Effect of death of owner or holder of certain other interests
33AV Effect of death of owner or holder of certain other interests
On the death of a person who is the sole owner of a water share, the share forms part of the estate of that person.
On the death of a person who owns a water share as a joint tenant with other persons, the remaining owners of the water share become the joint owners of the share.
On the death of a person who owns a water share as a tenant in common with other persons, that person's portion of the water share becomes part of the estate of that person.
On the death of a person who is the sole holder of a limited term transfer, the transfer forms part of the estate of that person.
On the death of a person who holds a limited term transfer as a joint tenant with other persons, the remaining holders of the limited term transfer become the joint holders of the transfer.
On the death of a person who holds a limited term transfer as a tenant in common with other persons, that person's portion of the limited term transfer becomes part of the estate of that person.
S. 33AV(7) inserted by No. 32/2010 s. 17(2).
On the death of a person who holds a mortgage over a water share, the mortgage forms part of the estate of that person.
S. 33AV(8) inserted by No. 32/2010 s. 17(2).
On the death of a person who holds a mortgage over a water share as a joint tenant with other persons, the remaining holders of the mortgage become the joint holders of the mortgage.
S. 33AV(9) inserted by No. 32/2010 s. 17(2).
On the death of a person who holds a mortgage over a water share as tenant in common with other persons, that person's portion of the mortgage becomes part of the estate of that person.
S. 33AVA inserted by No. 28/2014 s. 10.
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