|
TALA 1996 s 2 TALA 1996 s 17(6) Commentary TALA 1996 s 2 Sale and purchase of heirlooms under order of court |
|
| 67. -- (1)
Where personal chattels are settled so as to devolve with settled land, or
to devolve therewith as nearly as may be in accordance with the law or
practice in force at the date of the settlement, or are settled together
with land, or upon trusts declared by reference to the trusts affecting
land, a tenant for life of the land may sell the chattels or any of them.
| |
|
(2) The money arising by the sale shall be capital money arising under this
Act, and shall be paid, invested, or applied and otherwise dealt with in
like manner in all respects as by this Act directed with respect to other
capital money arising under this Act, or may be invested in the purchase of
other chattels of the same or any other nature, which, when purchased, shall
be settled and held on the same trusts, and shall devolve in the same manner
as the chattels sold
| |
|
(3) A sale or purchase of chattels under this section shall not be made
without an order of the court
| |
|
(4) Any reference in any enactment to personal chattels settled as heirlooms
shall extend to any chattels to which this section applies.
|