Administration
of assets.
1925. c. 13. 1. 24. First Scheduk.
Plast Schechile,
Charges to be paid primarily out of the
property charged.
1925, c. 2). * JS,
20
63. (1) Where the estate of a deceased person is insolvent his estate shall be administered in accordance with the rules set out in Part I of the First Schedule.
(2) (a) The right of retainer of a personal representative and his right to prefer creditors may be exercised in respect of all assets of the deceased but the right of retainer shall only apply to debts owing to the personal representative in his own right whether solely or jointly with another person.
(b) Subject as aforesaid, nothing in this Ordinance affects the right of retainer of a personal representative or his right to prefer creditors.
(3) Where the estate of a deceased person is solvent his estate shall, subject to rules of court and the provisions hereinafter contained as to charges on property of the deceased, and to the provisions, if any, contained in his will, be applicable towards the discharge of the funeral, testamentary and administration expenses, debts and liabilities payable thereont in the order mentioned in Part II of the First Schedule.
64. (1) Where a person dies possessed of, or entitled to. or, under a general power of appointment, by his will disposes of an interest in property which at the time of his death is charged with the payment of money, whether by way of legal mortgage, equitable charge or otherwise (including lien for unpaid purchase money), and the deceased has not by will, deed or other document signified a contrary or other intention, the interest so charged shall, as between the different persons claiming through the deceased, be primarily liable for the payment of the charge; and every part of the said interest, according to its value, shall bear a proportionate part of the charge on the whole thereof.
(2) Such contrary or other intention shall not be deemed to be signified-
(2) by a general direction for the payment of debts or of all the debts of the testator out of his movable property or of his residuary estate; or
(6) by a charge of debts upon any such estate, unless such intention is further signified by words expressly or by necessary implication referring to all or some part of the charge.
(3) Nothing in this section affects the right of a person entitled to the charge to obtain payment or satisfaction thereof either out of the other assets of the deceased or otherwise.
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68. (1) Subject to the provisions of section 54 every contract entered into by a personal representative in the due administra- tion of an estate shall be binding on and be enforceable against and by any other personal representative for the time being of the deceased, and may be carried into effect or be varied or rescinded by any other such personal representative as if it had been entered into by himself.
(2) Nothing in this section shall affect the right of any person to require an assent, transfer or conveyance to be made.
(3) This section applies whether the testator or intestate died before or after the commencement of this Ordinance.
66. (1) A personal representative may assent to the vesting in any person who (whether by devise, bequest, devolution. appropriation or otherwise) may be entitled thereto, either beneficially or as a trustee or personal representative, of any im- movable property to which the testator or intestate was entitled or over which he exercised a general power of appointment by bis will and which devolved upon the personal representative.
(2) The assent shall operate to vest in that person the estate to which the assent relates, and unless a contrary intention appears, the assent shall relate back to the death of the deceased,
(3) An assent to the vesting of a legal estate shall be in writing, signed by the personal representative, and shall name the person in whose favour it is given, and shall operate to vest in that person the legal estate to which it relates; and an assent not in writing or not in favour of a named person shall not be effectual to pass the legal estate.
(4) A conveyance of a legal estate by a personal representa- tive to a purchaser shall not be invalidated by reason only that the purchaser may have notice that all debts, liabilities, funeral and testamentary or administration expenses, duties, and legacies of the deceased have been discharged or provided for.
(5) An assent or conveyance given or made by a personal representative shall not, except in favour of a purchaser of a legal estate, prejudice the right of a personal representative or any other person to recover the estate to which the assent or conveyance relates, or to be indemnified out of such estate against any duties, debts or liability to which such estate would have been subject if there had not been any assent or conveyance.
(6) A personal representative may, as a condition of giving an assent or making a conveyance, require security for the discharge of any such duties, debt or liability, but shall not be entitled to
Contracts by personal representative.
Assent or COSTYCYENCE by personal representative.
Cor. 1925, c. 23,
36.]