(1)Any person who is a trustee of land or has an interest in property subject to a trust of land may make an application to the court for an order under this section.
(2)On an application for an order under this section the court may make any such order—
(a)relating to the exercise by the trustees of any of their functions (including an order relieving them of any obligation to obtain the consent of, or to consult, any person in connection with the exercise of any of their functions), or
(b)declaring the nature or extent of a person’s interest in property subject to the trust,
as the court thinks fit.
(3)The court may not under this section make any order as to the appointment or removal of trustees.
(4)The powers conferred on the court by this section are exercisable on an application whether it is made before or after the commencement of this Act.
(1)The matters to which the court is to have regard in determining an application for an order under section 14 include—
(a)the intentions of the person or persons (if any) who created the trust,
(b)the purposes for which the property subject to the trust is held,
(c)the welfare of any minor who occupies or might reasonably be expected to occupy any land subject to the trust as his home, and
(d)the interests of any secured creditor of any beneficiary.
(2)In the case of an application relating to the exercise in relation to any land of the powers conferred on the trustees by section 13, the matters to which the court is to have regard also include the circumstances and wishes of each of the beneficiaries who is (or apart from any previous exercise by the trustees of those powers would be) entitled to occupy the land under section 12.
(3)In the case of any other application, other than one relating to the exercise of the power mentioned in section 6(2), the matters to which the court is to have regard also include the circumstances and wishes of any beneficiaries of full age and entitled to an interest in possession in property subject to the trust or (in case of dispute) of the majority (according to the value of their combined interests).
(4)This section does not apply to an application if section 335A of the M1Insolvency Act 1986 (which is inserted by Schedule 3 and relates to applications by a trustee of a bankrupt) applies to it.
Marginal Citations