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Management of land and receipt and application of income during minority

Conveyancing and Lawof Property Act 1886

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—(1) If and as long as any person who would but for this section be beneficially entitled to the possession of any land is an infant, the trustees appointed for this purpose by the settlement (if any) or if there are none so appointed, then the persons (if any) who are for the time being under the settlement trustees with power of sale of the settled land, or of part thereof, or with power of consent to or approval of the exercise of such a power of sale, of if there are none, then any persons appointed as trustees for this purpose by the court, on the application of a guardian or next friend of the infant, may enter into and continue in possession of the land; and in every such case subsections (2) to (8) shall apply.(2) The trustees shall manage or superintend the management of the land, with full power —(a)to fell timber or cut underwood from time to time in the usual course for sale, or for repairs or otherwise;(b)to erect, pull down, rebuild and repair houses and other buildings and erections;(c)to continue the working of mines, minerals and quarries which have usually been worked;(d)to drain or otherwise improve the land, or any part thereof;(e)to insure against loss by fire;(f)to make allowances to and arrangements with tenants and others;(g)to determine tenancies and to accept surrenders of leases and tenancies; and(h)generally to deal with the land in a proper and due course of management,but so that, where the infant is impeachable for waste, the trustees shall not commit waste, and shall cut timber on the same terms only, and subject to the same restrictions, on and subject to which the infant could, if of full age, cut it.(3) The trustees may from time to time, out of the income of the land, including the produce of the sale of timber and underwood, pay the expenses incurred in the management, or in the exercise of any power conferred by this section, or otherwise in relation to the land, and all outgoings not payable by any tenant or other person, and shall keep down any annual sum, and the interest of any principal sum, charged on the land.(4) The trustees may, in their discretion, apply any income which, in the exercise of their discretion they consider proper, according to the infant’s age, for his or her maintenance, education or benefit, or pay thereout any money to the infant’s parent or guardian, to be applied for the same purposes.(5) The trustees shall lay out of the residue of the income of the land in investment on securities on which they are by the settlement (if any) or by law, authorised to invest trust money, with power to vary investments; and shall accumulate the income of the investments so made in the way of compound interest, by from time to time similarly investing the income and the resulting income of investments; and shall stand possessed of the accumulated fund arising from income of the land and from investments of income on the trusts following:(a)if the infant attains the age of 21 years, then in trust for the infant;(b)if the infant is a woman and marries while an infant, then in trust for her separate use, independently of her husband, and so that her receipt after she marries, and though still an infant, shall be a good discharge; and(c)if the infant dies while an infant, and being a woman without having been married, then where the infant was under a settlement tenant for life, on the trusts (if any) declared of the accumulated fund by that settlement, but where no such trusts are declared or the infant is seised of or entitled to any land for an estate in fee simple absolute or conditional, or for any leasehold interest, then in trust for the infant’s personal representatives as part of the infant’s estate.(6) Where the infant’s estate or interest is in an undivided share of land, the powers of this section relative to the land may be exercised jointly with persons entitled to possession of, or having power to act in relation to, the other undivided share or shares.(7) This section shall apply only if and as far as a contrary intention is not expressed in the instrument under which the interest of the infant arises, and shall have effect subject to the terms of that instrument and to the provisions therein contained.(8) This section shall apply —(a)as to the whole — only where the instrument comes into operation after 1st July 1903; and(b)as to subsections (4) and (5) — only in relation to instruments coming into operation before 1st September 1929.

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