SETTLEMENT. A settlement, in the most general sense of the word, is a disposition of property of any kind made for certain pur poses by the owner, who, in relation to such disposition, is called the settler or grantor. A settlement in this case may be made either by deed or by will ; but the term is most commonly applied to such settlements only as are made by a deed.
A consideration is not necessary for the validity of a deed at law. Though a deed may in many case. be void as against strangers for want of consideration, it is valid as between the parties. [DEEn.] Settlement. by deed, therefore, may be either made upon valuable or good consideration, or they may be purely voluntary.
The most important species of settlements—to which, indeed, in strict legal Language, the term is exclusively applied—are marriage settlements ; and these may be either such as are made previous to and in consideration of marriage, or subsequent to it.
Settlements of property are frequently made by will, with reference to an existing or future marriage. The forms and provisions contained in such instruments are, of course, often very similar to those in deeds made for like purpose's But dispositions of this kind are to be regarded in all respects as wills, and are governed by the same rules as other instruments of the like nature. [Wtsts] Settlements in consideration of marriage include not only such as are actually made and executed before marriage, but Altai such as are exe cuted after marriage in pursuance of articles in writing drawn up red signed before marriage.
I. First, as to the specific performance of articles and agreements to settle property : In Equity, no regard Is paid to the form of marriage articles, and the construction of them depends entirely upon the intentions and objects of the parties.
When the intended husband and wife are both of full age at the time of the marriage, they are of course competent to enter into any agreement for the settlement of their respective estates, and all such agreements will be enforced in Equity ; but if the parties are one or both of them minors at the time, the case is different.
When the husband is adult and the wife a minor, if the subject real estate of the wife, the husband will be bound by the articles in respect of his marital interest in the lands; that is, for the estate which he takes during the joint lives of himself and his wife, and as tenant by the courtesy if he survive her and there have been issue of the marriage : but the wife will not be bound by them; and, if she die (luring infancy or after attaining majority, but without having con firmed the settlement in the mode prescribed by the law for disposition of real estate by married women, her heir will take the property unfet tered by the articled. Again, if, in the case supposed, the property be personalty of the wife (which, in the absence of a settlement, would become the property of the husband), the articles will be valid as respects both husband and wife, being, in effect, the settlement of the husband. And this is true also as to chattels real and chases in action which become reducible into possession during the coverture ; but, as to property already settled to the separate use of the wife, and chows in action which do not, in event, become reducible into possession during the coverture, the wife will not be bound by the articles.
If a male infant marry an adult female, lie is bound by the articles entered into by her for the settlement of her estate, and must execute them when he comes of age, whatever be the nature of the property ; but as to his own estate, he will not be bound by them.
When the husband and wife are both minors at the time of the marriage, the articles are absolutely null as respects them, unless con firmed after the attainment of majority. In such a case a confirmation of the articles by the wife must be express, and made in the same manner as any other alienation of property by a married woman ; but confirmation on the part of the husband will often he implied from circumstances, such as the acceptance by him of any property under the articles.