§ 18-4-4. Power of sale.
(a) Where a trust for sale, or a power of sale of property, is vested in trustees, they may sell or concur with any other person in selling all or any part of the property, either subject to prior encumbrances or not, and either together or in lots, by public auction or by private contract, subject to any conditions respecting title or evidence of title or other matter as the trustees think fit, with power to vary any contract for sale and to buy in at any auction as the trustees deem advantageous, or to rescind any contract for sale and to resell without being answerable for any resulting loss.
(b) This section applies only if, and as far as, a contrary intention is not expressed in the instrument creating the trust or power, and shall have effect, subject to the terms of that instrument and to the provisions therein contained.
(c) This section applies only to a trust or power created by an instrument executed on or after the first day of February, 1896.
History of Section.G.L. 1896, ch. 208, § 14; G.L. 1909, ch. 259, § 15; G.L. 1923, ch. 303, § 14; G.L. 1938, ch. 486, § 12; G.L. 1956, § 18-4-4.
Structure Rhode Island General Laws
Chapter 18-4 - Powers of Fiduciaries
Section 18-4-1. - Application of cy pres doctrine.
Section 18-4-2. - Powers of trustees.
Section 18-4-3. - Arbitration.
Section 18-4-4. - Power of sale.
Section 18-4-5. - Effect of trustee’s receipt.
Section 18-4-6. - Conveyance by infant trustee.
Section 18-4-7. - Disposition of money payable to infant trustee.
Section 18-4-8. - Settlement of debts and claims — Assent of court.
Section 18-4-9. - Powers of surviving fiduciaries.
Section 18-4-10. - Management powers exercised with court approval.
Section 18-4-11. - Purposes for which borrowing authorized.
Section 18-4-12. - Leases authorized.
Section 18-4-13. - Parties to management proceedings — Guardians ad litem — Costs.
Section 18-4-14. - Binding effect of authorized transactions.
Section 18-4-15. - Definitions.
Section 18-4-16. - Payments or transfers to fiduciaries — Effect of misapplication by fiduciary.
Section 18-4-17. - Transfer of negotiable instrument by fiduciary.
Section 18-4-18. - Check drawn by fiduciary payable to third person.
Section 18-4-19. - Check drawn by and payable to fiduciary.
Section 18-4-20. - Deposit in name of fiduciary.
Section 18-4-21. - Deposit in fiduciary’s personal account.
Section 18-4-22. - Administration of trusts.
Section 18-4-23. - Charitable remainder trusts.
Section 18-4-24. - Termination of small trusts.
Section 18-4-25. - Consolidation or division of trusts.
Section 18-4-26. - Powers of fiduciaries in connection with environmental laws.
Section 18-4-27. - Validity of trusts.
Section 18-4-28. - Trustee’s power to adjust.
Section 18-4-29. - Total return unitrusts — Alternative definition of income.
Section 18-4-30. - Representation by person having substantially identical interest.