132. Charity trustees.

Land held on charitable, ecclesiastical or public trusts is now held on a trust of land, and charitable trustees have all the powers of an absolute owner, subject to statutory restrictions1. No mortgage of land held by or on trust for a charity other than an exempt charity2 may be granted without an order of the court or of the Charity Commission3 unless the charity trustees have obtained and considered proper advice given to them in writing before granting the mortgage4. Any mortgage of land held by or in trust for a charity must state that the land is