https://www.taxtmi.com/acts?id=15222 Trustees must convert wasting property, and future or reversionary interests held for successive beneficiaries, into permanent and immediately profitable property unless the trust instrument shows a clear contrary intention; absent such intention, trustees should sell wasting assets like leasehold houses and reinvest proceeds, but should not sell where the instrument explicitly directs enjoyment in specie. en-us Tue, 20 Sep 2011 18:58:05 +0530 Wed, 21 Sep 2011 10:13:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15222 Trustees must convert wasting property, and future or reversionary interests held for successive beneficiaries, into permanent and immediately profitable property unless the trust instrument shows a clear contrary intention; absent such intention, trustees should sell wasting assets like leasehold houses and reinvest proceeds, but should not sell where the instrument explicitly directs enjoyment in specie. Act-Rules Trust and Society Tue, 20 Sep 2011 18:58:05 +0530 https://www.taxtmi.com/acts?id=15222