Northern Territory Consolidated Acts Northern Territory Consolidated Acts (1) Where a trust for sale or a power of sale of
property is vested in trustees, they may sell or concur with any other person
in selling all or any part of the property, either subject to prior charges or
not, and either together or in lots, by public auction or by private contract,
at one time or at several times, subject to any such condition respecting
title or evidence of title or other matter as the trustees think fit, with
power to vary any contract for sale, and to buy in at any auction, or to
rescind any contract for sale and to
re-sell, without being answerable for any
loss.
Trustees exercising power of sale, empowered to convey
(2) For the purpose of completing any such sale as aforesaid, the trustees shall have full power to convey or otherwise dispose of the property in question, either by way of revocation and appointment of uses, or otherwise, as may be necessary.
(3) This section applies only if and as far as a contrary intention is not expressed in the instrument creating the trust or power, and shall have effect subject to the terms of that instrument and to the provisions therein contained.
(4) This section applies only to trusts and powers created by an instrument coming into operation after 21 October, 1862.