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George Jackson

devisee, property and freehold

GEORGE JACKSON, King Street, Leeds.

The conveyance is not always signed by the purchaser.

There may be a yearly rent-charge upon freehold property. The word " freehold " does not necessarily mean that the land is free from all charges whatever, though the word is frequently, though incorrectly, used when it is intended to express such a meaning.

The clauses in the above specimen convey ance are numbered and are referred to as follows : 1. In an indenture the date is at the beginning ; in a deed poll it is at the end. (See INDENTURE.) 2. The second clause relates to the " parties " to the deed.

3. Is concerned with a recital of the vendor's title.

4. The agreement for sale.

5. Consideration.

6. Vendor's acknowledgment of the consideration money.

7. Vendor conveys.

S. The parcels of land are detailed.

9. The tenendum clause.

Any declarations of uses or trusts, and any conditions or provisoes, and any covenants, generally follow this clause.

By the Land Transfer Act, 1897, Section 3 (see under EXECUTOR), since the first of January, 1S98, upon the death of an owner of freehold estate, the property vests in the personal representatives (executors or admi ni strators) of the deceased. When, therefore,

the deeds of a freehold property are offered as security by a borrower, who has succeeded to the propertyas heir-at-law or has obtained it as devisee under a will, it is important for the banker to remember that if the death occurred on or after January 1, 1898, the legal estate is vested in the personal repre sentatives, not in the heir or devisee, and that the formal assent of the personal repre sentatives to the devisee taking the property, or a conveyance from them to the devisee or heir, is necessary before the heir or devisee can have the legal estate. In such cases the assent or conveyance should be deposited along with the other deeds and documents of title. (See TITLE DEEDS.)