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ADMINISTRATION OF ESTATES ACT (NORTHERN IRELAND) 1955 - SECT 49

Short title.

49. This Act may be cited as the Administration of Estates Act (Northern
Ireland), 1955.

Section 30.

1. The funeral, testamentary, and administration expenses have priority.

2. Subject as aforesaid, the same rules shall prevail and be observed as to
the respective rights of secured and unsecured creditors and as to debts and
liabilities provable and as to the valuation of annuities and future and
contingent liabilities respectively, and as to the priorities of debts and
liabilities as may be in force for the time being under the law of bankruptcy
with respect to the assets of persons adjudged bankrupt.

1. Property of the deceased person undisposed of by will, subject to the
retention thereout of a fund sufficient to meet any pecuniary legacies.

2. Property of the deceased person not specifically devised or bequeathed but
included (either by a specific or general description) in a residuary gift,
subject to the retention out of such property of a fund sufficient to meet any
pecuniary legacies, so far as not provided for as aforesaid.

3. Property of the deceased person specifically appropriated or devised or
bequeathed (either by a specific or general description) for the payment of
debts.

4. Property of the deceased person charged with, or devised or bequeathed
(either by a specific or general description) subject to a charge for, the
payment of debts.

5. The fund, if any, retained to meet pecuniary legacies.

6. Property specifically devised or bequeathed, rateably according to value.

7. Property appointed by will under a general power, rateably according to
value.

8. The following provisions shall also apply

(a)The order of application may be varied by the will of the deceased.

(b)This part of this Schedule does not affect the liability of land to answer
the death duty imposed thereon in exoneration of other assets.

Second ScheduleAmendments. Third Schedule rep. by SLR 1973




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