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LAW OF PROPERTY AMENDMENT ACT 1859 - SECT 14

Devisee in trust may raise money charged on land by sale or mortgage, notwithstanding want of express power in the will.

14. Where by any will which shall come into operation after the passing of
this Act the testator shall have charged his real estate or any specific
portion thereof with the payment of his debts, or with the payment of any
legacy or other specific sum of money, and shall have devised the estate so
charged to any trustee or trustees for the whole of his estate or interest
therein, and shall not have made any express provision for the raising of such
debt, legacy, or sum of money out of such estate, it shall be lawful for the
said devisee or devisees in trust, notwithstanding any trusts actually
declared by the testator, to raise such debts, legacy, or money as aforesaid
by a sale and absolute disposition by public auction or private contract of
the said hereditaments or any part thereof, or by a mortgage of the same, or
partly in one mode and partly in the other; and any deed or deeds of mortgage
so executed may reserve such rate of interest and fix such period or periods
of repayment as the person or persons executing the same shall think proper.

© 1859 Crown Copyright

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