Deceased Persons Estates Act 1879 (SA)

ANNO QUADRAGESIMO SECUNDO ET QUADRAGESIMO

TERTIO

No. 140.

An Act to abolish thc Distinction and Priority of I'ay-

ment which now exist between the Specialty

and Simplc Contract Debts of .Deceased Persons.

HEREAS it is expedient to abolish the distinction as to priority Preamble.

W of p a p e n t between spedalty and simple contract debts of deceased persons-Be it therefore Enacted by the Governor of the Province of South Australia, by and with the advice and consent of the Legislative Council and House of Assembly of the said province,

or other instruments shall bc entitled to priority or preference, according

in this present Parliament asscnibled, as-follo~vs :

I n the administration of the esttte of every person who shall die AII ~peeialty and

on or after the first day of January, one thousand eight Ilundred ~ f " { ~ ~ ~ ~ ~ ~ ', " ~: "

and eighty, no debt or liability of such person shall be entitled to to staufi in equal

any priority or preference by reason merely that the same is secured degree*

by or arises under a bond, deed, or other instrument under seal, or

is otherwise made or constituted a specialty debt; but all the credi-

tors 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 or other law to the contrary notwithstanding: Provided always, that this Act shall not prejndice or affect any bond, deed, o; other instrument, under seal given or executed before the coming into oycration hereof; but all-such bonds, deeds,

42' & 43' VICTORIIE, No. 140.

- - - -p- -. _ - _ --

Decemed P e ~ s o ~ t s Debts Act.-l 879.

according to the law at present in force: and provided also that this Act shall not prejudice or affect any lien, charge, or other security which any creditor may hold or bc entitled to for the payment of his debt.

Tn the name and on behalf of Her Majesty, I hereby assent

t o this Bill.

VTM. F. DRTJMMOND JERVOIS, Governor.

-

Adelaide : By authority, E. SPILLEP, Acting Gorernmcnt Printer, North-terrace.