Powers of Public Trustee in respect to uncared-for property.

Expenses incurred by Public Trustee to be a charge upon property.

Public Trustee to advertise notice of intention to act.

Powers of Public Trustee as to sale or lease of land.

Rescission of order on application of owner, &c.

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Public Trust Office Amendment Act 1907

Public Act		1907 No 53
Date of assent		20 November 1907

	Title
1	Short Title.
2	Powers of Public Trustee in respect to uncared-for property.
3	Expenses incurred by Public Trustee to be a charge upon property.
4	Public Trustee to advertise notice of intention to act.
5	Moneys to be held in trust for owner.
6	Powers of Public Trustee as to sale or lease of land.
7	Rescission of order on application of owner, &c.
8	Order not affected by mistake of fact.

An Act to amend the Public Trust Office Consolidation Act, 1894.

BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:—

1 Short Title.

This Act may be cited as the Public Trust Office Amendment Act, 1907, and shall form part of and be read together with the Public Trust Office Consolidation Act, 1894.

2 Powers of Public Trustee in respect to uncared-for property.

When the owner of any real or personal property is absent from New Zealand and has no agent in New Zealand with authority to take possession of and administer such property, or when it is not known who the owner of such property is, or when it is not known where he is, or when it is not known whether he is alive or dead, or when he is dead and has left executors or administrators who are dead or whose whereabouts are unknown, a Judge of the Supreme Court may, on the application ex parte of the Public Trustee, and on being satisfied that the exercise of the powers hereinafter mentioned is advisable in the interests of the owner of the property or in the interests of any other person, make an order, on such terms and conditions as such Judge thinks fit, authorising the Public Trustee to exercise in respect of such property all or any of the following powers, that is to say:—

(a.)

To take possession of the said property:

(b.)

To bring any action or other proceeding relating to the said property, and to defend, confess, or submit to judgment in any or all actions, claims, demands, and proceedings touching such property:

(c.)

To sell the said property or any part thereof:

(d.)

To lease the said property or any part thereof for a term not exceeding twenty-one years:

(e.)

To receive, sue for, and recover any moneys owing to the owner of the said property:

(f.)

To insure any buildings or goods against loss by fire:

(g.)

To pay rates, taxes, and other outgoings payable in respect of such property:

(h.)

To pay, out of moneys received by him in the exercise of any of the foregoing powers, any debts owing by the owner of the said property:

(i.)

To apply moneys received by him in the exercise of any of the foregoing powers in the maintenance of the wife, husband, or children of the owner of the said property:

(j.)

To execute in his own name and on behalf of the said owner all deeds and other instruments which may be necessary for any of the purposes aforesaid.

3 Expenses incurred by Public Trustee to be a charge upon property.

All expenses incurred by the Public Trustee in the execution of the powers conferred on him by this Act shall be a charge upon the said property, and shall bear interest at five per centum per annum, and such charge shall come next in priority to any mortgage or charge to which the said property is subject when he takes possession of the same.

4 Public Trustee to advertise notice of intention to act.

On taking possession of any property under this Act the Public Trustee shall publish in the Gazette, and in some newspaper circulating in the district in which the property is situated, a notice of his intention to exercise the powers conferred on him by virtue of this Act.

5 Moneys to be held in trust for owner.

All moneys received by the Public Trustee in the exercise of the powers conferred on him by virtue of this Act shall, after payment thereout of all moneys authorised to be expended by him, be held by him in trust for the owner of the said property.

6 Powers of Public Trustee as to sale or lease of land.

In respect of any lease, sale, or other disposition of the said property made by the Public Trustee in pursuance of this Act, the Public Trustee shall have the same powers as if he were the owner of the said land, and all deeds and other documents executed by him in pursuance of this Act shall be registered, and have effect in all respects as if executed by the owner of the said property.

7 Rescission of order on application of owner, &c.

The owner of any property in respect of which any order has been so made, or any person having any interest in the said property or in any part thereof, may at any time after the making of the order, on notice to the Public Trustee, make application to a Judge of the Supreme Court to rescind the said order, and the same may thereupon be rescinded accordingly on such terms as the Judge thinks fit; but no such rescission shall affect any charge acquired by the Public Trustee under this Act, or the validity of any act or thing done by the Public Trustee during the continuance of the said order and in pursuance thereof.

8 Order not affected by mistake of fact.

No order made under this Act, and nothing done in pursuance of any such order, shall be or become invalid or inoperative merely because it has been made or done under a mistake of fact, or because the owner of the property is dead at the time when the order is made or has died since the making thereof, or because of any disposition of the said property made by the owner thereof during the subsistence of the order.

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Public Trust Office Amendment Act 1907