New South Wales Consolidated Acts
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TRUSTEE ACT 1925 - SECT 27B
Postponement of sale
27B Postponement of sale
(1) A power to postpone sale shall be implied in every trust for sale, unless
a contrary intention appears.
(2) Where there is a power to postpone sale,
then (subject to any express direction to the contrary in the instrument, if
any, creating the trust for sale) the trustee for sale shall not be liable in
any way for postponing the sale, in the exercise of the trustee's discretion,
for any indefinite period; nor shall a purchaser be concerned in any case with
any directions respecting the postponement of sale.
(3) The provisions of
subsections (1) and (2) apply to trusts created either before or after the
commencement of this Act.
(4) Where a disposition or settlement coming into
operation after the commencement of the Trustee (Amendment) Act 1929 contains
a trust either to retain or sell any property, the same shall be construed as
a trust to sell the property with power to postpone the sale.
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