Grant. No. 10. GRANT of a Reversion in Fee expectant on a Term of Years. THIS INDENTURE, made the of our Lord day of in the year Between [grantor], of, &c. of the one Parties. part, and [grantee], of, &c. of the other part, WHEREAS, by RECITALS indenture of demise and mortgage, bearing date the day of day of -of mortgage for years, that mortgage interest paid up debt is due, but to date. at the rate of £5 per cent. per annum, on the then next, but in payment whereof default was made. AND WHEREAS the said sum of £ is still due to the said [mortgagee], on the security of the said recited indenture, but all interest for the same has been paid up to and inclusive of the day of the date hereof. AND WHEREAS the said [grantor] —of contract for has contracted with the said [grantees] for the absolute sale to the mortgage. them of the said messuage, lands, and hereditaments, with the appurtenances, subject to the mortgage made thereof by the said recited indenture, at the price of £. (39) Now (39) The money due upon the mortgage forms part of the consideration upon which the ad valorem duty is imposed by the act 55 Geo. 3, c. 184. It often happens that where the principal and interest due upon a mortgage exceed the value of the property, and the mortgagor has no other means of payment, an arrangement is made for an absolute release sale, subject to Stamp on release of equity of redemption in satisfaction of a mortgate debt. TESTATUM. Consideration. Parcels. THIS INDENTURE WITNESSETH, that in pursuance of the said contract, and in consideration of the sum of £— of lawful British money paid by the said [grantees] to the said [grantor], on the execution of these presents, the receipt whereof the said [grantor] acknowledges, and therefrom releases and discharges the said [grantees], their heirs, executors, administrators, and assigns, by these presents; and also in consideration of the covenant on the part of the said [grantees] hereinafter contained for payment of the said mortgage debt of £, and the interest henceforth to accrue due for Operative words. the same, The said [grantor] Hath granted and confirmed, and by these presents Doth grant and confirm unto the said [grantees], his heirs and assigns, All [parcels], Together with all the rights, members, and appurtenances to the said messuage, lands, hereditaments, and premises belonging or appertaining. And also all the reversion in fee-simple, equity of redemption, and other estate, right, title, interest, claim, and demand of the said [grantor], in, to, out of, or upon the said premises, and every part thereof. And also all deeds, muniments, and evidences of title in his custody or power relating thereto solely or together with other hereditaments of less value, To HAVE AND TO HOLD the said messuage, to grantees as lands, hereditaments, and premises hereby granted, or injoint tenants in tended so to be, unto and to the use of the said [grantees], their heirs and assigns for ever, subject to the mortgage made by the said recited indenture. And the said [grantees], for themselves, their heirs, executors, and administrators, hereby jointly covenant, and each of them for himself, hist heirs, executors, and administrators, hereby severally covenants with the said [grantor], his heirs, executors, and ad All estate, &c. Deeds, &c. HABENDUM fee, subject to the mortgage. Covenant by grantees to pay mortgage debt and interest, and indemnify gran tor. of the equity of redemption, in consideration simply of a release of the debt; but as the effect of such an arrangement is to convert the mortgagee into a purchaser, the ad valorem duty on conveyances upon sales must be paid in respect of the whole amount of the debt so satisfied; at least there does not appear to be any other safe and effectual mode of accomplishing the object. grantor, convey, ministrators, that the said [grantees], their heirs, executors, administrators, or assigns, will or shall pay and discharge the said sum of £- so due to the said [mortgagee] as aforesaid, and all interest henceforth to become due for the same, and will or shall, at all times hereafter, effectually keep indemnified the said [grantor], his heirs, executors, and administrators, and his and their estate and effects, against the payment of the same sum and interest, and against all accounts, claims, demands, actions, suits, proceedings, costs, losses, damages, and expenses in respect thereof or in relation thereto. And the said [grantor], for himself, his heirs, Covenants by executors, and administrators, hereby covenants with the said [grantees], their heirs and assigns, that notwithstanding any act, matter, or thing done or permitted by the said [grantor] to the contrary, the said [grantor] has in himself good right by these presents to grant or otherwise assure the for right to said messuage, lands, hereditaments, and premises unto the said [grantees], their heirs and assigns, subject as aforesaid, and in manner aforesaid. And also that the same premises quiet enjoyshall or may be held, enjoyed, and disposed of accordingly, without any eviction, interruption, or denial from or by the said [grantor], or any person or persons rightfully claiming or to claim any estate, right, title, or interest through, under, or in trust for him, Free and clear, or by the said [grantor], -freedom from