What is section 55 of the Administration of Estates Act 1925?
What is section 55 of the Administration of Estates Act 1925?
Under section 55(1)(x), Administration of Estates Act 1925, personal chattels were defined as ‘carriages, horses, stable furniture and effects, motor cars and accessories, garden effects, domestic animals, plate, plated articles, linen, china, glass, books, pictures, prints, furniture, jewellery, articles of house or …
Is a house a personal chattel?
For intestate deaths before 1 October 2014, personal chattels is defined as carriages, horses, stable furniture and effects, motor cars and accessories, garden effects, domestic animals, plate, plated articles, linen, china, glass, books, pictures, prints, furniture, jewellery, articles of house or personal use or …
What is Section 41 of the Administration of Estates Act 1925?
Personal representatives have a statutory power of appropriation (contained in section 41 of the Administration of Estates Act 1925), which enables them to appropriate any part of the deceased’s estate in satisfaction of any legacy, or share of the residuary estate, provided it does not prejudice any beneficiary.
Can chattels be sold before probate?
Once the Grant has been issued by the Probate Registry, the Executors have authority to act and are in a position to sell or transfer the assets as required. Until there is a Grant the Executors may not sell the deceased’s chattels, for example a car or furniture.
What does chattel mean in law?
tangible movable personal property
A catch-all category of property mostly associated with movable goods. At common law, chattel included all property that was not real estate and not attached to real estate. Examples included everything from leases, to cows, to clothes. In modern usage, chattel often merely refers to tangible movable personal property.
Is money considered chattel?
In the context of estates of deceased persons who have died intestate on or after 1 October 2014, personal chattels is defined as tangible movable property but not: Money or securities for money.
What is Section 31 of the Trustee Act 1925?
Trustee power to apply and accumulate income: section 31 of Trustee Act 1925. A practice note explaining that section 31 of the Trustee Act 1925, known as the statutory power of maintenance, gives trustees powers and duties in relation to trust income.
Is the Trustee Act 1925 still in force?
Many sections of the Trustee Act 1925 were repealed by the Trustee Act 2000. However, two significant section that remain in force today are ss. 31 and 32.
Is a vehicle a Chattel?
A thing that a person can possess in physical form; a tangible, moveable asset (for example, a piece of jewellery, a painting or a car and, in some contexts, goods, equipment or machinery).
What does administration of Estate Act 1925 mean?
Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing. 55 Definitions. (1)(i) “Administration” means, with reference to the real and personal estate of a deceased person, letters of administration, whether general or limited, or with the will annexed or otherwise:
What does it mean to have administration of estate?
55 Definitions. (1)(i) “Administration” means, with reference to the real and personal estate of a deceased person, letters of administration, whether general or limited, or with the will annexed or otherwise: (ii) “Administrator” means a person to whom administration is granted:
What was the law of Property Act 1925?
Law of Property Act, 1925: (xxvi) ” Trust corporation ” means the public trustee or a corporation either appointed by the court in any particular case to be a trustee or entitled by rules made under subsection (3) of section four of the [6 Edw. 7. c. 55.] Public Trustee Act, 1906, to act as custodian trustee:
What was the devolution of Real Estate Act 1925?
ARRANGEMENT OF SECTIONS. A.D. 1925. PART I. DEVOLUTION OF REAL ESTATE. Section. 1. Devolution of real estate on personal representative. 2. Application to real estate of law affecting chattels