Instant Access To 100,000+ Essays!

Introduction Land through the ages was one of the most important measures of wealth. All the benefits associated with the upper class in the UK were tied up with land. Peerage and the right to vote were the most important of these but land was also a status of wealth and power. The onset of the industrial age diminished the importance of land as a source of wealth. Stocks and shares were a new means of extracting extortionist profits. Families sought means by which to ensure that the land their families had built up remained in the family. When the land was passed from one generation to the next there were fears that an idle heir would waste the good work of generations of the family. The main tool used to prevent this was a settlement of land. S2(1) of the 1882 Settled Land Acts defines a settlement as: “… any land or any estate or interest in land, which stands for the time being limited to, or in trust for, any persons by way of succession.” Trust for sale is an example of a settlement. Real or personal property was transferred by the owner by deed or will to trustees for sale. The benefits of sale were held for future generations. In the case of land, the status associated with title was for