In re Bain (Deceased) Barker v Nairn - [1949] NZLR 726

Will — Construction — Legacy of Option to purchase Testator's Encumbered Farm Property — Purchaser to raise Mortgage thereon and give Second Mortgage to Trustees — Instruction to Trustees to "divide the proceeds of the farm equally" between Named Persons — Gift to them Subject to Option and Encumbrance — Property Law Act, 1908, s 109.