Victorian Consolidated Legislation

Guardianship and Administration Act 1986 - SECT 53

Interest of represented person in property not to be altered by sale or other disposition of property

53. Interest of represented person in property not to be altered by sale or
other disposition of property



(1) A represented person and her or his heirs, executors, administrators, next
of kin, devisees, legatees and assigns have the same interest in any money or
other property arising from or received in respect of any sale, mortgage,
exchange, partition or other disposition under the powers given to an
administrator by an order of the Tribunal which have not been applied under
those powers as she, he or they would have had in the property the subject of
the sale, mortgage, exchange, partition or disposition if no sale, mortgage,
exchange, partition or disposition had been made.

(2) For the purposes of this section money arising from the compulsory
acquisition or purchase under any Act of property of a represented person is
deemed to be money arising from the sale of that property under the powers
given to an administrator by an order of the Tribunal.

(3) An administrator who receives money or other property under this section
must keep a separate account and record of the money or other property.

(4) Money received by an administrator under this section may be invested in
any manner in which trust funds may be invested under the Trustee Act 1958.

(5) In this section and section 56 next of kin in relation to a represented
person means any person who would be entitled to the property of the
represented person or to any share thereof under any law for the distribution
of the property of intestates if the represented person had died intestate.