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SUCCESSION ACT 2006 - SECT 81

Notional estate order may be made where estate affected by subsequent relevant property transaction

81 Notional estate order may be made where estate affected by subsequent relevant property transaction

(cf FPA 25)

(1) The Court may, on application by an applicant for a family provision order or on its own motion, make a notional estate order designating property specified in the order as notional estate of a deceased person if the Court is satisfied that:
(a) it:
(i) has power, under this or any other section of this Chapter, to make a notional estate order designating property held by, or on trust for, a person (
"the transferee" ) as notional estate of the deceased person, or
(ii) immediately before the date of the death of a person (
"the deceased transferee" ), had power, under this or any other section of this Chapter, to make a notional estate order designating property held by, or on trust for, the deceased transferee as notional estate of the deceased person, and
(b) since the relevant property transaction or distribution that gave rise to the power to make the order was entered into or made, the transferee, or the deceased transferee, entered into a relevant property transaction, and
(c) there are special circumstances that warrant the making of the order.
(2) Property may be designated as notional estate by a notional estate order under this section if it is property that is held by, or on trust for:
(a) a person by whom property became held (whether or not as trustee) as the result of the relevant property transaction entered into by the transferee or the deceased transferee, or
(b) the object of a trust for which property became held on trust as the result of the relevant property transaction entered into by the transferee or the deceased transferee,
whether or not the property was the subject of the relevant property transaction.
(3) A notional estate order may be made under this section instead of or in addition to an order under section 79, 80 or 82.



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