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Insolvency Act 1986

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Changes over time for: Cross Heading: Rights under trusts of land

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No versions valid at: 26/07/1994

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Status:

Point in time view as at 26/07/1994. This version of this cross heading contains provisions that are not valid for this point in time. Help about Status

Changes to legislation:

Insolvency Act 1986, Cross Heading: Rights under trusts of land is up to date with all changes known to be in force on or before 09 March 2025. 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. Help about Changes to Legislation

Valid from 01/01/1997

[F1 Rights under trusts of land]E+W

Textual Amendments

F1S. 335A and preceding cross-heading inserted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 23 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2

F2335A Rights under trusts of land.E+W

(1)Any application by a trustee of a bankrupt’s estate under section 14 of the Trusts of Land and Appointment of Trustees Act 1996 (powers of court in relation to trusts of land) for an order under that section for the sale of land shall be made to the court having jurisdiction in relation to the bankruptcy.

(2)On such an application the court shall make such order as it thinks just and reasonable having regard to—

(a)the interests of the bankrupt’s creditors;

(b)where the application is made in respect of land which includes a dwelling house which is or has been the home of the bankrupt or the bankrupt’s spouse or former spouse—

(i)the conduct of the spouse or former spouse, so far as contributing to the bankruptcy,

(ii)the needs and financial resources of the spouse or former spouse, and

(iii)the needs of any children; and

(c)all the circumstances of the case other than the needs of the bankrupt.

(3)Where such an application is made after the end of the period of one year beginning with the first vesting under Chapter IV of this Part of the bankrupt’s estate in a trustee, the court shall assume, unless the circumstances of the case are exceptional, that the interests of the bankrupt’s creditors outweigh all other considerations.

(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 section.

Textual Amendments

F2S. 335A and preceding cross-heading inserted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 23 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2

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