Victorian Current Acts

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Distribution between multiple partners in equal shares

    (1)     Subject to subsection (3), the personal representative of an intestate who leaves multiple partners must distribute the residuary estate in equal shares between the partners if the personal representative, at the request of a partner of the intestate, or in the personal representative's discretion—

        (a)     gives each partner a written notice stating that the personal representative will distribute the estate equally between the partners unless, within 3 months of the date of the notice—

              (i)     the partners enter into a distribution agreement and submit that agreement to the personal representative; or

              (ii)     at least one of the partners applies to the Court for a distribution order; and

        (b)     at least 3 months have elapsed since the notices referred to in paragraph (a) were given and—

              (i)     the personal representative has not received a distribution agreement or notice of an application to the Court for a distribution order; or

              (ii)     an application for a distribution order has been made but the Court has dismissed the application or the application has been withdrawn.

    (2)     If the period specified in subsection (1)(b) has elapsed and no distribution agreement has been received and no distribution order has been made, the personal representative must distribute the intestate's residuary estate between the multiple partners in equal shares.

    (3)     If the intestate leaves more than one partner and a child or children or other issue who are not also the child, children or other issue of any of the partners the residuary estate is to be distributed in accordance with section 70ZB.

Division 6—Distribution if intestate
leaves no partners

S. 70ZF inserted by No. 41/2017 s. 11.

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