Vesting order
| Vesting order |
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| See also |
Vesting order means the instrument whereby settled land is conveyed to or vested or declared to be vested in a tenant for life or statutory owner[1].
Vesting order may occur in a number of circumstances. One is where the rights, duties, obligations, rights of suit, property and other matters pertaining to a statutory corporation are transferred, for example, from a statutory corporation to the government or to another statutory corporation. Once all arrangements have been made on the ground to effect the transfer, a vesting order is made and gazetted. It will state that with effect from a certain date these matters will stand transferred. Once they are transferred, the vesting order is spent, in that it has had its effect[2].
Vesting orders of land
In any of the following cases, namely[3]:
- Where the court appoints or has appointed a trustee, or where a trustee has been appointed out of court under and statutory or express power
- Where a trustee entitled to or possessed of any land or interest therein, whether by way of mortgage or otherwise, or entitled to a contingent right therein, either solely or jointly with any other person
- Where it is uncertain who was the survivor of two or more trustees jointly entitled to or possessed of any interest in land
- Where it is uncertain whether the last trustee know to have been entitled to or possessed of any interest in land is living or dead
- Where there is no personal representative of a deceased trustee who was entitled to or possessed of any interest in land, or where it is uncertain who is the personal representative of a deceased trustee who was entitled to or possessed of any interest in land
- Where a trustee jointly or solely entitled to or possessed of any interest in land, or entitled to a contingent right therein, has been required, by or on behalf of a person entitled to require a conveyance of the land or interest or a release of the right, to convey the land or interest or to release the right, and has wilfully refused or neglected to convey the land or interest or release the right for twenty-eight days after the date of the requirement
- Where land or any interesting is vested in a trustee whether by way of mortgage or otherwise, and it appears to the court to be expedient; the court may make an order vesting land interest therein any such person.
Vesting order consequential on judgment for specific performance
Where a judgment is given for the specific performance of a contract concerning any interest in land, or for sale or exchange of any interest in land, or generally where any judgments is given for the conveyance of any interest in land either in cases arising out of the doctrine of election or otherwise, the court may declare:
- That any of the parties to the action are trustees of any interest in the land or any part thereof within the meaning of this Act,or
- That the interest of unborn persons who might claim under any party to the action, or under the will or voluntary settlement of any deceased person who was during his lifetime a party to the contract or transaction concerning which the judgment is given, are the interests of persons who, on coming into existence, would be trustees within the meaning of this Act;
and thereupon the court may make a vesting order relating to the rights of those persons, born and unborn, as if they had been trustees[4].
Footnotes
References
- Hewitson R., (2012), Property Law Statutes, Routledge, London.
- Luther P., Moran A., (2016), Core Statutes on Property Law , Macmillan International, New York.
- Simamba B.H., (2013), How To Make Effective Legislative Proposals, Author House, Ottawa.
- Thomas M., (2015), Blackstone's Statutes on Property Law, Oxford University Press, Glasgow.
Author: Klaudia Piotrowska
