sec.28Power to purchase dwelling house as residence for beneficiary

### sec.28 Power to purchase dwelling house as residence for beneficiary A trustee may— purchase a dwelling house for a beneficiary to use as a residence; or enter into an agreement or arrangement to secure for a beneficiary a right to use a dwelling house as a residence. Despite the terms of the instrument creating the trust, a trustee may, if to do so would not unfairly prejudice the interests of other beneficiaries, retain as part of the trust property a dwelling house for a beneficiary to use as a residence. A dwelling house purchased, retained or otherwise secured for use by the beneficiary as a residence may be made available to the beneficiary for that purpose on the conditions consistent with the trust and the extent of the beneficiary’s interest that the trustee considers appropriate. The trustee may retain a dwelling house or an interest or rights in a dwelling house acquired under this section after the use of the dwelling house by the beneficiary has ended. In this section— dwelling house includes— a building or part of a building designed, or converted or capable of being converted, for use as a residence; and amenities or facilities for use in association with the use of a dwelling house. s 28 sub 1999 No. 69 s 5 (sec.28-ssec.1) A trustee may— purchase a dwelling house for a beneficiary to use as a residence; or enter into an agreement or arrangement to secure for a beneficiary a right to use a dwelling house as a residence. (sec.28-ssec.2) Despite the terms of the instrument creating the trust, a trustee may, if to do so would not unfairly prejudice the interests of other beneficiaries, retain as part of the trust property a dwelling house for a beneficiary to use as a residence. (sec.28-ssec.3) A dwelling house purchased, retained or otherwise secured for use by the beneficiary as a residence may be made available to the beneficiary for that purpose on the conditions consistent with the trust and the extent of the beneficiary’s interest that the trustee considers appropriate. (sec.28-ssec.4) The trustee may retain a dwelling house or an interest or rights in a dwelling house acquired under this section after the use of the dwelling house by the beneficiary has ended. (sec.28-ssec.5) In this section— dwelling house includes— a building or part of a building designed, or converted or capable of being converted, for use as a residence; and amenities or facilities for use in association with the use of a dwelling house. - (a) purchase a dwelling house for a beneficiary to use as a residence; or - (b) enter into an agreement or arrangement to secure for a beneficiary a right to use a dwelling house as a residence. - (a) a building or part of a building designed, or converted or capable of being converted, for use as a residence; and - (b) amenities or facilities for use in association with the use of a dwelling house.