TSEM6123 - Legal background to trusts & estates: no valid will - 'trust for sale'
»Ê¹ÚÌåÓýapp rules of intestacy can provide for assets to be held in a statutory trust (TSEM6120). »Ê¹ÚÌåÓýappse are ‘trusts for saleâ€�. This does not mean the trustees are obliged to sell immediately. »Ê¹ÚÌåÓýapp phrase means the trustees have the power to sell. Usually they have the power to sell, and also the discretion to postpone sale. »Ê¹ÚÌåÓýappy can defer the sale for as long as they think fit. Without the discretion to postpone, they must sell as soon as they can.
»Ê¹ÚÌåÓýappy must re-invest the proceeds for the benefit of the beneficiary.