TASIn ForceAct
Settled Land Act 1884
32Cutting and sale of timber by tenant for life, impeachable for waste, and setting aside part of proceeds
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32 Cutting and sale of timber by tenant for life, impeachable for waste, and setting aside part of proceeds
(1) Where a tenant for life is impeachable for waste in respect of timber, and there is on the settled land timber fit for cutting, the tenant for life, on obtaining the consent of the trustees of the settlement or an order of the Court, may cut and sell that timber, or any part thereof.
(2) Three-fourth parts of the net proceeds of the sale shall be set aside as and be capital money arising under this Act, and the other fourth part shall go as rents and profits.