It would be an inhuman law which required trustees to adhere to some mechanical rule for preserving the real value of the capital when the tenant for life was the testator's widow who had fallen upon hard times and the remainderman was young and well off . }}
12.
They are for example entitled to take into account the income needs of the tenant for life or the fact that the tenant for life was a person known to the settlor and a primary object of the trust whereas the remainderman is a remoter relative or a stranger.
13.
They are for example entitled to take into account the income needs of the tenant for life or the fact that the tenant for life was a person known to the settlor and a primary object of the trust whereas the remainderman is a remoter relative or a stranger.
14.
Whether the first devisee was tenant for life, or in tail, is a question proper to be considered, and the determination of that point will certainly give great light into this matter, and clear the way towards the construction of the will on the other point, in the manner it has been insisted on.
15.
Section 25 of the 1882 Act defines the tenant for life as " the person who is for the time being, under a settlement, beneficially entitled to possession of settled land, for his life & " usually the person entitled to the life estate in possession or entitled to the fee tail in possession.
16.
On his death, Henry Wigley, who also assumed the name Greswolde, became tenant for life under the will of Henry Greswolde Lewis, and he and his son, Edmund Greswolde, who was tenant in line, barred the estate in tail and conveyed the estates to the use of Henry Greswolde for life, with remainder to Edmund Greswolde in fee simple.
17.
Under s . 54 on a sale, exchange, lease or mortgage a bona fide purchaser / lessee / mortgagee shall if dealing in good faith with the tenant for life, be conclusively taken, as against the beneficiaries of the settlement, as having paid the best price that could reasonably be obtained and to have complied with all requisitions under the acts.
18.
By s . 3 ( ii . ) of the Settled Land Act 1882, the tenant for life of a manor is empowered to sell the seignory of any freehold land within the manor, and by s . 21 ( v . ) the purchase of the seignory of any part of settled land being freehold land, is an authorized application of capital money arising under the act.
