Indian Trusts Act,1882
Act No : 2
Section : Power to sell under special conditions
38. Power to sell under special conditions. Power to buy-in andre-sell.-The trustee making any such sale may insert such reasonablestipulations either as to title or evidence of title, or otherwise, inany conditions of sale or contract for sale, as he thinks fit; and mayalso buy-in the property or any part thereof at any sale by auction,and rescind or vary any contract for sale, and re-sell the property sobought in, or as to which the contract is so rescinded, without beingresponsible to the beneficiary for any loss occasioned thereby.Time allowed for selling trust-property. Marginal heading. Where a trustee is directed to selltrust-property or to invest trust-money in the purchase of property,he may exercise a reasonable discretion as to the time of effectingthe sale or purchase. Illustrations (a) A bequeaths property to B, directing him to sell it with allconvenient speed and pay the proceeds to C. This does not render animmediate sale imperative.---------------------------------------------------------------------1 Second paragraph rep. by Act 12 of 1891, s. 2 and Sch. I.35 (b) A bequeaths property to B, directing him to sell it at suchtime and in such manner as he shall think fit and invest the proceedsfor the benefit of C. This does not authorize B, as between him and C,to postpone the sale to an indefinite period.
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