Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For subsection 94(2) of the Act, this regulation sets how an authorised person may seize and dispose of the property of a deceased person.
(2) After property is seized, the authorised person must keep it secure until the authorised person disposes of it.
(3) On a sale of land under this regulation, the authorised person must comply with the law of the State or Territory where the land is situated for the transfer of title to land.
(4) The authorised person may sell as much of the property that is seized as will, in the opinion of the authorised person, be sufficient to raise the amount mentioned in subsection 94(1) of the Act.
(5) A sale of seized property must take place as soon as possible after the property is seized.
(6) After the authorised person sells seized property, he or she:
(a) may keep the reasonable costs incurred by him or her; and
(b) must give any remaining amount to the Regulator.
(7) The authorised person must tell the Regulator if the sale of all available property of the deceased person raises less than the amount mentioned in subsection 94(1) of the Act.