Victorian Consolidated Legislation

Property Law Act 1958 - SECT 32

Power to postpone sale

32. Power to postpone sale



(1) A power to postpone sale shall, in the case of every trust for sale of
land, be implied unless a contrary intention appears8.

(2) Where there is a power to postpone the sale, then (subject to any express
direction to the contrary in the instrument, if any, creating the trust for
sale) the trustees for sale shall not be liable in any way for postponing the
sale, in the exercise of their discretion, for any indefinite period; nor
shall a purchaser of a legal estate be concerned in any case with any
directions respecting the postponement of a sale.

(3) The foregoing provisions of this section shall apply whether the trust for
sale is created before or after the commencement or by virtue of this Part9.

(4) Where a disposition or settlement coming into operation
after the commencement of this Act contains a trust either to retain or sell
land the same shall be construed as a trust to sell the land with power to
postpone the sale.