Source: http://www.legislation.gov.uk/cy/ukpga/Geo5/15-16/20/part/I/crossheading/trusts-of-land
Timestamp: 2019-10-19 23:23:48
Document Index: 227689481

Matched Legal Cases: ['art.2', 'art.2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art.2', 'art. 2', 'art.2', 'art.2', 'art.2', 'art. 2', 'art.2']

Newidiadau dros amser i: Cross Heading: Trusts of land
Law of Property Act 1925, Cross Heading: Trusts of land yn gyfredol gyda’r holl newidiadau y gwyddys eu bod mewn grym ar neu cyn 20 Hydref 2019. Mae newidiadau a all gael eu dwyn i rym yn y dyfodol. Mae newidiadau a wnaed yn ymddangos yn y cynnwys a chyfeirir atynt trwy anodiadau.
[F1 Trusts of land]E+W
F1S. 24 (and the heading immediately preceding it) substituted (1.1.1997) for s. 24 by 1996 c. 47, s. 25(1), Sch. 3 para. 4(7) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
[F224 Appointment of trustees of land.E+W
F2S. 24 (and the heading immediately preceding it) substituted (1.1.1997) for s. 24 by 1996 c. 47, s. 25(1), Sch. 3 para. 4(7) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F3S. 25 repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
F4S. 26 repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
27 Purchaser not to be concerned with the trusts of the proceeds of sale which are to be paid to two or more trustees or to a trust corporation.E+W
[F5(1)A purchaser of a legal estate from trustees of land shall not be concerned with the trusts affecting the land, the net income of the land or the proceeds of sale of the land whether or not those trusts are declared by the same instrument as that by which the trust of land is created.]
[F6(2)Notwithstanding anything to the contrary in the instrument (if any) creating a [F7trust] of land or in [F7any trust affecting the net proceeds of sale of the land if it is sold], the proceeds of sale or other capital money shall not be paid to or applied by the direction of fewer than two persons as [F7trustees], except where the trustee is a trust corporation, but this subsection does not affect the right of a sole personal representative as such to give valid receipts for, or direct the application of, proceeds of sale or other capital money, nor, except where capital money arises on the transaction, render it necessary to have more than one trustee.]
F5S. 27(1) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(8)(a) (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
F6S. 27(2) substituted by Law of Property (Amendment) Act 1926 (c. 11), Sch.
F7Words in s. 27(2) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(8)(b)(i)(ii)(iii) (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
F828. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W
F8S. 28 repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
F929. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W
F9S. 29 repealed (1.1.1997) by 1996 c. 47, ss. 9(9), 25(2), Sch. 4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
F1030. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W
F10S. 30 repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch. 4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
31 [F11Trust] of mortgaged property where right of redemption is barred.E+W
(1)Where any property, vested in trustees by way of security, becomes, by virtue of the statutes of limitation, or of an order for foreclosure or otherwise, discharged from the right of redemption, it shall be held by them [F12in trust—
(b)if the property is sold, to apply the net proceeds of sale, after payment of costs and expenses, in the same manner as repayment of the mortgage debt would have been applicable.]
[F13(2) Subsection (1) of this section] operates without prejudice to any rule of law relating to the apportionment of capital and income between tenant for life and remainderman.
[F15(4)Where—
the trustees shall execute such a vesting deed.]
(5)This section applies whether the right of redemption was discharged before or after the first day of January, nineteen hundred and twelve, but has effect without prejudice to any dealings or arrangements made before that date.
F11Word in s. 31 sidenote substituted (1.1.1997) by 1996 c.47, s. 5(1), Sch. 2 para. 1(6)(7) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F12S. 31(1)(a)(b) and preceding words substituted (1.1.1997) by 1996 c. 47, s. 5(1), Sch. 2 para. 1(2)(7) (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
F13Words in s. 31(2) substituted (1.1.1997) by 1996 c. 47, s. 5(1), Sch. 2 para. (1)(3)(7) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F14S. 31(3) repealed (1.1.1997) by 1996 c. 47, ss. 5(1), 25(2), Sch. 2 para. 1(4)(7), Sch. 4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F15S. 31(4) substituted (1.1.1997) by 1996 c. 47, s. 5(1), Sch. 2 para. 1(5)(7) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F1632. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W
F16S. 32 repealed (1.1.1997) by 1996 c. 47, ss. 5(1), 25(2), Sch. 2 para. 2(1)(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
33 Application of Pt. I. to personal representatives.E+W
The provisions of this Part of this Act relating to [F17trustees of land] apply to personal representatives holding [F17land in trust], but without prejudice to their rights and powers for purposes of administration.
F17Words in s. 33 substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(9)(a)(b) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2