120
In forceExercise price—how satisfied
Chapter 4Intestacy
Part 4.2Spouse’s entitlements
Division 2Spouse’s preferential right to acquire property from the estate
120 Exercise price—how satisfied
If a spouse elects to acquire property from the intestate estate, the exercise price is to be satisfied—
(a)
first from money to which the spouse is entitled from the intestate estate, and
(b)
if that is insufficient, from money paid by the spouse to the estate on or before the date of transfer.
This Act’s bill:Explanatory memorandumSecond reading speech
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