South Australia act

The Settled Estates Act Amendment Act 1889

In ForceSA

Jurisdiction

South Australia

Collection

act

Plain English Summary

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This amendment changes the Settled Estates Act 1880 so that court orders for leases, sales or other acts under that Act cannot be set aside against a purchaser for lack of jurisdictional formality, and so the court may authorise trustees or executors to mortgage freehold property subject to a settlement that contains a trust or direction for sale. Purchasers, trustees, executors and beneficiaries are affected: the court decides whether mortgages or validations proceed, trustees can raise funds under court terms, and parties may exclude the amendment in their settlement.

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The Settled Estates Act Amendment Act 1889

South Australia The Settled Estates Act Amendment Act 1889 An Act to amend the Settled Estates Act 1880.

Contents Preamble 1 Short title 2 Order of Court not invalidated and exception in section 40 of Settled Estates Act 1880 not to apply 3 Power to mortgage freehold property 4 Act may be negatived Legislative history

Preamble WHEREAS it is expedient to amend the Settled Estates Act 1880:

The Parliament of South Australia enacts as follows: 1—Short title This Act may be cited as The Settled Estates Act Amendment Act 1889 and shall be incorporated and read as one with the Settled Estates Act 1880. 2—Order of Court not invalidated and exception in section 40 of Settled Estates Act 1880 not to apply An order of the court under any statutory or other jurisdiction shall not, as against a purchaser, be invalidated on the ground of want of jurisdiction or of want of any concurrence, consent, notice, or service, whether the purchaser has notice of any such want or not. This section shall have effect with respect to any lease, sale, or other act under the authority of the court, and purporting to be made in pursuance of the Settled Estates Act 1880, notwithstanding the exception in section 40 of that Act. 3—Power to mortgage freehold property In addition to the powers conferred upon the court by the Settled Estates Act 1880, wherever in any settlement a direction or trust for sale or conversion is given or contained, and the court shall deem it proper and consistent, with a due regard for the interests of all parties entitled, the court may, subject to such provisions and restriction as the court may think fit, authorise the trustees or the executors for the time being of any settlement, to mortgage or otherwise pledge the whole or any portion of the freehold property the subject of any such settlement; and the moneys received from any such mortgage or pledge shall be applied in such manner as the court shall from time to time direct, having due regard to such interests as aforesaid. 4—Act may be negatived This Act shall not affect any settlement made which expressly negatives the provisions of this Act. Legislative history Notes • For further information relating to the Act and subordinate legislation made under the Act see the Index of South Australian Statutes or www.legislation.sa.gov.au. Principal Act Year No Title Assent Commencement 1889 459 The Settled Estates Act Amendment Act 1889 13.11.1889 13.11.1889

Source text

Sourced from South Australian Legislation (legislation.sa.gov.au), CC BY 4.0.

1 The Settled Estates Act Amendment Act 1889

South Australia The Settled Estates Act Amendment Act 1889 An Act to amend the Settled Estates Act 1880.

Preamble WHEREAS it is expedient to amend the Settled Estates Act 1880: