22 Reversionary interests, valuations, and audit
Trustee Act 1925 (1925 c 19) | Legislation

22  Reversionary interests, valuations, and audit

(1)     Where trust property includes any share or interest in property not vested in the trustees, or the proceeds of the sale of any such property, or any other thing in action, the trustees on the same falling into possession, or becoming payable or transferable may—

(a)     agree or ascertain the amount or value thereof or any part thereof in such manner as they may think fit;

(b)     accept in or towards satisfaction thereof, at the market or current value, or upon any valuation or estimate of value which they may think fit, any authorised investments;

(c)     allow any deductions for duties, costs, charges and expenses which they may think proper or reasonable;

(d)     execute any release in respect of the premises so as effectually to discharge all accountable parties from all liability in respect of any matters coming within the scope of such

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