100% de satisfacción garantizada Inmediatamente disponible después del pago Tanto en línea como en PDF No estas atado a nada
logo-home
Succession Notes - Study Units 1-3 5,29 €   Añadir al carrito

Notas de lectura

Succession Notes - Study Units 1-3

 8 vistas  0 compra
  • Grado
  • Institución

Notes on Study Units 1-3. Topics in April Test. Covered the 71 pages of the Study Units concisely in 21 Pages. STUDY UNIT 1: GENERAL INTRODUCTION TO THE LAW OF SUCCESSION AND THE ADMINISTRATION OF DECEASED ESTATES STUDY UNIT 2: THE LAW OF SUCCESSION AND THE CONSTITUTION STUDY UNIT 3: TH...

[Mostrar más]

Vista previa 1 fuera de 3  páginas

  • 29 de marzo de 2023
  • 3
  • 2022/2023
  • Notas de lectura
  • Prof du toit
  • Todas las clases
avatar-seller
INTRODUCTION TO SUCCESSION & ADMINISTRATION OF DECEASED ESTATES


Law of Succ def: legal rules regulating the devolution (distribution / division / transfer) of assets from estate of deceased estate owner to
such an estate owner’s successors (beneficiaries).


Elements of def: The legal rules that govern the law of succession originate from: statute law (acts of Parliament); case law (court
judgments); the common law (Roman-Dutch law). The law of succession is concerned with the transfer of the deceased’s assets. The
deceased’s liabilities (the deceased’s debts that are unpaid at the time of the deceased’s death) are not transferred onto his/her successors.


Estate: accumulation of deceased’s assets & liabilities.


Death: transfer of deceased’s assets to successors can occur only once deceased passed away


Successors: those who succeed to deceased’s assets in terms of law of succession - receive deceased’s assets after passed away, also
called the beneficiaries.


Dual system: common law of succession - origins in RDL & Eng law; Cust law - laws of SA’s various Black population groups.


Common law of succession is sub-divisible into three branches:

1) Law of testate succession: applies when deceased has made will.

2) Law of intestate succession: applies in absence of a will

3) Succession by contract: deceased has, prior to death, entered into a contract regarding division of estate assets upon death.
Generally invalid, with exception of two instances: antenuptial contract; the donatio mortis causa - a contract of donation made in
contemplation of death of donor, the party who donates asset(s) to another upon death.


Administration of deceased estates: When estate owner dies, estate is subjected to a legal process called administration (or
winding-up) of the deceased estate. Administration is a statutory process & regulated by the Administration of Estates Act 66 of 1965. 2
important functionaries are involved in administration process: Master of HC & executor of deceased estate:


1. Master of HC: Each HC in SA has a Master’s office. Master and their staff at each Master’s office attend to a number of legal &
administrative functions regarding deceased estates, trusts, insolvent estates, curatorship, etc. Master’s functions regarding
administration of deceased estates: supervision of administration process and the activities of executors advisory & other
administrative functions in regard to administration process.


2. Executor: party who actively administers a deceased estate. Usually nominated in deceased’s will = executor testamentary. If
deceased left no will or will left by the deceased contains no nomination of executor, Master nominates executor to administer
deceased’s estate = executor dative. Nomination as an executor is not sufficient to make one an executor - must also be appointed
by Master through issuing of letters of executorship. Letters of executorship officially make person executor of specific deceased
estate. Once Master has issued letters of executorship, appointed executor can commence functions regarding administration of
specific deceased estate.

Los beneficios de comprar resúmenes en Stuvia estan en línea:

Garantiza la calidad de los comentarios

Garantiza la calidad de los comentarios

Compradores de Stuvia evaluaron más de 700.000 resúmenes. Así estas seguro que compras los mejores documentos!

Compra fácil y rápido

Compra fácil y rápido

Puedes pagar rápidamente y en una vez con iDeal, tarjeta de crédito o con tu crédito de Stuvia. Sin tener que hacerte miembro.

Enfócate en lo más importante

Enfócate en lo más importante

Tus compañeros escriben los resúmenes. Por eso tienes la seguridad que tienes un resumen actual y confiable. Así llegas a la conclusión rapidamente!

Preguntas frecuentes

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

100% de satisfacción garantizada: ¿Cómo funciona?

Nuestra garantía de satisfacción le asegura que siempre encontrará un documento de estudio a tu medida. Tu rellenas un formulario y nuestro equipo de atención al cliente se encarga del resto.

Who am I buying this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller jamielouross1. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for 5,29 €. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

45,681 summaries were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 14 years now

Empieza a vender
5,29 €
  • (0)
  Añadir