Queensland Consolidated Acts

LAND ACT 1994 - SECT 71

71 Effect of sale

When the land is sold—

(a) the trust is at an end; and

(b) all appointments of trustees are cancelled from the day the land is sold; and

(c) the buyer is entitled to have a new deed of grant issued in the buyer’s name and released from the trust but subject to other registered encumbrances that have not been released; and

(d) the Minister may appoint a person under section 74 to sell other property or assets of the trust.

Note—

Section 74 is about how the Minister appoints a liquidator to wind up the affairs of a trust.