Effect of future dispositions to tenants in common

(1) An undivided share in land shall not be capable of being created except as provided by the Settled Land Act, 1925, c. 18, or as hereinafter mentioned. (2) Where, after the commencement of this Act, the title to land is vested in more persons than one, the certificate of title or the title deed thereto, notwithstanding anything to the contrary in this Act, shall operate to vest the title in the grantees as joint tenants upon the statutory trusts hereinafter mentioned, (3) A devise, bequest or testamentary appointment of land to two or more persons in undivided shares, coming into operation after the commencement of this Act, shall operate as a devise, bequest or appointment of the land to the trustees (if any) of the will for the purposes of the Settled Land Act, 1925, c. 18, or, if there are no such trustees, then to the personal representatives of the testator, and in each case, but without prejudice to the rights and powers of the personal representatives for purposes of administration, upon the statutory trusts hereinafter mentioned. (4) Any disposition purporting to make a settlement of an undivided share in land shall only operate as a settlement of a corresponding share of the net proceeds of sale and of the rents and profits until sale of the entirety of the land.