Problems arose where partners disagreed over when they wanted to sell a property – usually in the case of separation, and this led to situations where spouses and children might find themselves without their customary home inequitably.

One of the key features of the act is to try to redress this by the imposition of statutory considerations to be taken into account when dealing with the disposition of trusts and ordering a sale of a family home.

Notable requirements come from two parts of the legislation, sections 14 and 15, where the considerations for determining applications are dealt with.

Section 15 Insolvency Act 1986, S. 335a (3) Where such an application is made after the end of the period of one year beginning with the first vesting under chapter IV of this part of the bankrupt's estate in a trustee, the court shall assume, unless the circumstances of the case are exceptional, that the interests of the bankrupt's creditors outweigh all other considerations.

[1][2] This statutory provision mirrors the existing common law rule in Saunders v Vautier allowing a beneficiary to wind up a trust.