3.—(1) All estates or interests in remainder or reversion not disposed of by a settlement, and reverting to the settlor, or descending to the next‑of‑kin of a testator, shall be deemed to be estates coming to such settlor or next‑of‑kin, under or by virtue of the settlement.
(2) In determining what are settled estates, the court or a judge shall be governed by the state of facts, and by the trusts or limitations of the settlement at the time of the said settlement taking effect.
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