1912_PROBATES_ORDINANCE__1897 — Page 15

PROBATES.

No. 2 of 1897.

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PART IV.

RULES FOR ADMINISTRATION OF PROPERTY.

to stand in

equal degree.

[32 & 33 Vict. c. 46 s. 1.]

57. In the administration of the estate of every deceased person, Specialty

and simple no debt or liability of such person shall be entitled to any priority contract debts or preference by reason merely that the same is secured by or arises under a bond, deed, or other instrument under seal, or is otherwise made or constituted a specialty debt; but all the creditors of such person, as well specialty as simple contract, shall be treated as standing in equal degree, and be paid accordingly out of the assets of such deceased person, whether such assets are legal or equitable Provided that this Ordinance shall not prejudice or affect any lien, charge, or other security which any creditor may hold or be entitled to for the payment of his debt.

:

Court to make an

time for

58.-(1) Any executor or administrator may apply by summary Power to the petition to the Court for an order limiting the time for creditors. and others to send in their claims against the estate of the testator order limiting or intestate, and specifying what notices are to be given of the mak- creditors to ing of such order and of the time thereby limited; and the Court send in claims may make such order thereon as it thinks fit.

against estate. [22 & 23 Fict.

(2) Where an executor or administrator has given the notices c. 35 s. 29.] specified in any such order, he shall, at the expiration of the time. limited thereby for sending in such claims, be at liberty to distribute the assets of the testator or intestate, or any part thereof, amongst the parties entitled thereto, having regard to the claims. of which he has then notice, and shall not be liable for the assets, or any part thereof, so distributed to any person of whose claim he has not had notice at the time of distribution of the assets or a part thereof, as the case may be.

(3) Nothing in this section shall prejudice the right of any creditor or claimant to follow the assets, or any part thereof, into the hands of any persons who may have received the same respectively.

remuneration

tor.

59. It shall be lawful for the Court to allow to any executor or Allowance of administrator, including an administrator appointed pendente lite to executor or as aforesaid, such remuneration out of the estate of the deceased administra- person as may be just and reasonable for his pains and trouble therein Provided that no allowance whatever shall be made, to any executor or administrator who neglects to pass his accounts at such time, or to dispose of any moneys, goods, chattels, or securities

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