A deed containing a declaration by the estate owner that his estate shall go and devolve in such a manner as may be requisite for confirming any interests intended to affect his estate and capable under this Act of subsisting as legal estates which, at some prior date, were expressed to have been transferred or created, and any dealings therewith which would have been legal if those interests had been legally and validly transferred or created, shall, to the extent of the estate of the estate owner, but without prejudice to the restrictions imposed by this Act in the case of mortgages, operate to give legal effect to the interests so expressed to have been transferred or created and to the subsequent dealings aforesaid.
The powers conferred by this section may be exercised by a tenant for life or statutory owner, trustee of land or a personal representative (being in each case an estate owner) as well as by an absolute owner, but if exercised by any person, other than an absolute owner, only with the leave of the court.
This section applies only to deeds containing such a declaration as aforesaid if executed after the commencement of this Act.
The county court has jurisdiction under this section where the land which is to be dealt with in the court does not exceed £30,000 in capital value . . .