Again, it is common in England for a large landed proprietor to execute settlements on his marriage. He is, perhaps, the uncontrolled and absolute owner of a great property. To save his family from the accidents of life to ■which all other families are subject, he deprives himself of that power. He vests his property in trustees who pay to him the rental during his life with directions to pay portions of it to Ms widow and children at his death, while the ownership, or rather a new life interest, is bequeathed to his son. He is no longer able to break up the estate. His interest is for life onl} 7 -. His successor is in the same position with the addition that he must pay from the rent certain incomes to others of the family. He cannot break up the property however much he might desire to do so. Probably he repeats the process and creates new settlements. Thus the estate is saved in the family and is not liable either for the debts, or the mismanagement, or the wrong doing of any of its possessors.
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Bibliographic details
Observer, Volume 2, Issue 37, 28 May 1881, Page 400
Word Count
187Untitled Observer, Volume 2, Issue 37, 28 May 1881, Page 400
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