Queensland Consolidated Acts Queensland Consolidated Acts(1) The public trustee may expend from the capital of an estate under administration such sum or sums as the public trustee thinks necessary for any 1 or more of the following purposes--
(a) the purchase of a dwelling house in Queensland or elsewhere;
(b) the purchase of land in Queensland or elsewhere and for the erection thereupon of a dwelling house;
(c) the erection of a dwelling house;
(d) effecting such alterations and repairs to a dwelling house as the public trustee thinks fit;
(e) the purchase for a dwelling house of such furnishings and fittings as the public trustee thinks fit;
for the use of any beneficiary in the estate or of any person having a personal licence to reside (whether for life or any lesser period) on land comprised in the estate; and may permit the beneficiary or that person to reside therein upon such terms and conditions consistent with the trusts on which the estate is held and the extent of the interest of the beneficiary or that person as the public trustee thinks fit.
(2) When the public trustee purchases a dwelling house or other land in exercise of the power conferred by subsection (1), the public trustee shall not be chargeable with breach of trust by reason only of the relation borne by the purchase price to the value of the property at the time when the purchase was made if it appears to the court that--
(a) in making the purchase the public trustee was acting upon a report as to the value of the property made by a registered valuer instructed and employed independently of any owner of the property, whether that valuer carried on business in the locality where the property is situated or elsewhere; and
(b) the purchase price did not exceed the value of the property as stated in the report or the purchase was otherwise reasonable in all the circumstances; and
(c) the purchase was made under the advice of the valuer expressed in the report.
(3) The public trustee may retain as an asset of the estate any property purchased under subsection (1), notwithstanding that no beneficiary under the trust is residing in or on the property.
(4) In this section--
dwelling house includes a home unit, town house or other like residence whether the subject of a lease or of a freehold title or otherwise; and also the curtilage of any such dwelling house.