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if there are not quite enough shares to
partition out the area needed, the partitioning
owner may pay the difference in cash as
assessed by the valuer. on the other hand,
the partitioner may own more than enough
shares and may decide to leave some shares
in the residue block with the other owners.
if there are not quite enough shares to
partition out the area needed, the partitioning
owner may pay the difference in cash as
assessed by the valuer. on the other hand,
the partitioner may own more than enough
shares and may decide to leave some shares
in the residue block with the other owners.
(vi) Succession by will – where a testator died after 1 July 1994 the right to succeed under a will is limited by s108 of the Act
to certain classes of people.
(vi) Succession by will – where a testator died after 1 July 1994 the right to succeed under a will is limited by s108 of the Act to certain classes of people.
‘Simple’ succession applications have no complicating
factors. Examples of what could be considered ‘simple’
succession includes:
• all the people to succeed are the natural children of the
person who has passed away, and they will all receive
equal shares in the interests; or
• further land interests or shares owned by a person who
has passed away are identified and can be succeeded
to by the same people in the same way as the earlier
interes...
In this order, the term trust land refers to the land owned by the trust, and the term trust
property refers to any other assets of the trust.
F. If the trustees acquire further land or other assets for the purposes of the trust, that land
becomes trust land, and the other assets become trust property.