Trustees Act 1967 · 2020 Revised Edition · Part 3 · General Powers of Trustees and Personal Representatives
18. Power to raise money by sale, mortgage, etc.
Feedback & supportWhere trustees are authorised by the instrument (if any) creating the trust or by law to pay or apply capital money subject to the trust for any purpose or in any manner, they have and are deemed always to have had power to raise the money required by sale, conversion, calling in, or mortgage of all or any part of the trust property for the time being in possession.
This section applies despite anything to the contrary contained in the instrument (if any) creating the trust, but does not apply to trustees of property held for charitable purposes.
property
“property” includes movable and immovable property, and any estate, share and interest in any property, movable or immovable, and any debt, and any thing in action, and any other right or interest, whether in possession or not;