43Administrator may pay funds of estate to persons where search has ceased for next of kin

43 Administrator may pay funds of estate to persons where search has ceased for next of kin

(1)  If the administrator of an estate has exercised his or her discretion under section 42 and ceased to search for next of kin and the administrator is satisfied that there are persons whose whereabouts are known who are entitled under this Act to the whole or part of the estate, the administrator may pay the whole or part of the estate to those persons.

(2)  If the administrator of the estate pays part only of the funds of the estate under subsection (1) to persons who the administrator considers are entitled, the remainder of the funds of the estate is to be dealt with as unclaimed money under section 36A of the Public Trustee Act 1930 , section 32 of the Trustee Companies Act 1953 or Division 3 of Part 3.2 of Chapter 3 of the Legal Profession Act 2007 , as the case may require.