Bodalla Estate Act (NSW)

Pew South Wales.

ANNO QUADRAGESIMO NONO

VICTORIA REGINA.

An Act to enable the Trustees of the Will of?" 2" the late Thomas Sutcliffe Mort to join with certain of the beneficiaries under the sid Will in floating the pastoral property known as " Bodalla" in the county of Dampier as a Company to be called the " Bodalla Company Limited" and for that purpose to transfer the said property to the said Company and accept and hold fully paid-up shares in the said Company. [19th February, 1886. ]

ITEREAS Thomas Sutcliffe Mort late of Greenoaks near Sydney Preamble.

died on the ninth day of May one thousand cight hundred and seventy-cight leaving his will dated the twenty-cighth "day of February one thousand eight "hundred and sey enty- eight whereby" he appointe d his wife Marianne Elizabeth Mort and dames Laidley Mort Benjamin Buchanan Lesley George Herring and Charles James Manning Executors and Trustees of his will and after a certain pecuniary bequest therein mentioned he gave and bequeathed all his real and yesiduary personal estate and property of whatsoever nature and wheresoever situate to the said Trustees upon trust to sell and convert the same or so much thereof as should be of a saleable or con- vertible nature and to get in the other parts thereof with full discretionary power to suspend such sale or conversion for such period as his said Trustees should deem expedient and to permit his said wife to occupy free of rent in their present furnished

a condition

49° VIC. 1886.

Bodalla Estate.

condition until sold or otherwise disposed of his residences of Greenoaks and Bodalla with full power during the suspense of the sale conversion or getting in of his said trust estate respectively to manage and order the affairs thereof as regards carrying on letting occupation cultivation repairs insurances receipt of rent and other matters and generally to act in the said premises as if the same were their own absolute property And as to the moneys to arise therefrom Upon trust after payment of expenses and his debts funeral and testamentary expenses for investment as therein directed And the testator declared that his said Trustees should stand and be seized and possessed of his said residuary real and personal estate and the proceeds of such sale and conversion and the stocks funds and securities representing the same upon trust to divide or consider the same to be divided into ten equal parts or shares And the testator by his said will declared certain trusts as to each such tenth share such trusts being as to one of such shares for the said Marianne Elizabeth Mort absolutely as to five other of such shares respectively (in the events which have happened) for five of the sons of the testator respectively absolutely as to two other of such shares for the two daughters of the testator respectively for life with remainder to the children of his said daughters respectively as they might appoint and in default of appointment for the children equally of his said daughters respectively with remainder to the next of kin of his said daughters respectively and as to the remaining two tenth shares respectively in trust as to the income thereof or so much thereof as the said Trustees might think fit for the two younger sons of the said testator respectively until they respectively should attain the age of twenty-four years and the principal or corpus to be paid and transferred to them on their respectively attaining that age with remainder in case the said sons respectively should die before attaining the age of twenty-four years for the childern of such sons respectiv. ely equally with remainder to the next of kin of such sons respectively And whereas the said will was duly proved in the Supreme Court of New South Wales by the said Marianne Elizabeth Mort Benjamin Buchanan Lesley George Herring and Charles James Manning on the seventh day of June one thousand eight hundred and seventy-c eight leave being reserved to the said James Laidley Mort to come in "and prove but the said James Laidley Mort afterwards duly renounced probate and disclaimed the. trusts of the said will And whereas there was found in the envelope which contained the will of the said testator a document in his own handwriting but not duly executed as a will in which he expressed certain wishes which he hoped his Exceutors and Trustees would regard as fully as though embodied in his will and amogst other things the said testator wished that the Bodalla property should be retained until his youngest child attained the age of twenty-one years anc be worked under a general manager as one property for the equa benefit of all concerned And whereas the said testator left him surviving his said wife and the children mentioned in his saic will who are all now living and all the said children have attained the age of twenty-one years and all the sons of the testator have attained the age of tw enty- four years exeept the two younger sons mentioned in the said will who are of the age of eleven years and nine years respectively. And whereas the said Trustees and Executors have 'realized a large portion of the said trust estate and out of the proceeds have paid "all the testator's debts and have paid and applied considerable sums to and for the benefit of the beneficiaries under the said will in accordance with the trusts thereof And whereas the said Trustees have not realized the said Bodally property but have up to the present time worked the same and carricd on thereon the business of dairy farming and have thereby undertaken great responsibilities and