his heirs, executors, or administrators, effectually kept indemnified from or against all former or other estates, rights, titles, charges, and incumbrances created or occasioned by the said [grantor], or any person or persons claiming or to claim through, under, or in trust for him, or by his act, default, privity, or procurement (except the said mortgage). And lastly, that the said [grantor], and every person having or rightfully claiming or to claim any estate, right, title, or interest, through, under, or in trust for him, will, at any time or times, at the request and costs of the said [grantees], their heirs or assigns, do and execute every such act, deed, eonveyance, or assurance for more effectually assuring the ment, incumbrances, -further assur ance. same premises, or any part thereof, with the appurtenances (subject as aforesaid), unto or according to the direction of the said [grantees], their heirs or assigns, as they or their heirs or assigns shall reasonably require, and shall tender to be done or executed. IN WITNESS, &c. No. 11. GRANT of a Remainder in Fee, expectant on an Estate for Parties. of our Lord RECITALS to one for life, remainder to the grantor in fee, day of, in the year Between [grantor], of, &c. of the one part, and [grantees], of, &c. of the other part. WHEREAS of will devising [name of devisor], late of, &c. deceased, by his last will and testament in writing, bearing date the day of —, in the year, duly executed and attested for passing freehold estates, and proved on the day of in the year, in the Prerogative Court of the Archbishop of Canterbury, gave and devised all his messuages, lands, and hereditaments whatsoever and wheresoever, unto [name of devisor's wife], his wife, and her assigns, during the term of her natural life, and from and after her decease, unto the said of the testator's [grantor], his heirs and assigns. AND WHEREAS the said [devisor] was, at the time of making and publishing his said will, and continued thenceforth to the time of his decease, seised of (among other hereditaments) the messuage, close, and hereditaments hereinafter described, for an estate in -of contract for fee-simple in possession therein. AND WHEREAS the said seisin. sale of the re mainder in fee. TESTATUM. [grantor] lately contracted with the said [grantees] for the sale to them of the remainder in fee-simple immediately expectant on the determination of the estate for life of the said [wife], in the said messuage, close, and hereditaments hereinafter described, with their appurtenances, at the price of £. Now THIS INDENTURE WITNESSETH, that in pur suance of the said contract, and in consideration of the sum Consideration. of £——, of lawful British money paid by the said [grantees] in equal moieties to the said [grantor], at or before the execution of these presents, the receipt of which sum the said [grantor] hereby acknowledges, and from the same sum, and every part thereof, hereby releases and for ever discharges the said [grantees], and each of them, their and each of their heirs, executors, administrators, and assigns, The said [grantor], Hath granted and confirmed, and by these presents Operative words. Doth (40) grant and confirm, unto the said [grantees], All that the remainder in fee-simple of the said [grantor] immediately expectant on the determination of the estate of the said [devisor's wife], for her life, in All [parcels], To- Parcels. gether with all the rights, members, and appurtenances whatsoever to the same messuage, close, hereditaments, and premises belonging or appertaining, TO HAVE AND TO HOLD the HABENDUM said remainder, hereby granted, or intended so to be, unto and to the use of the said [grantees], in equal moieties as tenants in common, their respective heirs and assigns for to grantees as mon in fee. tenants in com Of conveying remainders, &c. by lease and release, (40) On the sale of a freehold remainder or reversion, it is usual and proper to convey by lease and release, in order that the conveyance may be operative at all events, without regard to the subsistence of the particular estate, and that the owner may be relieved from the necessity of proving such estate to have been subsisting.-At this day, an estate of freehold or inhe--by grant. ritance, in remainder or reversion, expectant on an estate in tail, or for life, or for years, or from year to year, or any less period not being merely at will, may pass by a mere deed of grant, without attornment or inrolment.— Those to whom the word grant still comes fraught with all the terrors of an implied warranty, (but see 3 & 4 Will. 4, c. 27, s. 36,) may substitute alien and convey, for the word grant is not essential;-nor does the law, indeed, impose the necessity in framing conveyances inter vivos, any more than wills, of adhering to any word or form of words, with the exception of the word heirs, to create a fee, and the word exchange to create a warranty, &c.-Suprà, n. (17). Although there cannot be any seisin in demesne of a remainder or reversion lying in grant, yet the statute executes uses raised upon the estate of the grantee; for when the statute speaks of one person being seised to the use of another, it must be taken to embrace every part owner of the entire fee, in respect of which entire fee the immediate tenant is always seised. |