Australian Capital Territory Current Acts

ADMINISTRATION AND PROBATE ACT 1929 - SECT 41A

    (1)     The following are assets for the payment of the funeral, testamentary and administrative expenses and the debts and other liabilities of a deceased person:

        (a)     the real and personal property of the person, to the extent of the person's beneficial interest in it;

        (b)     any real and personal property disposed of by the person's will in exercise of a general power.

    (2)     If a person—

        (a)     on whom a beneficial interest in any property referred to in subsection (1) devolves; or

        (b)     to whom such an interest is given; or

        (c)     in whom such an interest vests;

disposes of the interest or of a part of the interest in good faith before a proceeding is taken or process is sued out against him or her, the person is personally liable for the value of the interest or part so disposed of, but the interest or part is not liable to be taken in execution in the proceeding or under the process.