Trustee Purchasing Trust Property

I have a case where under the terms of her Will wife left her husband a life interest in her 50% beneficial share in the matrimonial home which was held by husband and wife as tenants in common in equal shares. Wife’s Will further provides that on husband’s death wife’s 50% beneficial share in the house passes absolutely in equal shares to husband’s and wife’s three children. One of the three children is an executor and Trustee in wife’s Will and wants to buy the house (i.e. husband’s 50% share and wife’s 50% share). When the house has been sold husband will still retain a life interest in 50% of the house sale proceeds. Husband and the other two children consent to the sale, the house has been valued and husband and the three adult children all have capacity. Can a sale of the Trust property to the Trustee proceed as all parties consent to the sale?

Assuming there are no self-dealing provisions in the will which would validate it, self-dealing only renders a transaction voidable at the instance of the beneficiaries, not void ab initio. If the beneficiaries have agreed to the sale, they cannot later oppose it.
Andrew Goodman
Osborne Clarke LLP

Thank you Andrew. That is very helpful.
The only administrative provisions in the Will are the Standard Provisions and all of the Special Provisions of the Society of Trust and Estate practitioners (2nd edition).