sec.38Vesting of property in trustee

### sec.38 Vesting of property in trustee If the court orders the appointment of a trustee for the sale or physical division of the property, the order is taken to vest the property in the trustee in the same way as a vesting order under the Trusts Act 1973 , section 90 . If the property is subject to a security interest affecting the entirety, the property vests in the trustee subject to the security interest. If the property is subject to a security interest affecting an undivided share of the property— the property vests in the trustee free of the security interest; and the interest of the person entitled to the benefit of the security interest is converted to an equitable interest in the proceeds of sale. (sec.38-ssec.1) If the court orders the appointment of a trustee for the sale or physical division of the property, the order is taken to vest the property in the trustee in the same way as a vesting order under the Trusts Act 1973 , section 90 . (sec.38-ssec.2) If the property is subject to a security interest affecting the entirety, the property vests in the trustee subject to the security interest. (sec.38-ssec.3) If the property is subject to a security interest affecting an undivided share of the property— the property vests in the trustee free of the security interest; and the interest of the person entitled to the benefit of the security interest is converted to an equitable interest in the proceeds of sale. - (a) the property vests in the trustee free of the security interest; and - (b) the interest of the person entitled to the benefit of the security interest is converted to an equitable interest in the proceeds of sale.