143. Conveyance by trustees to themselves.

A conveyance by trustees or personal representatives to one of themselves is prima facie in breach of trust and voidable by the beneficiaries without enquiry as to fairness1. Such a transaction can be justified if:

  1.  

    (1)     there is proof of a pre-existing contract to purchase, an option or right of pre-emption in favour of the trustee or personal representative;

  2.  

    (2)     the personal representative was a beneficiary under the will or intestacy of the seller;