PROTECTION AFFORDED
mortgaged POLICIES nKP.TOII’S LIFE INSURANCE (Per Press Association.) WELLINGTON, this day. All the members of the Court of Appeal, agreed upon ..Life answers which should bo given ,-ift the ease of Wheeler vAtho Rank of/Australasiu. They held tjfat the protection afforded to policy moneys by, sections 65 and 66 of the . Life I Insurance Act, 1908, as amended, applies in the ease, of moneys payable under policies mortgaged in the manner in which the testator had mortgaged; his policies. This .protection applies in favor of t he widow and children of the deceased as and in the manner in which they are entitled to take under the will. The right of election arising under sec-; tions 65 and 66 is to he exercised by tluv personal representatives of the deceased, who were required to make an election within a. reasonable time. The court expressed the opinion that the action of the. trustee in bringing the matter before Ihe Court of Appeal was justified, anti ordered the, costs of all parties to . be taxed and paid out of the. estate, other than the fund in dispute.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/PBH19350713.2.135
Bibliographic details
Poverty Bay Herald, Volume LXII, Issue 18757, 13 July 1935, Page 15
Word Count
187PROTECTION AFFORDED Poverty Bay Herald, Volume LXII, Issue 18757, 13 July 1935, Page 15
Using This Item
The Gisborne Herald Company is the copyright owner for the Poverty Bay Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in