5(1)Section 33 of the M1Administration of Estates Act 1925 (implied trust for sale on intestacy) is amended as follows.E+W
(2)For subsection (1) substitute—
“(1)On the death of a person intestate as to any real or personal estate, that estate shall be held in trust by his personal representatives with the power to sell it.”
(3)In subsection (2), for the words from the beginning to “pay all” substitute—
“(2)The personal representatives shall pay out of—
(a)the ready money of the deceased (so far as not disposed of by his will, if any); and
(b)any net money arising from disposing of any other part of his estate (after payment of costs),
all”.
(4)In subsection (4), for the words from “including” to “retained” substitute “ and any part of the estate of the deceased which remains ”.
(5)The amendments made by this paragraph apply whether the death occurs before or after the commencement of this Act.
Marginal Citations