As we have seen (t), it is the purchaser's duty at his own expense to prepare a proper instrument of conveyance to himself of the property sold and to tender the same to the vendor for his execution; the vendor is bound to execute this instrument at his own expense; and where other persons than himself are necessary parties thereto, in order to convey to the purchaser the whole estate contracted for, he is bound, in the absence of stipulation to the contrary, to procure them to execute the same at his own expense. What persons are necessary parties to the conveyance will have been ascertained on the investigation of title. Every person in whom is vested any portion of the legal and equitable estate con-tracted for in the land sold, or any interest therein, must concur in the conveyance to the purchaser, unless his interest be such that it will be conveyed or defeated by the execution of some paramount trust or power intended to be exercised by the instrument of conveyance. Thus, where an unincumbered estate in fee simple is sold, all persons entitled for a vested estate either for life, in tail, or in fee, and either in possession or in remainder, to the whole or any fraction of the freehold in fee, all persons entitled to any contingent or executory interest which will or may displace or defeat any present vested estate, all mortgagees, portioners, jointresses and doweresses, all persons entitled to any term of years,continuing tenancy,rent-charge, profit a prendre or easement, and all persons interested in the property sold under any trust or equity of or by which the purchaser has notice or is bound (u), are necessary parties to the conveyance (x); unless the assurance to the purchaser is to be effected, for example, by the exercise of a power of appointment operating under the Statute of Uses or created by will, of a statutory power, such as that given by the Settled Land Act, 1882 (y), or of a trust for or power of sale on the part of trustees having the legal estate (z). And where the conveyance is to be carried out by virtue of an authority paramount to the estate or interest of some person entitled, who is not, therefore, to be made a parly thereto, care must betaken that all persons, whose estates or interests are not bound by the execution of the authority, shall concur to convey the same. Thus we have seen that on a sale under the powers given by the Settled Land Acts, there may be various estates and interests, which will not be displaced or defeated by the conveyance of the tenant for life (a); and the owners of all such estates and interests, as paramount mortgagees of the fee, mortgagees for securing money actually raised under some power or trust for the purpose contained in the settlement or assignees for value of the estate of the tenant for life (unless these last by some separate document consent to the exercise of the tenant for life's power (b)), must be required to assure by their own conveyance their estates or interests to the purchaser. So also, where the purchaser has bought at a sale made by order of a Court of Equity, he need not require the concurrence in the conveyance of any persons having equitable estates or interests, which are bound by the order for sale: but he must obtain a conveyance of the interests of all persons entitled to the legal estate in the property, or to any equitable estate or interest therein not bound by the order (c). Where the title to any land sold is such that intermediate trustees are interposed between trustees seised or possessed of the legal estate and the persons beneficially entitled, as where land has been assured to the use of A. in fee on trust for B., who is a trustee for C, the intermediate trustees are not necessary parties to the conveyance of the land, which may well be made by the trustees holding the legal estate and the persons beneficially entitled (d). The intermediate trustees, however, may possibly have acquired a lien on the land for their costs or expenses, so that their concurrence may, it seems, be required by a purchaser in order to release or acknowledge the nonexistence of any such lien (e). And if it be proposed in such cases to dispense with their concurrence, inquiry should be made of them if they claim any such lien. Here we may notice that if any necessary party to the conveyance be under any incapacity, such as that of infancy, coverture on the part of a woman, or lunacy, all due steps must be taken to secure the proper assurance of his or her estate to the purchaser, either by vesting order (f), concurrence of the husband and acknowledgment of the deed in the case of a married woman not entitled to the land as her separate property, or otherwise.

Preparation of the conveyance.

Who are necessary parties to the conveyance.

(p) Re Puekett and Smith's Con-trad, 1902, 2 Ch. 258.

(q) Re Terry and White's Contract, 32 Ch. D. 14, 23.

(r) Above, pp. 203, 353, 354.

(s) See Farebrother v. Gibson, 1 De G. & J. 602; Leyland v. Illingworth, 2 De G. F. & J.

248; below, Chap. XIV. Sec. 1.

(t) Above, pp. 35, 46, 47, 67, 73, n. (u), 578.

(u)Above, pp. 169, 237 sq. (x)See Wins. Real Prop. 452, and elsewhere, 13th ed.:

594, 595 and elsewhere, 21st ed. (y)Above, p. 306. (z) Above, p. 256.

Intermediate trustees.

(a) Above, pp. 307, 317 sg.

(b) See above, pp. 318, 310, 321 - 325.

(c) Above, pp. 471, 472.

(d) See Head v. Teynham, 1

Cox, 57;------v. Wilford. 4Rues.

372; Grainge v. Wilberforei, 5 Times L. R. 436.

(e) See above, p. 366, and n. (x).

Incapacity of any party to the conveyance.

On the side of the grantee or grantees under the conveyance, the purchaser himself is in general the only necessary party. But as we have seen (g), the vendor's obligation is to execute a conveyance of the land sold to the purchaser, or as he shall direct. The purchaser is therefore entitled to require the conveyance to be made to some other person or persons than himself, or to himself and others, and for such estates and interests as he shall direct; and the vendor is bound to assure the lands sold accordingly. It appears that in such case the vendor may in general demand that the purchaser, with whom alone he has contracted, shall be made a party to the conveyance in order to testify that he has directed the conveyance to be made to a stranger to the contract and that the vendor has duly performed his part of the contract by complying with this direction (h). But if the purchaser should have made an absolute assignment of all his interest in the contract, and the assignee have given notice of the assignment and be willing to take upon himself the whole burden of the original contract and prove his title by assignment from the purchaser, then it seems that the vendor ought to complete the contract with the assignee alone, without requiring any further concurrence of the purchaser (i). In this event, however, it is thought that the assignee could not insist on the vendor executing a conveyance which took no notice of the original contract and the assignment; for the vendor would be entitled to have the payment and receipt of the original price mentioned, and could not be made to accept any recital or statement alleging, contrary to the truth, that he had contracted with the assignee for the sale of the land (k). If the purchaser before completion re-sell the land to another, it is to the sub-purchaser's interest to obtain a conveyance direct from the vendor and taking no notice of the original contract, as this will prevent the raising in the future of any question whether the original purchaser incumbered his interest before the re-sale and the subpurchaser had notice thereof (l). Where there is no increase of price on the re-sale, the vendor may well agree to this if the original purchaser sign a memorandum authorising him to convey the land direct to and to receive payment of the price from the subpurchaser (m). But if the purchaser re-sell at an increased price, he must be a party to the conveyance in order to acknowledge the receipt of his profit on the transaction (n); for the sub-purchaser is only entitled to a conveyance on payment of the price fixed by the re-sale to the person entitled to receive it (o), and cannot of course require the vendor to accept the whole of this and pay over part of it to the original purchaser. And the price fixed by the re-sale must be stated in the conveyance, as it is on that price that the stamp duty is payable (p). Where the vendor will remain after the conveyance under some liability in connexion with the property sold, as where leasehold land subject to payment of a rent and performance of onerous covenants is sold, and the purchaser is therefore bound to enter into a covenant of indemnity (q), it is thought that the vendor is not obliged to accept the liability of the purchaser's assignee as a substitute, but may insist on having the covenant of the person, with whom alone he himself has contracted (r).