| Express trusts for sale as trusts of land. |
Commentary |
4. -- (1) In the case of every trust for sale of land created by a disposition there is to be implied, despite any provision to the contrary made by the disposition, a power for the trustees to postpone sale of the land; and the trustees are not liable in any way for postponing sale of the land, in the exercise of their discretion, for an indefinite period.
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(2) Subsection (1) applies to a trust whether it is created, or arises, before or after the commencement of this Act.
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(3) Subsection (1) does not affect any liability incurred by trustees before that commencement.
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