The following Private Client guidance note Produced in partnership with Charles Russell Speechlys provides comprehensive and up to date legal information covering:
A strict settlement is a settlement of land falling under the Settled Land Act 1925 (SLA 1925).
Some strict settlements are in an elaborate form that was evolved by lawyers over hundreds of years as a convenient way of holding a family’s landed estate. Other strict settlements are in a much simpler form.
The general scheme of the 1925 property legislation was that, where land was held in trust, it was either subject to a strict settlement or a trust for sale (however, some bare trusts of land fell into neither category). The assumption underlying the 1925 legislation was that a strict settlement would be the normal method of settling land which was to be retained in the long term but in practice strict settlements had largely been superseded by trusts for sale, even before the enactment of the Trusts of Land and Appointment of Trustees Act 1996 (TOLATA 1996).
This legislation introduced a new form of trust of land, the trust of land. Existing trusts for sale were converted into trusts of land. No further strict settlements may be created after the coming into force of TOLATA 1996 (1 January 1997). However, pre-existing strict settlements continue to be governed by SLA 1925 so long as any land is retained
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