d) A power to lay out and make such roads streets and ways to be dedicated to the public or not and to grant such casements rights of way or drainage over the same as the circumstances of the case may require (e) A power to surrender any portion of the said lands to the Crown and to accept any other lands in lieu of such portion so surrendered (2) The power aforesaid shall he exercised (a) As to the lands comprised in the said first schedule only with the consent in writing of the said Samuel Branxton Clift during his life () 246 William Clift Trust Estate. George V. (hb) As to the lands comprised in the said secona schedule only with the consent in writing of the said John Branxton Clift during his life (c) As to the lands comprised in the said third schedule only with the consent of the trustee or trustees for the time heing of the said Indenture of Marriage Settlement dated the fourteenth day of February one thousand eight hundred and ninety-nine. Trustees 5, The reccipt or receipts in writing of the trustee or receipt tobe trustees for the time being of the said will and codicils suflicient discharge. Shall be an absolute discharge toany purchaser mortgagor lessee or other person or persons paying any moncys to such trustee or trustees and shall exonerate the person or persons so paying from the necessity of secing to the application of such moneys from any lability for the non-application or misapplication of the same or any part thereof. Vesting of 6. The lands contained in the said first second and Jands in third schedules of the said Decree of the thirteenth day of November one thousand nine hundred and twenty-four are hereby vested in the said trustves Samucl Branxton Clift Clive Hrie Clift Arthur Branxton Clift and George Till Mc£lhone their heirs and assigns for an estate of inheritance in fee simple. Exceptasstucd "F%, Save as hereinbefore mentioned the trusts of the trusts of willand unot said will and codicils of William Clift shall not be be affected hy this Act. affected by the provisions of this Act. Trustees my 8. The trustee or trustees for the time being of the pay costs cle. said will and codicils of William Clift may pay out of the corpus of the trust estate the costs charges and expenses of and incidental to the drafting preparation and passing of this Act. VAUCLUSE