Victorian Current Acts Victorian Current Acts(1) On a sale, exchange, partition, lease, mortgage, charge or other disposition, the tenant for life may, as regards land sold, given in exchange, or on partition, leased, mortgaged, charged, or otherwise disposed of, or intended so to be, or as regards easements, or other rights or privileges sold, given in exchange, or on partition, leased, mortgaged, or otherwise disposed of, or intended so to be, effect the transaction by deed for the estate or interest the subject of the settlement or for any less estate or interest to the uses and in the manner requisite for giving effect to the sale, exchange, partition, lease, mortgage, charge or other disposition.
(2) Such a deed, to the extent and in the manner to and in which it is expressed or intended to operate and can operate under this Act, is effectual to pass the land conveyed, or the easements, rights, privileges, or other interests created, discharged from all the limitations, powers and provisions of the settlement, and from all estates, interests and charges subsisting or to arise thereunder, but subject to and with the exception of—
(a) all estates, interests and charges having priority to the settlement; and
(b) all such other estates, interests and charges as have been conveyed or created for securing money actually raised at the date of the deed; and
(c) all leases and grants at fee-farm rents or otherwise, and all grants of easements, or other rights or privileges which were before the date of the deed granted or made for value in money or money's worth, or agreed so to be, by the tenant for life, or statutory owner or by any of his predecessors in title, or any trustees for him or them, under the settlement, or under any statutory power, or are at that date otherwise binding on the successors in title of the tenant for life or statutory owner.
S. 72(3) amended by No. 6505 s. 2.
(3) [18] Where a lease is by this Act authorized to be made by writing under hand only, such writing shall have the same operation under this section as if it had been a deed.
_______________
PART III—INVESTMENT OR OTHER APPLICATION OF CAPITAL MONEY
No. 3771 s. 73.