This section is from the book "Real Property, An Introductory Explanation Of The Law Relating To Land", by Alfred F Topham. Also available from Amazon: The New Law Of Property.
(5) The trustees may after the death of the said Arthur Smith or in his lifetime at his request in writing by the ways and means aforesaid or any of them raise any sum or sums of money not exceeding altogether one-half of the then expectant or presumptive portion under the trusts aforesaid of any son who may become a portionist and pay or apply the money so to be raised for the advancement or benefit of that possible portionist as the said Arthur Smith during his life and after his death as the Trustees shall think fit. Provided always that in any and every case in which an advance shall be made in exercise of the power hereinbefore last contained that advance shall if the child advanced shall live to become entitled to a portion be treated as part of that portion but if that child shall die without becoming entitled to a portion then if the death of that child shall not lessen the sum hereby directed to be raised for portions, the sum advanced shall be treated as a part of that directed to be raised for portions but if the death of that child shall lessen the sum directed to be raised for portions the sum advanced shall be treated as a charge on the estate in addition to the lessened sum which shall have become raiseable for portions.
(6) The Trustees may at any time or times before any portion or part of a portion for payment whereof respectively money may be likely to be thereafter needed shall be required (but during the life of the said Arthur Smith only with his consent in writing) raise the whole or any part or parts of the portions fund although it may not then be certain whether all or any of the money so raised may eventually be required.
5. Subject to the trusts hereinbefore contained and to the rights of the Trustees respectively and of the executors or administrators of them respectively by any of the ways or means whereby the Trustees are hereinbefore authorised to raise money for portions to raise and reimburse themselves or himself all costs and expenses incurred in relation to the trusts aforesaid the Trustees shall permit the person or persons who may for the time being be entitled to the remainder or reversion of the hereditaments comprised in the said term of 500 years expectant on the determination thereof to receive for his and their own use and benefit so much of the same rents and profits as shall from time to time remain after answering the trusts aforesaid.
(Here would follow clauses giving power to appoint new trustees and making the trustees trustees for the purposes of the Settled Land Acts, etc., for which see "Encyclopedia of Forms," vol. 13, p. 306, et seq.)
Real Property is frequently settled as personalty. In such a case it is conveyed to trustees on trust for sale, and the proceeds of sale are settled upon the husband, wife and issue. The trustees have power to postpone the sale, and in the meantime to apply the rents and profits in the same way as the income of the proceeds of sale.
For a form of such a settlement see "Encyclopaedia of Forms," vol. 13, p. 496, et seq.