Legal Background to Trusts and Estates: Trusts of Land and Appointment of Trustees Act 1996
This provides for the abolition of the dual system of trusts for sale and strictsettlements. It replaces them with an entirely new single system.
No settlement created after the commencement of the Act is a settlement for thepurposes of the Settled Land Act 1925. And, no settlement can be deemed as made under thatAct after that commencement.
It does not affect settlements under the Settled Land Act 1925 existing at the time theAct commenced.
All trusts involving land fall under the new system.