trust for sale "trust for sale", in relation to land, means an immediate binding trust for sale, whether or not exercisable at the request or with the consent of any person, and with or without power at discretion to postpone the sale; "trustees for sale" means the persons (including a personal representative) holding land on trust for sale. ACT 208 - TRUSTEE ACT 1949 (Revised 1978) 3. Interpretation.