Persons to be served with notice of dealing with settled land, etc

(1) In the case of a dealing with an equitable interest in settled land, capital money or securities representing capital money, the persons to be served with notice of the dealing shall be the trustees of the settlement, and where the equitable etc. 82 interest is created by a derivative or subsidiary settlement, the persons to be served with notice shall be the trustees of that (2) In the case of a dealing with an equitable interest in the proceeds of sale of land or in the rents and profits until sale, the persons to be served with notice shall, as heretofore, be the (3) In any other case, the person to be served with notice of a dealing with an equitable interest in land shall be the estate owner of the land affected. (4) The persons on whom notice is served pursuant to this subsection shall be affected thereby in the same manner as if they had been trustees of personal property out of which the equitable interest was created or arose. (5) This section shall not apply where the money or securities are in court.