March 1648: An Ordinance for removing Obstructions in the sale of Reversions of Bishops Lands.

March, 1647/8

[17 March, 1647/8.]

Whereas some doubts have been made by the Contractors for the sale of the Lands, Possessions, and Hereditaments of the late Arch-Bishops and Bishops, upon the construction of some words, or Clauses in the Ordinances for the sale of the said Lands, concerning the proportion of values between Land in possession and reversion after lives and years, by reason of which the sale of the said Lands hath been obstructed;

Rates under which Reversions for lives shal not be sold.

The Lords and Commons in Parliament Assembled do Ordain and Declare, and be it Ordained and Declared, That the Reversion of the said Lands and Hereditaments, upon a Lease for one Life, shall not be sold under five years Purchase, and the Reversion of such Lands upon a Lease for two Lives shall not be sold under three years Purchase, and that the Reversion of such Lands upon a Lease for three Lives shall not be sold under two years Purchase; and all other Reversions of the said Lands for more than three Lives: and the Reversion where any Tenant or Tenants of the said Premisses claim and have a right to have a customary estate in Reversion, or by the Custome, may grant or make Leases for Life or Lives; the said Contractors are hereby enabled and authorized to Contract for, and sell proportionably.

Rates under which Reversions for years shall not be sold.

And be it ordained and declared by the Authority aforesaid, That the Reversion of the said Lands and Hereditaments, upon a Lease for seven years, shall not be sold under five years, and one half years Purchase, and that the Reversion of such Lands upon a Lease for fourteen years, shall not be sold under three years and one halfs Purchase; and that Reversion of such Lands upon a Lease for one and twenty years, shall not be sold under two years and one halfs Purchase; and all other Reversions upon Leases for more or fewer years, the said Contractors are hereby authorized to contract for, and sell proportionably to this rule.

The Contractors may sell at these proportions.

And the said Lords and Commons do ordain and declare, That the aforementioned proportions shall be the rule of proportion for proportioning Reversions, upon Leases for Lives and years, to Lands in possession at ten years Purchase; And the said Contractors are hereby Authorized to contract for, and sell the said Reversions, according to the aforementioned rules of proportion, any Order or Ordinance of Parliament, or any word or clause in any Order or Ordinance of Parliament to the contrary in any wise notwithstanding.