Settled Land Act 1958

If and as long as any person who is entitled to a beneficial interest in possession affecting land is a minor, the trustees appointed for this purpose by the settlement, or if there are none so appointed, then the trustees of the settlement, unless the settlement or the order of the Court whereby they or their predecessors in office were appointed to be such trustees expressly provides to the contrary, or if there are none, then any persons appointed as trustees for this purpose by the Court on the application of a guardian or next friend of the minor, may enter into and continue in possession of the land on behalf of the minor, and in every such case the subsequent provisions of this section shall apply.

The trustees shall manage or superintend the management of the land, with full power—

to fell timber or cut underwood from time to time in the usual course for sale, or for repairs or otherwise; and

to erect, pull down, rebuild, and repair houses and other buildings and erections; and

to continue the working of mines, minerals and quarries which have usually been worked; and

to drain or otherwise improve the land or any part thereof; and

to insure against loss by fire; and

to make allowances to and arrangements with tenants and others; and

to determine tenancies, and to accept surrenders of leases and tenancies; and

generally to deal with the land in a proper and due course of management—

The trustees may from time to time, out of the income of the land, including the produce of the sale of timber and underwood, pay the expenses incurred in the management, or in the exercise of any power conferred by this section or otherwise in relation to the land, and all outgoings not payable by any tenant or other person, and shall keep down any annual sum, and the interest of any principal sum charged on the land.

Where the infant's estate or interest is in an undivided share of land the powers of this section relative to the land may be exercised jointly with persons entitled to possession of or having power to act in relation to the other undivided share or shares.

This section shall have effect subject to an express appointment by the settlement, or the Court, of trustees for the purposes of this section or of any corresponding previous enactment.

Where any person is contingently entitled to land, this section shall, subject to any prior interests or charges affecting that land, apply until his interest vests, or, if his interest vests during his minority, until he attains the age of eighteen years.