A Sale by Trustees for Sale
Suppose you are buying an unregistered title. You are buying it from Abel and Bertha. You read a copy of the conveyance to them. A clause in it says ‘the purchasers declare that they hold the property hereby conveyed on trust to sell the same (with power to postpone sale), and to hold the net proceeds of sale, (and pending sale, the income of the land) on trust…’. It does not require a great mental effort to deduce from this that Abel and Bertha hold the legal estate as trustees for sale. The trust to sell is expressly declared.
KeywordsPurchase Price Mortgage Loan Building Society Express Trust Sole Owner
Unable to display preview. Download preview PDF.