Australian Capital Territory Current Acts

TRUSTEE ACT 1925 - SECT 26

    (1)     A trustee for sale may—

        (a)     sell all or any part of the trust property; or

        (b)     sever and sell fixtures apart from the balance of the property; or

        (c)     grant and sell any easement right or privilege of any kind over or in relation to the property; or

        (d)     impose, reserve or make binding, as far as the law permits, by covenant, condition or other means, on the whole or any part of the trust property that remains unsold, or on any property sold and on the purchaser of that property, a restriction or reservation in relation to building on, or other use of, land; or

        (e)     sell the whole or part of the trust property, either with or without—

              (i)     a grant or reservation of rights of way, rights of water, easements, rights, and privileges for or connected with building or other purposes in relation to the whole or any part of the trust property that remains unsold or to any property sold; and

              (ii)     a covenant by the purchaser of land to expend money on the land; or

        (f)     lay out and make such roads, streets and ways, to be dedicated to the public or not, and grant such easements, rights of way or rights of drainage over those roads, streets and ways, as the circumstances of the case require and the trustee thinks fit; or

        (g)     join with any other person in doing anything under paragraphs (a) to (f); or

        (h)     pay or apply capital money subject to the trust for any of the purposes mentioned in this subsection.

    (2)     The sale may be subject to any such conditions respecting title or evidence of title or other matter as the trustee thinks fit, and may be—

        (a)     either subject to prior charges or not; or

        (b)     either together or in lots, in subdivision or otherwise; or

        (c)     by public auction or by private contract.

    (3)     The trustee may vary any contract for sale, buy in at any auction, rescind any contract for sale and resell, without being answerable for any loss.

    (4)     If the trustee joins with any other person in selling, the purchase money shall be apportioned in or before the contract of sale, and a separate receipt shall be given by the trustee for the apportioned share.

    (5)     A contravention of subsection (4) shall not invalidate or be deemed to have invalidated any instrument intended to affect or evidence the title to any land.

    (6)     This section applies to a trust except so far as the contrary intention appears in the trust instrument.