New South Wales Consolidated Acts

TRUSTEE ACT 1925 - SECT 56

56 Undivided interests

(1) Where an undivided share in the proceeds of sale of land directed to be sold, or in any other property, is subject to a trust or forms part of the estate of a testator or intestate, the trustee may, without prejudice to the trust for sale affecting the entirety of the land and the powers of the trustees for sale in reference thereto, execute or exercise any trust or power vested in the trustee in relation to such share, in conjunction with the persons entitled to or having power in that behalf over the other share or shares.

(2) This section applies notwithstanding that the trustee may be entitled to or interested in any such other share, either in the trustee’s own right or in a fiduciary capacity.

(3) This section applies only if and as far as a contrary intention is not expressed in the instrument, if any, creating the trust and shall have effect subject to the terms of that instrument and to the provisions therein contained.

(4) This section applies to trusts created either before or after the commencement of this Act.