Help - house purchase and understanding old deeds. Probate and trusts.

Lchscot

Hi, 

Looking for some help understanding our potential house purchase and some wording in the deeds. We have queried with our solicitors but wondered if anyone here could decipher it please?

The Purchasers shall hold the said property Upon Trust to sell the sane with power to postpone the sale thereof and shall hold the net proceeds of sale and other money applicable as capital and the net rents and profits thereof until sale upon trust for themselves as joint tenants

(b) Until the expiration of Twenty one years from the death of the survivor of the Purchasers the Trustees for the time being of this deed shall have power to mortgage charge lease or otherwise dispose of all or any part of the said property with all the powers in that behalf of an absolute owner. 

We believe the surviving purchaser has recently passed away however the property ownership passed to their children in 2015 and is being sold as freehold. We are a little concerned by the 21 year comment. Is there anyone that has seen this kind of thing before?

Thanks in advance!

Bookworm105

the death of the surviving original (joint) owner should have resulted in the winding up of that trust as their will then takes over
if the will was then administered correctly the trust's asset was transferred to the will's beneficiaries (the children) and they are now the legal owners with power to sell it