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editAn Act for the perfect Settleing and Confirmation of the Estates, Tenures, Fines, Rents, Suites, and Services of the Tennants of the Right Honourable James Earl of Derby within this Isle of Man, passed at a Tynwald Court holden at St. John's Chappel within the said Isle the 4th Day of February, in the Year of our Lord 1703.
A. W. Moore, M.A. (Trinity College, Cambridge, Speaker of the House of Keys wrote in his History of the Isle of Man (T. FISHER UNWIN, 1900) :
The Act of Settlement in 1704 (sic) An Act, called the "Act of Settlement," embodying these proposals, was passed on the 4th of February following, and it was promulgated at Tynwald on the 6th of June. It is a compact, like Magna Charta, between a feudal sovereign and his vassals. Its substance is briefly as follows: The earl, on his part, declared and confirmed to his tenants " their ancient customary Estates of Inheritance in their respective Tenements, descendable from Ancestor to Heir according to the Laws and Customes of the Isle." 67
The tenants, on their part, covenanted to pay to the earl "the same fines which they severally and respectively paid for their several and respective tenements . . . at the Generall Fining" in 1643.68 If any of the lives were still in being, then only two thirds of the general fine was to be paid. Upon any future change by succession or alienation, one-third of the same was to be paid, and, if it were by death of a tenant, twelve months were to be allowed to pay it in. Minor holdings, such as cottages, " milnes " and intacks, were included under the same rule, also the abbey lands, subject to the payment of the same fines as in 1666, and to the " yielding, paying, performing, and doing the annuall rents, customes, suites, and services as formerly and anciently accustomed." 69
As regards the tenants of the lord's lands, it was also agreed that the double money rents of the quarter-lands, together with all other rents, suits, and services, were to be paid as arranged in 1643. But no change was made in the money rents of the tenants of the abbey lands, who continued to pay the single rent in money, but, since their money commutation for the customary payments in kind 70 was from time to time increased in value, their rents are practically equivalent to those of the tenants of the lord's lands.
Gifts, even to children, and mortgages, were to be treated as alienations, but the mortgagor was to be allowed twenty-one years from the date of his mortgage for his chance of redeeming. Clauses were subjoined bringing under the same rules any inclosures or mills hitherto uncharged, or that might come into existence in the future. Some special cases were then provided for; and it was arranged that all payments were to be in Manx currency, and that they were to be made within eighteen months after the passing of the Act. The Setting Quests in each parish had to see that the tenants' names were duly entered in the Court Rolls. Then came the enacting clauses to the effect that the before recited proposals should be law, and that the titles founded on them should remain good and firm, as against all manner of claimants. All existing dues and interests were reserved to the owners, and the military service due in time of war was expressly continued. A supplementary and explanatory Act was passed at the same time, by which it was enacted-(1) That " carriages " should be paid " as formerly accustomed, lee, four carriages from every quarter of land." 71 (2) That fraudulent bargains for letting lands, &c., for security of money, " under other notions than that of a mortgage," 72 to defraud the lord of a fine, should be considered as mortgages, unless the Court of Chancery decided otherwise. (3) That the intacks and cottages bordering the roads, which had been occupied without leave should be annexed to the farms and tenements next adjoining, their occupiers to become sub-tenants, or to retire, with such compensation as the Court of Chancery should fix. If, however, no complaint was made within eighteen months, they were not liable to removal. (4) That, though all mines and quarries were reserved for the lord, yet the tenant was to have the right of raising stone, slate, or limestone for his own or his neighbour's use, but not for the general market, without a special licence.