Administration of Estates Act, 1965
R 385
Administration of Estates Act, 1965 (Act No. 66 of 1965)Chapter II: Deceased Estates27. Inventories by executors and valuation at instance of Master |
| 1) | An executor who has been ordered thereto by the Master or who in terms of section 23 was required to find security, shall— |
| a) | within thirty days after letters of executorship have been granted to him, or within such further period or periods as the Master may allow, lodge with the Master an inventory in the prescribed form signed by him in person showing the estimated value of all property in the estate; and |
| b) | thereafter, whenever he comes to know of any such property which is not mentioned in any inventory lodged by him with the Master, within fourteen days after he has come to know of such property, or within such further period as the Master may allow, lodge with the Master an additional inventory so signed by him showing the estimated value thereof. |
| 2) | If in any inventory lodged with the Master in terms of section 9 or subsection (1) of this section, any estimate has been made of the value of any property which the Master has reason to believe is not a reasonably correct estimate thereof, the Master may, at the expense of the estate, order that property to be appraised by an appraiser or any other person approved by the Master. |
