- Y Diweddaraf sydd Ar Gael (Diwygiedig)
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Law of Property Act 1925
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Rhagor o Adnoddau
Changes over time for: Section 32
Version Superseded: 01/01/1997
Alternative versions:
- 01/02/1991- Amendment
- 01/02/1991
Point in time - 01/01/1997- Amendment
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Point in time view as at 01/02/1991. This version of this provision has been superseded.
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Law of Property Act 1925, Section 32 is up to date with all changes known to be in force on or before 14 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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32 Implied trust for sale in personalty settlements.E+W
(1)Where a settlement of personal property or of land held upon trust for sale contains a power to invest money in the purchase of land, such land shall, unless the settlement otherwise provides, be held by the trustees on trust for sale; and the net rents and profits until sale, after keeping down costs of repairs and insurance and other outgoings, shall be paid or applied in like manner as the income of investments representing the purchase-money would be payable or applicable if a sale had been made and the proceeds had been duly invested in personal estate.
(2)This section applies to settlements (including wills) coming into operation after the thirty-first day of December, nineteen hundred and eleven, and does not apply to capital money arising under the Settled Land Act, 1925, or money liable to be treated as such.
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