on the completion of the agreement for the sale between the landlord and the Commission, the holding shall vest at once in the tenants: it then proceeds to declare that the claims of all persons interested in the land shall attach to the purchase-money in the same manner as though it were land. The duty of ascertaining these claims and distributing the purchase-money is vested in the Land Commission, who undertake the task in exchange for the 1 per cent. which they have, as above stated, deducted from the purchase-money as the cost of conducting the complete transfer of the estate from the landlord to the tenants. The difficulty of the process of dealing with the purchase-money depends, of course, on the intricacy of the title. If the vendor is the sole unencumbered owner, he is put in immediate possession of the stock constituting the price of the estate. If there are encumbrances, as is usually the case, they are paid off by the Land Commission. Capital sums are paid in full; jointures and other life charges are valued according to the usual tables. Drainage and other temporary charges are estimated at their present value, permanent rent-charges are valued by agreement, or in case of disagreement, by the Land Commission; a certain minimum number of years' purchase being assigned by the Bill to any permanent rent-charge which amounts only to one-fifth part of the rental of the estate on which it is charged, this provision being made to prevent injustice being done to the holders of rent-charges which are amply secured.