Land Title Practice Manual

25 Sale Of Property To Maintain Infant

In This Volume

  • (2) If all of the money arising from the sale of the property referred to in subsection (1) is not immediately required for the maintenance and education of the infant, the trustees must
  • (a) invest the surplus money and the resulting income from it from time to time in proper securities,
  • (b) apply the money referred to in paragraph (a) and the proceeds of it from time to time for the education and maintenance of the infant, and
  • (c) hold the residue of the money and interest on it not required for the education and maintenance of the infant for the benefit of the person who will ultimately become entitled to the property from which the money and interest have arisen.

1979-414-25.

PRACTICE

Registration of Disposition

In accordance with s. 26 of the Act, the deed of conveyance duly executed by the trustees and the receipt for the purchase money duly signed by the trustees convey a good title to the purchaser of the property under s. 25.