10. On purchase of laud from a company.

(q) Above, p. 597. (r) Above, p. .597. (a) Stat. 25 & 26 Vict. c. 89. (t) Stat. 63 & 64 Vict, c. 48, s. 14.

(u) Stat. 7 Edw. VII. c. 50, s. 10.

(.x) Stat. 8 Edw. VII. c. 69, s. 93, whereby every mortgage or charge created after the 1st of July. 1908, by a company regis-tered in England or Ireland and being either (1) for the purpose of securing any issue of debentures, or [2 on uncalled capital of the company, or (3) created or evidenced by an instrument which, if executed by an individual, would require registration as a bill of sale, or (4) on any land, wherever situate, or any into rest therein, or (5 on any book debts of the company, or (6) a floating charge on the undertaking or property of the company, shall, so far as any security on the company's property or undertaking is thereby conferred, be void against the liquidator and any creditor of the company, unless registered as therein required within twenty-one days after the date of its creation, but without prejudice to any contract or obligation for repayment of the money thereby secured. This section replaced stat. 7 Edw. VII. c. 50, s. 10, which by s. 52 (3) came into operation on the 1st July, 1908, and replaced with amendments stat. 63 & 64 Vict. c. 48, s. 14, containing similar provisions but not extending to mortgages or charges made for purposes (4) and (5) above mentioned or saving the contract or obligation for repayment. See Re Harrogate Estates, Ltd., 1903, 1 Ch. 498; Cornbrook, etc. Co. v. Law Deben- ture Corpen., 1904, 1 Ch. 103: Illingworth v. Houldsworth, 1904, A.C. 365: Re Yolland, etc., Ltd., 1908, 1 Ch. 162; Bristol United, Breweries, Ltd. v. Abbot, ib. 279. Re New, London, etc Co.. ib. 621; Cunard Steamship co. v. Hoptwood, 1908, 2 Ch. 564; Wilson v. Kel land, 1910, 2 Ch. 306.

This exhausts the list of searches, which ought usually to be made; but it will be observed that of these the first three only are unquestionably necessary on every sale; though Nos. 4 and 5 are very desirable and No. 6 is perhaps advisable apart from the special circumstances which make them absolutely requisite. Nos. 7, 8, 9, and 10 need only be undertaken on the purchase of the particular kind of property which can be affected by the registered incumbrances so to be searched for. Search for disentailing assurances or certificates of the acknowledgment of deeds by married women is only necessary in the special circumstances above mentioned (c).

(y) See stat. 8 Edw. VII. c. 69, ss. 100, 101 (the latter replacing 7 Edw. VII. c. 50, 8. 17), under which this register is open to public inspection. This register was established by stat. 25 & 26 Vict. c. 89, s. 43, but was thereby-made open to the inspection of creditors and members of the company only. It was held that non-registration in this register did not avoid the charge; Wright v. Horton, 12 App. Cas. 371.

(z) Stat. 8 Edw. VII. c. 69, s. 205 (2), replacing 25 & 26 Vict, c. 89, s. 153.

(a) This is, on a winding up by the Court, the time of the presentation of the petition for winding up; and on a winding up under the supervision of the Court, the time of the passing of the resolution authorising the winding up; see stat. 8 Edw. VII. c. 69, ss. 139, 183, replacing 25 & 26 Vict. c. 89, ss. 84, 130; Weston's Case, L. R. 4 Ch. 20; Ch. Re Dry Docks Corpn., 39 Ch. D. 306; Re West Cumberland Iron Co., 40 Ch. D. 361.

(b) 1 Dart, V. & P. 566, 6th ed.; 1222, 7th ed.

(e) Above, p. 596.

It was not the practice, prior to the Land Charges Ads of 1888 (d) and 1900 (e), to direct any search to be made in respect of any of the charges or matters then necessary to be searched for - viz. judgments, writs of execution, Crown debts and process of execution, annuities, lis pendens, and assurances registered in a countyregister or enrolled in Court Rolls (f) - against the names of persons entitled previously to the date of the last purchase deed, as it was assumed that all necessary searches were made on the occasion of the last purchase (g). And the same practice prevails with respect to the matters above mentioned (h) as to which searches are now required; though in strictness it appears desirable to carry back searches Nos. 1 and 2 in every case for the whole five years before the sale and to extend searches Nos. 8 and 9 over the whole period covered by the abstract. But search should always be made against the names of all persons appearing by the abstract to have been entitled to the land sold since the date of the last purchase deed for any estate or interest which might be adversely affected by any of the incumbrances to be discovered by the search. Thus the search for writs and orders affecting-land and lis pendens should be made against the Dames of trustees or mortgagees as well as beneficial owners; for a writ, order, or suit affecting the land sold may well have been issued, made, or instituted against a trustee or mortgagee, although the judgment or Crown debts of a trustee (i) or of a mortgagee, who has been paid off (k), cannot affect the trust or mortgaged property. The same search should also be made against the names of persons entitled to a general power of appointment over the land sold or to any vested or contingent remainder or any executory interest therein, if the title depend on any exercise or release of the power or any release or conveyance of the remainder or executory interest. For under the Judgments Act, 1838, and the Land Charges Act, 1900, lands over which a man has a general power of appointment may be taken under the writ of elegit in execution of a judgment against him, and the judgment is a charge on the lands when the writ or order for enforcing it has been registered (l). Under the same Acts (l), too, a judgment is a charge on all lands to which the judgment debtor is entitled for any estate or interest at law or in equity, whether in possession, reversion, remainder, or expectancy, so soon as a writ or order for enforcing the same has been registered (m). And, although no freehold estate in reversion or remainder, not being merely expectant on a lease for years (n), can be taken in execution under a writ of elegit (o), it appears that an order for the appointment of a receiver may be made in respect of such an interest, and that such an order, though not equivalent to actual delivery in execution, may nevertheless be an order made for enforcing the judgment, and so may be sufficient, if duly registered, to give rise to the statutory charge (p). This point, however, is open to question and has not yet been decided (q), but until it be, it is advisable to make the search suggested. Life annuities are generally searched for against the names of ben<-ficial owners only: though a trustee might also create such charges valid at law, where the trust is not disclosed by the title deeds. It is of course unnecessary to search in bankruptcy against the names of trustees who have no beneficial interest, as their estates are not affected thereby (r), but mortgagees' estates are divested on their bankruptcy. Land charges registered under the Land Charges Act, 1888 (s), are entered, in the case of freeholds, in the name of the person beneficially entitled to the first estate of freehold at the time of the creation of the laud charge, and in the case of copyholds, in the name of the tenant on the Court Rolls at the time of the creation of the charge; and they must be searched for against such names. Land improvement charges created before the year 1889 must be searched for against the name of the landowner at whose instance they were made (t); generally the person beneficially entitled in possession to the rents and profits of the land.