Administration of estates (1871) (WA)

WESTERN AUSTRALIA

ANNO TRIGESIMO QUARTO

VICTORIA REGINjE

No. 12

An Act to abolish the distinction as to Priority of Pay- ment which now exists between the Specialty and Simple Contract Debts of Deceased Persons.

[Assented to 2nd .January, 1871.

HEREAS it is expedient to abolish the distinction as to priority

Wdeceased persons : Be it therefore enacted by His Excellency theof payment between specialty and simple contract debts of

Governor of Western Australia and its Dependencies, by and with the advice and consent of the Legislative Council thereof, as follows :-

All specialty mid	1. In the administration of the estate of every person who shall
simple contract

debts of deceased	die after the passing of this Act, no debt or liability of such person
persons to stand	shall be entitled to any priority or preference by reason merely that the
in equal degree	same is secured by or arises under a bond, deed or other instrument under seal or is otherwise made or constituted a specialty debt ; but all the creditors of such person, as well specialty as simple contract, shall be treated as standing in equal degree, and be paid accordingly out of the assets of such deceased person, whether such assets are legal or equitable, any statute, Ordinance or other law to the contrary not- withstanding : Provided always that this Act shall not prejudice or affect any lien, charge or other security which any creditor may hold or be entitled to for the payment of his debt.

FREDK. A. WELD,

GOVERNOR AND COMMANDER-IN-GEIER.