PUBLIC TRUSTEE ACT 1995 - SECT 32

PUBLIC TRUSTEE ACT 1995 - SECT 32

32—Public Trustee's duties with respect to unclaimed money or land

        (1)         If the Public Trustee has, as at 1 July in any year, held money to the credit of a deceased estate for at least six years and has been unable to find a person beneficially entitled to the money, the Public Trustee must, within one month, pay the money to the Treasurer for the credit of the Consolidated Account.

        (2)         If the Public Trustee has held land for at least 20 years and has been unable to find a person beneficially entitled to or interested in the land, the Public Trustee may, with the permission of the Court, sell the land and pay the proceeds of sale (less costs and expenses) to the Treasurer for the credit of the Consolidated Account.