55Power of trustees, with sanction of Court, to raise by mortgage moneys for preservation of estate or like purposes

### 55 Power of trustees, with sanction of Court, to raise by mortgage moneys for preservation of estate or like purposes > *\[Section 55 Amended by 25 Geo. V No. 78 \]* > > > (1)  A trustee may, with the sanction of the Court, and notwithstanding any directions given by the instrument under which the trust arises, raise, by way of mortgage of the trust property or any part thereof, any sums of money which, in the opinion of the Court, it may be necessary to raise for the purpose of – > > > > > > (a) the preservation or improvement of the trust property, or its insurance against damage by fire; or > > > > > > > (b) the discharge of any debts or liabilities charged upon the trust property or for the payment of which the trust property may be made available. > > > (2)  Any sum so raised may be raised at such rate of interest and shall be repayable at such period as the Court may sanction.