South Australian Current Acts South Australian Current Acts85—Specialty and simple contract debts of deceased persons to stand in
equal degree
(1) Despite any Act or
law to the contrary, no debt or liability of a deceased person is entitled to
priority or preference by reason only of the fact that the debt or liability
is secured or arises under a bond, deed or other instrument under seal or is
otherwise made or constituted a specialty debt rather than a debt under a
simple contract, and all the creditors of the person are to be treated as
standing in equal degree and are to be paid accordingly out of the assets
(whether legal or equitable) of the deceased person.
(2) This section does
not affect any lien, charge or other security that a creditor holds or is
entitled to for the payment of debt.