Victorian Consolidated Legislation

Trustee Companies Act 1984 - SECT 11A

Election by trustee company to administer estate

11A. Election by trustee company to administer estate



(1) A trustee company may file an election in the prescribed form to
administer an estate in the office of the Registrar if-

   (a)  no grant of administration has been made to any person; and

   (b)  the trustee company would be entitled to a grant of administration.

(2) A trustee company may file an election in the prescribed form in
accordance with the regulations to administer the estate of a testator in the
office of the Registrar if-

   (a)  no grant of probate of the will or administration with the will
        annexed has been made to any person; and

   (b)  the trustee company would be entitled to a grant of probate of the
        will or of administration with the will annexed.

(3) The filing of an election is to be taken to be the grant of administration
or probate to the trustee company.

(4) This section applies to an estate the gross value of which is estimated by
the trustee company at the time of the election not to exceed $50 000.

(5) An election cannot be filed-

   (a)  if there is in force a caveat against any application for probate or
        administration lodged with the Registrar; and

   (b)  until the expiry of 14 days after the publication in a daily newspaper
        circulating generally throughout Victoria of a notice of intention to
        file the election; and

   (c)  unless there is attached an inventory of the estate.

(6) Within one month of the filing of an election the trustee company must
publish notice of the election in a daily newspaper circulating generally
throughout Victoria.

(7) A notice of election is conclusive evidence that the trustee company is
entitled to administer the estate to which the election relates.

(8) Even though an election has been filed any person may apply to the Court
for a grant of probate or administration.

(9) The Court may grant an application on any terms and conditions the Court
thinks fit and may revoke the election.

(10) If after filing an election the gross value of the property to be
administered is found to exceed the sum of $60 000 the trustee company must as
soon as practicable file with the Registrar a memorandum stating the fact and
apply in the same manner as any other person for a grant of probate or
administration (as the case requires).

(11) A trustee company must file a revocation of an election in the office of
the Registrar if the trustee company finds that-

   (a)  the deceased who was believed to have died intestate has died leaving
        a will; or

   (b)  the document annexed to the election as the testator's last will has
        been revoked by a later will; or

   (c)  the document annexed to the election has no testamentary validity
        because the deceased died intestate.

(12) In this section, Registrar means the Registrar of Probates and
Administration of the Court.