Practical compliance with the Settled Land Act 1958 requires careful identification of the settlement and the relevant actors, and strict adherence to the procedural requirements before any dealing. The following steps should be taken. Step 1: Determine whether the land is settled land. Examine the instruments of title to see if any deed, will, or other instrument creates limitations by way of succession, an entailed interest, a determinable fee, a fee-simple subject to an executory limitation, or a life interest. Also check if a minor is entitled in fee-simple or if a married woman is subject to a restraint on anticipation (s 8). If the land is held on trust for sale, it is not settled land (s 9). Step 2: Identify the tenant for life or statutory owner. The person of full age in possession for life is the tenant for life (s 12). If there is no such person, the trustees of the settlement have the powers of a tenant for life (s 19). If a minor holds possession, the trustees act on his behalf (s 26). Step 3: Identify the trustees of the settlement. Follow the cascading list in s 30: look first for persons with a power of sale of the settled land; then persons declared trustees for Act purposes; then persons with a power of sale over other land under the same limitations; then persons with a future power of sale; then persons appointed by deed by those together able to dispose of the land. If none, the personal representatives of the deceased settlor become trustees (s 30(3)). Ensure there are at least two trustees (or a trustee company) to receive capital money (s 94). Step 4: For any proposed transaction, give notice to the trustees. The tenant for life must send a registered letter to each trustee (and their legal practitioner if known) at least one month before the transaction is to take place, accompanied by a statement of particulars sufficient to enable the trustees to decide whether to give consent (s 101). The notice is not required for a lease of 21 years or less at best rent without fine (s 42(5)), but is required for sales, exchanges, partitions, mortgages, charges, and longer leases. Step 5: Obtain the consent of the trustees (or a court order) for the specific transaction. The Act requires consent for sale, exchange, partition (s 38), leases other than those excepted (s 41), surrenders and regrants (s 52), acceptance of leases (s 53), grants of water rights and public/charitable purposes (ss 54, 55), compromises (s 57), variations of leases and covenants (ss 58, 59), raising money by mortgage (s 71), and many others. The consent should be in writing and recorded. If consent is withheld and the tenant for life considers it arbitrary, an application to the Court may be made under s 93. Step 6: Ensure the transaction complies with the substantive requirements. Sales must be for the best consideration reasonably obtainable (s 39). Leases must be by deed, take effect in possession within 12 months, reserve the best rent, and contain a covenant for payment of rent and a re-entry condition (s 42). Building leases require building agreements (s 44). Mining leases must capitalise part of the rent (s 47). Step 7: Ensure capital money is paid to the trustees. On a sale, the purchase money must be paid to the trustees (or into court) (s 48(d), s 75). The trustees must invest or apply the capital money only in the modes authorised by s 73 (e.g., government securities, discharge of incumbrances, purchase of land). The tenant for life must not receive capital money directly. Step 8: For improvements, submit a scheme to the trustees or court (s 84). Obtain a certificate from a competent engineer or surveyor certifying that the work has been properly executed, and the amount payable. For improvements in Part III of the Second Schedule, ensure the capital money is repaid by instalments out of income unless the improvement is authorised by the settlement (s 84(4)). Step 9: Maintain records. The tenant for life should keep copies of all notices, consents, court orders, and certificates. The trustees must keep records of capital money received and invested. Step 10: If in doubt, apply to the Court for directions. Section 92 allows any person interested to apply for the Court’s decision or directions on any matter relating to the exercise of powers. This is particularly important when the tenant for life is a sole trustee (s 20), when the tenant for life wishes to deal with himself (s 68), or when there is a dispute with the trustees. Step 11: Comply with the Transfer of Land Act 1958. If the land is under Torrens title, the dealing must be effected by the appropriate form of transfer or lease, and registered in accordance with that Act (s 5). Step 12: Do not attempt to contract out of the Act. Any provision in a settlement that restricts the tenant for life’s powers is void (s 106), and any contract not to exercise powers is void (s 104). The tenant for life should not agree to such restrictions.