1(1)Where after the commencement of this Act a person purports to convey a legal estate in land to a minor, or two or more minors, alone, the conveyance—E+W
(a)is not effective to pass the legal estate, but
(b)operates as a declaration that the land is held in trust for the minor or minors (or if he purports to convey it to the minor or minors in trust for any persons, for those persons).
(2)Where after the commencement of this Act a person purports to convey a legal estate in land to—
(a)a minor or two or more minors, and
(b)another person who is, or other persons who are, of full age,
the conveyance operates to vest the land in the other person or persons in trust for the minor or minors and the other person or persons (or if he purports to convey it to them in trust for any persons, for those persons).
(3)Where immediately before the commencement of this Act a conveyance is operating (by virtue of section 27 of the M1Settled Land Act 1925) as an agreement to execute a settlement in favour of a minor or minors—
(a)the agreement ceases to have effect on the commencement of this Act, and
(b)the conveyance subsequently operates instead as a declaration that the land is held in trust for the minor or minors.
Marginal Citations