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POWERS OF ATTORNEY ACT 1998 - SECT 61B
Effect on beneficiary’s interest if property dealt with by attorney
61B Effect on beneficiary’s interest if property dealt with by attorney
(1) This section applies to a person who is a beneficiary (
"the beneficiary" ) under a deceased principal’s will.
(2) The beneficiary
has the same interest in any surplus money or other property (
"the proceeds" ) arising from a sale, mortgage, charge, disposition of, or
other dealing with, property under the powers given to an attorney under an
enduring power of attorney as the beneficiary would have had in the property
sold, mortgaged, charged, disposed of or otherwise dealt with, if the sale,
mortgage, charge, disposition or other dealing had not happened.
(3)
The beneficiary is also entitled to— (a) any money or other property that is
able to be traced as income generated by the proceeds; and
(b) any capital
gain that is generated from the proceeds.
(4) This section applies even if
the beneficiary is the attorney who sold, mortgaged, charged, disposed of or
otherwise dealt with the property.
(5) This section applies subject to any
order made by the court under section 61D (1) .
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