ADMINISTRATION OF ESTATES ACT (NORTHERN IRELAND) 1955 - SECT 37 Powers of personal representative as to appropriation.

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ADMINISTRATION OF ESTATES ACT (NORTHERN IRELAND) 1955 - SECT 37

Powers of personal representative as to appropriation.

37.(1) The personal representative may appropriate any part of the estate of
the deceased person in the actual condition or state of investment thereof at
the time of appropriation in or towards satisfaction of any legacy bequeathed
by the deceased person, or of any other interest or share in his property,
whether settled or not, as to the personal representative may seem just and
reasonable, according to the respective rights of the persons interested in
the property of the deceased person:

Provided that

(a)an appropriation shall not be made under this section

(i)so as to affect prejudicially any specific devise or bequest; or

(ii)unless notice of the intended appropriation has been served on all parties
interested in the residuary estate (other than persons who may come into
existence after the time of the appropriation or who cannot be found or
ascertained at that time) any one of which parties may within six weeks from
the service of such notice on him apply to the court to prohibit the
appropriation;

(b)an appropriation of property, whether or not being an investment authorised
by law or by the will, if any, of the deceased person for the investment of
money subject to the trust, shall not (save as in this section mentioned) be
made under this section except with the following consents:

(i)when made for the benefit of a person absolutely and beneficially entitled
in possession, the consent of that person;

(ii)when made in respect of any settled legacy, share or interest, the consent
of either the trustee thereof, if any (not being also the personal
representative), or the person who may for the time being be entitled to the
income:

(b)If the person whose consent is so required as aforesaid is an infant or a
person of unsound mind the consent shall be given on his behalf by his parents
or parent, testamentary or other guardian, committee or receiver, or if, in
the case of an infant there is no such parent or guardian, by the court on the
application of his next friend;

(c)no consent (save of such trustee as aforesaid) shall be required on behalf
of a person who may come into existence after the time of appropriation, or
who cannot be found or ascertained at that time;

(d)if no committee or receiver of a person of unsound mind has been appointed,
then, if the appropriation is of an investment authorised by law or by the
will, if any, of the deceased person for the investment of money subject to
the trust, no consent shall be required on behalf of the person of unsound
mind;

(e)if, independently of the personal representative, there is no trustee of a
settled legacy, share or interest, and no person of full age and capacity
entitled to the income thereof, no consent shall be required to an
appropriation in respect of such legacy, share or interest, provided that the
appropriation is of an investment authorised as aforesaid.

(2) Any property duly appropriated under the powers conferred by this section
shall thereafter be treated as an authorised investment, and may be retained
or dealt with accordingly.

(3) For the purposes of such appropriation, the personal representative may
ascertain and fix the value of the respective parts of the real and personal
estate and the liabilities of the deceased person as he may think fit, and may
for that purpose employ a duly qualified valuer in any case where such
employment may be necessary; and may make any conveyance or transfer
(including an assent) which may be requisite for giving effect to the
appropriation.

(4) Unless the court on an application made to it under sub-paragraph (ii) of
paragraph (a) of the proviso to sub-section (1) otherwise directs, an
appropriation made pursuant to this section shall bind all persons interested
in the property of the deceased person whose consent is not hereby made
requisite.

(5) The personal representative shall, in making the appropriation, have
regard to the rights of any person who may thereafter come into existence, or
who cannot be found or ascertained at the time of appropriation, and of any
other person whose consent is not required by this section.

(6) This section does not prejudice any other power of appropriation conferred
by law or by the will, if any, of the deceased person, and takes effect with
any extended powers conferred by the will, if any, of the deceased person, and
where an appropriation is made under this section, in respect of a settled
legacy, share or interest, the property appropriated shall remain subject to
all trusts for sale and powers of leasing, disposition, and management or
varying investments which would have been applicable thereto or to the legacy,
share or interest in respect of which the appropriation is made, if no such
appropriation had been made.

(7) If after any property has been appropriated in purported exercise of the
powers conferred by this section, the person to whom it was conveyed disposes
of it or any interest therein, then, in favour of a purchaser in good faith
and for value, the appropriation shall be deemed to have been made in
accordance with the requirements of this section and after all requisite
notices and consents, if any, had been given.

(8) In this section, a settled legacy, share or interest includes any legacy,
share or interest to which a person is not absolutely entitled in possession
at the date of the appropriation, also an annuity.

(9) This section applies whether the deceased person died intestate or not,
and whether before or after the commencement of this Act, and extends to
property over which a testator exercises a general power of appointment, and
authorises the setting apart of a fund to answer an annuity by means of the
income of that fund or otherwise.

(10) Where any property is appropriated under the provisions of this section a
transfer thereof by the personal representatives to the person to whom it is
appropriated shall not, by reason only that the property so transferred is
accepted by the person to whom it is transferred in or towards the
satisfaction of a legacy or a share in residuary estate, be liable to any
higher stamp duty than that payable on a transfer of personal property for the
like purpose.

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Northern Irish Legislation

ADMINISTRATION OF ESTATES ACT (NORTHERN IRELAND) 1955 - SECT 37