Document ID: chunk:federal_register_of_legislation:C2025C00167:section:249:p5
Version: federal_register_of_legislation:C2025C00167
Segment Type: section
Provision Reference: s 249 (pt 5/6)
Character Range: 762139–764732

a deceased person under this Part is, by virtue of section 247A, to be deemed to have commenced after the death of the deceased person, the divisible property of the estate comprises:
 (a) property that formed part of the estate at the commencement of administration of the estate under this Part other than:
 (i) property that, if the deceased person had not died and a sequestration order had been made against him or her at that time, would not have been divisible amongst his or her creditors under Part VI; or
 (ii) so much of:
 (A) the proceeds of a policy of life assurance or endowment assurance; or
 (B) a payment from a regulated superannuation fund (within the meaning of the Superannuation Industry (Supervision) Act 1993) or an approved deposit fund (within the meaning of that Act); or
 (BAA) a payment from an exempt public sector superannuation scheme (within the meaning of that Act); or
 (BA) a payment from an RSA;
  as would not have been divisible among the creditors of the deceased person under Part VI if:
 (C) the deceased person had not died; and
 (D) a sequestration order had been made against the deceased person at that time; and
 (E) the amount concerned had been paid at that time;
 (b) property that was or is acquired by, or devolved or devolves on, the estate after the commencement of administration under this Part and before an order releasing the estate from administration under this Part is made, not being property that, if the deceased person had not died and a sequestration order had been made against him or her at the commencement of administration of his or her estate under this Part, would not have been divisible amongst his or her creditors under Part VI;
 (c) the capacity to exercise, and to take proceedings for exercising, all such powers in, over or in respect of property as might have been exercised by the legal personal representative of the deceased person for the benefit of the estate at the commencement of administration under this Part or at any time after that time and before an order releasing the estate from administration under this Part is made; and
 (d) property that forms part of the divisible property of the estate by virtue of section 251 and any amount for which a person is liable to account to the trustee of the estate under subsection 251(2).
 (9) The value of any improvements made to property owned by a deceased person in respect of whose estate an order is made for administration under this Part and another person or other persons as joint tenants shall, for the purposes of paragraph (6)(e) or (7)(e),