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(b.) for any debt in respect whereof there is a right to reimbursement from any other estate or person unless such reimbursement cannot be obtained; nor

(c.) more than once for the same debt or incum- brance charged upon different portions of the estate;

and any debt or incumbrance for which an allowance is made shall be deducted from the value of the property liable thereto.

(2.) Where a debt or incumbrance has been incurred or Limitation created in whole or in part for the purpose of or in con- on debts sideration for the purchase or acquisition or extinction, from value deductible whether by operation of law or otherwise, of any interest of estate. in expectancy in any property passing or deemed to pass 10 Edw. 7 on the the death of a deceased person, and any person c. 8, s. 57. whose interest in expectancy is so purchased, acquired, or extinguished becomes (under any disposition made by, or through devolution of law from, or under the intestacy of, the deceased) entitled to any interest in that property, then in determining the value of the estate of the deceased for the purpose of estate duty no allowance shall be made in respect of such debt or incumbrance, and any property charged with any such debt or incumbrance shall be deemed to pass freed from that debt or incumbrance :

Provided that

(a.) if part only of such debt or incumbrance was incurred or created for such purpose or as such consideration as aforesaid, this provision shall apply to that part of such debt or incumbrance only; and

(6.) if a person whose interest in expectancy in the property so purchased, acquired, or ex- tinguished becomes entitled to an interest in part only of that property this provision shall apply only to such part of the debt or incum- brance as bears the same proportion to the whole debt or incumbrance as the value of the part of the property to an interest in which he becomes entitled bears to the value of the whole of that property.

(3.) No allowance shall be made for debts due from the deceased to persons resident out of the Colony unless contracted to be paid in the Colony.

Debts due to persons

resident out of the Colony.

57 and 58 Vict. c. 30,

8. 7 (2). Value of

(4.)-(a.) The principal value of any property shall be estimated to be the price which, in the opinion of the Com- property. missioner, such property would fetch if sold in the open market at the time of the death of the deceased.

57 and 58 Vict. c. 30, 8. 7(5):

(b.) In estimating such principal value the Commis- 10 Edw. 7 sioner shall not make any reduction in the estimate on c. 8, s. 60. account of the estimate being made on the assumption that that the whole property is to be placed on the market at one and the same time : Provided that where it is proved to the Commissioner that the value of the property has been depreciated by reason of the death of the deceased the Commissioner in fixing the price shall take such depreciation into account,

10.-(1.) Every person applying for probate or letters Filing of of administration shall, to the best of his knowledge and accounts of belief, specify in appropriate accounts anexed to au property. affidavit for the Commissioner in the prescribed form all 57 and 58 the property in respect of which estate duty is payable Vict. c. 30,

s. 8 (3). upou the death of the deceased, and shall be accountable for the estate duty in respect of all property of which the deceased was competent to dispose at his death but shall not be liable for any duty in excess of the, assets which he has received as executor or might but for his own neglect or default have received.