Two Main Types of Settlement
- Under a trust for sale, the property, which can be real or personal (land or goods), is transferred by the owner by deed or will to trustees who are obliged to sell the property and hold the proceeds of sale for the beneficiaries.
- A strict settlement can only be created over land and it was a device which was used by a landowner to keep the land within his family.
By using the device of the strict settlement the ownership of the property was divided over time by using limited freehold estates.
Read more about this topic: Settled Land Acts
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