To A. for life.

To trustees during his life to preserve contingent remainders.

(t) 8 & 9 Vict. c. 106.

(u) Ante, pp.153, 154..

In a former part of this volume we have spoken of equitable or trust estates (V). In these cases, the whole estate at law belongs to trustees, who are accountable in equity to their cestuis que trust, the beneficial owners. As equity follows the law in the limitation of its estates, so it permits an equitable or trust estate to be disposed of by way of particular estate and remainder, in the same manner as an estate at law. Contingent remainders may also be limited of trust estates. But between such contingent remainders, and contingent remainders of estates at law, there was always this difference, that whilst the latter were destructible, the former were not(y). The destruction of a contingent remainder of an estate at law depended, as we have seen, on the ancient feudal rule, which required a continuous and ascertained possession of every piece of land to be vested in some freeholder. But in the case of trust estates, the feudal possession remains with the trustee (z). And, as the destruction of contingent remainders at law defeated, when it happened, the intention of those who created them, equity did not so far follow the law as to introduce into its system a similar destruction of contingent remainders of trust estates. It rather compelled the trustees continually to observe the intention of those whose wishes they had undertaken to execute. Accordingly, if a conveyance had been made unto and to the use of A. and his heirs, in trust for B. for life, and after his decease in trust for his first and other sons successively in tail, - here the whole legal estate would have been vested in A., and no act that B. could have done, nor any event which might have happened to his equitable estate, before its natural termination, could have destroyed the contingent remainder directed to be held by A. or his heirs in trust for the eldest son.

To A.'s first and other sons in tail.

Trust estates.

Contingent remainders of trust estates were indestructible.

(x) See the chapter on Uses and Trusts, ante, p. 155 et seq.

It may be proper to mention in this place, that an act has been passed for granting duties on succession to property on the death of any person dying after the 19th of May, 1853, the time appointed for the commencement of the act (a). These duties are as follows: - where the successor is the lineal issue or lineal ancestor of the predecessor, the duty is at the rate of one per cent, on the value of the succession; if a brother or sister, or a descendant of a brother or sister, three per cent.; if a brother or sister of the father or mother, or a descendant of such a brother or sister, five per cent.; if a brother or sister of the grandfather or grandmother of the predecessor, or a descendant of such a brother or sister, six per cent.: and if the successor shall be in any other degree of collateral consanguinity to the predecessor, or shall be a stranger in blood to him, the duty is ten per cent. (b). The interest, however, of a successor to real property is considered to be of the value of an annuity equal to the annual value of such property during his life, or for any less period during which he may be entitled; and every such annuity is to be valued, for the purposes of the act, according to tables set forth in the schedule to the act; and the duty is to be paid by eight equal half-yearly instalments, the first to be paid at the end of twelve months after the successor shall have become entitled to the beneficial enjoyment of the property; and the seven following instalments are to be paid at half-yearly intervals of six months each, to be computed from the day on which the first instalment shall have become due. But if the successor shall die before all such instalments shall have become due, then any instalments not due at his decease shall cease to be payable; except in the case of a successor who shall have been competent to dispose by will (c) of a continuing interest in such property, in which case the instalments unpaid at his death shall be a continuing charge on such interest in exoneration of his other property, and shall be payable by the owner for the time being of such interest (d).

The Succession Duty Act, 1853.

(y) Fearne, Cont. Rem. 321.

(z) See Chapman v. Blissett, Cas. temp. Talbot, 145, 151; 'Hopkins v. Hopkins, Cas. temp. Talbot, 52 n..

(a) Stat. 16 & 17 Vict. c. 51; Wilcox v. Smith, 4 Drew. 40;

Attorney-Gen. v. Lord Middie-ton, 3 II. & N. 125; Attorney-Gen. v. Sibthorpe, 8 H. & N. 424; Attorney-Gen. v. Lord Bray-brook,, - H. & N. 488;9 H. of L. Cas. 150; Attorney-Gen. v. Smythe, 9 H. of L. Cas. 498.

(b) Stat. 16 & 17 Vict. c. 51, s. 10.

(c) Attorney-Gen. v. Hallett, 2 H. & N. 368.

(d) Stat. 16 & 17 Vict. c. 51, s. 21.