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73 (1) If a decree is made by the court for the specific performance of a contract concerning land or for the partition or exchange of land, or generally if a decree is made for the conveyance or assignment of land, either in cases arising out of the doctrine of election or otherwise, the court may order

  • (a) that any party to the proceeding in which the decree is made is a trustee of the land or part of it, within the meaning of this Act, or
  • (b) with respect to the interests of unborn persons who might claim under
    • (i) any party to the proceeding referred to in paragraph (a), or
    • (ii) the will or voluntary settlement of a person deceased who was during the person’s lifetime a party to the contract or transactions concerning which the decree is made,
  • that the interests of unborn persons are the interests of persons who, on coming into existence, would be trustees within the meaning of this Act.
  • (2) After making an order under subsection (1), the court may make the order, as to the estates, rights and interests of those persons, born or unborn, that the court might under this Act make concerning the estates, rights and interests of trustees born or unborn.

1979-414-73; 2023-10-1136.