Chwilio Deddfwriaeth

Trusts of Land and Appointment of Trustees Act 1996

Status:

This is the original version (as it was originally enacted).

2(1)The Settled Land Act 1925 is amended as follows.

(2)In section 1(1)(ii)(c), after the word “fee” insert “(other than a fee which is a fee simple absolute by virtue of section 7 of the Law of Property Act 1925)”.

(3)In section 3, for the words “not held upon trust for sale which has been subject to a settlement” substitute “which has been subject to a settlement which is a settlement for the purposes of this Act”.

(4)In section 7(5), for the words “trustee for sale” substitute “trustee of land”.

(5)In section 12(1), for the words “trustee for sale” substitute “trustee of land”.

(6)In section 17—

(a)in subsection (1)—

(i)for the words “trust for sale”, in the first three places, substitute “trust of land”, and

(ii)for the words “held on trust for sale” substitute “subject to a trust of land”,

(b)in subsection (2)(c), for the words “a conveyance on trust for sale” substitute “land”, and

(c)in subsection (3), for the words “any trust for sale” substitute “a trust of land”.

(7)In section 18(2)(b), for the words “trustee for sale” substitute “trustee of land”.

(8)In section 20(1)(viii), for the words “an immediate binding trust for sale” substitute “a trust of land”.

(9)In section 30(1)—

(a)in paragraph (iii), for the words “power of or upon trust for sale of” substitute “a power or duty to sell”, and

(b)in paragraph (iv)—

(i)for the words “future power of sale, or under a future trust for sale of” substitute “a future power or duty to sell”, and

(ii)for the words “or trust” substitute “or duty”.

(10)In section 33(1), for the words “any power of sale, or trust for sale” substitute “a power or duty to sell”.

(11)In section 36—

(a)for the words—

(i)“upon the statutory trusts” in subsection (2), and

(ii)“on the statutory trusts” in subsection (3),

substitute “in trust for the persons interested in the land”,

(b)in subsection (4), for the words “trust for sale” substitute “trust of land”,

(c)for subsection (6) substitute—

(6)In subsections (2) and (3) of this section references to the persons interested in the land include persons interested as trustees or personal representatives (as well as persons beneficially interested)., and

(d)in accordance with the amendments made by paragraphs (a) to (c), in the sidenote, for the words “trust for sale of the land” substitute “trust of land”.

(12)In section 110(5), for the words “trustee for sale” substitute “trustee of land”.

(13)In section 117(1)—

(a)in paragraph (ix), for the words “not being” substitute “, but does not (except in the phrase “trust of land”) include”, and

(b)in paragraph (xxx), for the words ““trustees for sale” and“power to postpone a sale” have the same meanings” substitute “has the same meaning”.

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