NSW Trustee and Guardian Act 2009
77Improvements of estate property may be charged on estate
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77 Improvements of estate property may be charged on estate
77 Improvements of estate property may be charged on estate
(cf PE Act, s 49)
(1) The cost of the improvement of property of the estate of a managed person may, with interest, be charged on the property improved or on any other property of the estate.
(2) A charge on property under this section may be created in favour of a person as trustee for the managed person, if the cost is paid from the personal estate of the managed person.
(3) A charge on property under this section must not confer any right of sale or foreclosure during the lifetime of the managed person.
(4) Any interest payable under a charge on property under this section must, during the lifetime of the managed person, be at a rate that is generally able to be paid out of the income of the estate. The interest must, as far as practicable, be paid out of that income.