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TRUSTEE COMPANIES ACT 1964 - SECT 15AA
Election to administer where previous executor or administrator
15AA Election to administer where previous executor or administrator
(1) A trustee company may file an election to administer the unadministered
property of the estate of a deceased person who died testate or intestate in
the registry of the Court, instead of taking out administration de bonis non,
if: (a) the executor or administrator of the estate has died and no other
person has taken out administration de bonis non in respect of the estate, and
(b) part of the estate is unadministered, and
(c) the gross value of the
unadministered part of the estate in New South Wales is less than the amount
prescribed by the regulations for the purposes of this section, and
(d) the
trustee company is entitled to take out administration de bonis non.
(2) An
election must be sealed by the trustee company and must set out: (a) the fact
of the original grant, and
(b) the fact of the death of the executor or
administrator, and
(c) particulars of the property left unadministered.
(3)
On an election being filed, the trustee company is taken to have been
appointed by the Court as the administrator de bonis non of the unadministered
part of the estate.
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