Re Sandes' Trusts

• Jurisdiction: Ireland
• Judgment Date: 02 November 1920
• Date: 02 November 1920
• Docket Number: (1920. No. 207.)
• Court: Court of Appeal (Ireland)

M. R., C. A.,

In re Sandes' Trusts

Dealings by beneficiaries - Necessity for notice to trustees - Priorities - Settled Land Act, 1882 (45 46 Vict., c. 38), s. 22 (5).

By the joint operation of the trusts of a marriage settlement and the will and codicil of C. S., certain lands were settled upon trust for C. S.for life, with remainder to his widow M. S.for life, with remainder to his daughter I. S.absolutely, provided she survived her mother. The lands were sold under the provisions of the Irish Land Purchase Acts, and the Public Trustee for Ireland was appointed trustee of the settlement for the purposes of the Settled Land Acts. The net residue of the purchase-money was transferred to the Public Trustee, who invested it in certain securities. I. S.mortgaged her reversionary interest in the funds to an insurance society, and by way of collateral security conveyed a policy of life assurance to the society. Notice of this mortgage was given to the Public Trustee. I. S. subsequently gave a second mortgage of the same funds to H. F., but no notice of this mortgage was given to the Public Trustee. I. S. gave a third mortgage of the funds to the said society, due notice of which was given to the Public Trustee:—Held, by Ronan and...