Section 3

Where land is held by trustees subject to a trust for sale, the land is not to be regarded as personal property; and where personal property is subject to a trust for sale in order that the trustees may acquire land, the personal property is not to be regarded as land. Subsection (1) does not apply to a trust created by a will if the testator died before the commencement of this Act. Subject to that, subsection (1) applies to a trust whether it is created, or arises, before or after that commencement.

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Source: legislation.gov.uk · retrieved 2026-08-15