The Daily Telegraph. SATURDAY, MARCH 3l, 1883.

Daily Telegraph (Napier), Issue 3654, 31 March 1883, Page 2

The Daily Telegraph. SATURDAY, MARCH 31, 1883.

The Hon. the Premier has issued " with his compliments " a copy of a Bill to be presented to the General Assembly next session. It is entitled » The Alienation of Land Act, 1883." Its provisions are as follow:—It shall not be lawful for any person, by deed made or will-taking effect after the passing of this Act, to restrain the alienation of land; aud the holder of the legal estate for the time being under and by virtue of any such deed or will shall, for the purpose of sale and exchange, be deemed to be the absolute owner thereof without any restriction. The word "person" includes the Public Trustee, and the word "laud" includes any estate or interest in real property. The mortgagor and not the mortgagee shall, for the purposes of this Act, be deemed to be the owner of the legal estate. The rights and interests of the mortgagee shall not be prejudicially affected by any alienation by the mortgagor but shall continue and remain as thou"-h this Act had not, been passed. Committees of the estates of lunatics,- including the Public Trustee, where he acts in lieu of a committee, and guardians of infants, shall> for the purposes of this Act, be deemed to be the holders of the legal estate. The money accruing from any'sale or exchange made by virtue of the powers conferred by this Act, shall mutatis mutandis, be subject to the like trusts, rights, liabilities, claims, and demands (if any) as exist in respect of the land, and subject thereto shall bo paid to trustees, if there be any, of the land sold ; and if not, then to the Public Trustee, to bo invested hy them or him, as the case may be. The investment by such trustees shall be in accordance with the provisions (if any) of the deed or will under which they are acting'; and if there be no such provisions, then on any securities on which the Public Trustee is authorised for the time being to invest trust funds under his charge or control. The receipt hi writing of any person to whom any money shall become payable by virtue of this Act shall effectually discharge the person paying the same from seeing- to tho application or being answerable for tho misapplication or non-application thereof, and from inquiry into the necessity or propriety of any transaction in consequence whereof such money may have become payable. Nothing jiu this Act contained shall be held or construed to prevent any man giving an estate in land to his wife during her life or widowhood, or to prevent any woman from givingher husband an estate iv land during his life, or so long as he shall remain a ■widower.