162. Settled land.

The Trusts of Land and Appointment of Trustees Act 1996 abolished the creation of new strict settlements (with very limited exceptions) on or after 1 January 19971; however, settlements created before that date are unaffected by the legislation. Land which is held under the Universities and College Estates Act 1925 will continue to be settled land and is unaffected by the 1996 Act2.

The tenant for life is the person in whom the legal estate in settled land is vested via the vesting instrument. In cases where there is no tenant for life, or he is a minor, the legal