Sir John Muir of Deanston, Baronet, died in August 1903, leaving a trust-disposition and settlement by which he disponed to trustees his whole estate heritable and moveable.īy the tenth purpose of the trust-disposition and settlement, Sir John, inter alia, directed his trustees to pay or make over to his sons who had attained twenty-five years of age at the time of his death and to his younger sons on their respectively attaining that age one-half of their respective shares of the residue of his estate and to set apart, hold and invest the other half of the shares of his sons and the whole shares of his daughters in the names of his trustees for behoof of his sons and daughters respectively in liferent for their liferent alimentary use only, and for behoof of the lawful children or remoter issue of his sons and daughters in such shares and proportions and subject to such conditions and limitations (including the restriction of the share of any child or remoter issue to a liferent) as his sons and daughters might respectively appoint, and, failing such appointment, equally among such children or remoter issue and the survivors and survivor of them per stirpes share and share alike in fee.
9, not by the granter's settlement which conferred the power to make the appointment, but by the deed of the donee, by which that power was exercised and that, accordingly, as both children were in life at the date of their father's trust-disposition and settlement, the liferents constituted by that deed continued effective according to their terms after the beneficiaries had reached majority. Held that the liferents were "constituted" within the meaning of sec. In a question whether on reaching majority these children had become entitled to the fee of the appointed fund, in virtue of the provisions of sec. He died in 1922, survived by two children, both of whom were born after their grandfather's death, and both of whom reached majority. "īy his trust-disposition and settlement a testator, in the exercise of a power of appointment conferred upon him by his father's settlement, directed his father's trustees to hold a fund in which he himself was liferented for his children in liferent and for their children and remoter issue per stirpes, as they might appoint, in fee.
#REMOTER ISSUE TRUST DEED FULL#
9, enacts that "It shall be competent to constitute or reserve by means of a trust or otherwise a liferent interest in moveable and personal estate in Scotland in favour only of a person in life at the date of the deed constituting or reserving such liferent, and, where any moveable or personal estate in Scotland shall, by virtue of any deed dated after the 31st day of July 1868 (the date of any testamentary or mortis causa deed being taken to be the date of the death of the granter ) be held in liferent by or for behoof of a person of full age born after the date of such deed, such moveable or personal estate shall belong absolutely to such person.
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