9Maximum fees for trustee matters

9 Maximum fees for trustee matters

9 Maximum fees for trustee matters

(1) The NSW Trustee may charge an estate the following fees, up to the amount prescribed for each fee—

(a) for the notation and recording of an assignment, mortgage or other dealing affecting a beneficiary’s share in an estate—0.68 fee units, payable from the share of the relevant beneficiary,

(b) for work involved in, or in preparation for, becoming a legal representative for the estate, if the NSW Trustee does not become a legal representative—4.5 fee units,

(c) to sell land forming part of the estate when authorised by court order—

(i) if the land is sold—

(A) on the first $100,000 of the sale price—4%, and

(B) on the next $100,000 of the sale price—3%, and

(C) on the next $100,000 of the sale price—2%, and

(D) on the amount over $300,000 of the sale price—1%, or

(ii) if the land is not sold—4.5 fee units.

(2) Subsection (1)(c) is subject to a contrary order of the court.

(3) The NSW Trustee may charge a fee of no more than 3 fee units for the NSW Trustee’s attempt to realise an asset in the estate if—

(a) the NSW Trustee made the attempt at a beneficiary’s request, and

(b) the asset is transferred or delivered to the beneficiary.

(4) The NSW Trustee may charge a fee to make inquiries or advertise to locate a beneficiary or next of kin, including if the existence or identity of a beneficiary or next of kin is not known or definitely established, subject to the following—

(a) the fee must not be more than 5% of the net value of the estate after original claims have been paid,

(b) the fee may be charged to—

(i) the estate, or

(ii) the relevant share of the estate for which the NSW Trustee makes the inquiries or advertisements.