Cohen’s Estate Act of 1873 36 Vic (NSW)

Com's Eure An Act to enable the Trustees of the Will of Mr. Michael Cohen deceased to sell certain Land in Clarence-street Sydney and to make provision for the investment of the proceeds of the sale thereof. [2 26th March,

1873.]

Preamble. HEREAS Michael Cohen late of Pitt-street Sydney licensed victualler by his last will and testament bearing date the

third day of February one thousand eight hundred and sixty-four devised all his real estate unto Sigmond Iotfnung (in the said will called Sigmund Toffman) his heirs and assigns upon certain trusts in the said will mentioned for the henefit of his wife and children And whereas the said testator died on the twenty-seventh day of January one thousand eight hundred and sixty-five leaving Priscilla Cohen his widow and eight children him surviving And w Nereas by indenture bearing date the nineteenth day of Octoher one thonsand eight hundred and seventy-one and made between the said Sigmond ILoffnung of the one part and Priscilla Cohen and Lewis Solomon of the other part the said Priscilla Cohen and Lewis Solomon were duly appointed Trustees of the said will in the place of the said Sigmond Hoffnung And whereas the said will contains no power for the Trustee or Trustees therein named or thereby to be appointed to sell the said land to grant leases thereof or to create any tenancy upon the security of which a tenant would be induced to expend money in repairs And whereas the buildings on certain land in Clarence-strect in the City of Sydney

devised by the said will are in such a dilapidated condition that they will

1873. 36° VIC.

Cohen's Estate.

will soon become wholly untenantable and thereby cease to yield an income and there are no funds belonging to the said trust estate available for the repair of the said buildings And whereas it is con- sidered that it would be highly beneficial for all parties interested in the said trust estate that the Trustees of the said will should be empowered to scll the said land in Clarence-street and to invest the proceeds of the sale thereof in the purchase of other lands in New South Wales or upon real or Government security therein Be it therefore enacted by the Queen's Most Excellent Majesty by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled and by the authority of the same as follows :—