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TRUSTEE ACT 1925 - SECT 45A

Equitable life tenant--conditions on entry into possession

45A Equitable life tenant--conditions on entry into possession

(1) In this section,
"prescribed trustee" means the NSW Trustee or a trustee company.
(2) Where the equitable life tenant of land which is comprised in an estate committed to the administration or management of a prescribed trustee is entitled to the possession of that land or to the receipt of the rents and profits of that land, the prescribed trustee may, by notice in writing served on that life tenant, require the life tenant to comply with such conditions as to--
(a) the keeping in repair of the buildings and other erections upon the land,
(b) the payment of rents, taxes, rates and other outgoings affecting the land that are not of a capital nature, and
(c) the payment of premiums in respect of policies of insurance against the loss of or damage to the buildings and other erections upon the land,
as the prescribed trustee thinks fit.
(3) If an equitable life tenant of land breaches any condition which a prescribed trustee has required the life tenant to comply with pursuant to subsection (2), the prescribed trustee may serve a notice on the life tenant stating that unless the breach is rectified within a reasonable time specified in the notice the prescribed trustee will be entitled to enter into possession of the land and to receive the rents and profits of the land for the purpose of rectifying the breach.
(4) If a breach of a condition is not rectified within the time specified in the notice served on an equitable life tenant of land under subsection (3)--
(a) the prescribed trustee is entitled to enter into possession of the land and to receive the rents and profits of the land for the purpose of rectifying the breach, and
(b) the life tenant ceases to be so entitled until the breach is rectified.
(5) Where a prescribed trustee rectifies a breach of condition imposed on an equitable life tenant of land, any money received by the prescribed trustee pursuant to subsection (4) that was not applied for the purpose of rectifying the breach shall be paid to that life tenant.
(6) A prescribed trustee shall not require an equitable life tenant of land to comply with any condition pursuant to this section if--
(a) any instrument by which the estate concerned was committed to the administration or management of the prescribed trustee--
(i) expressly prohibits the prescribed trustee from exercising the power conferred by this section, or
(ii) expressly excuses the life tenant from complying with the condition, or
(b) the Court so orders.
(7) A notice under this section may be served either personally or by post.



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