Section 205 — Property Law Act 2007: Administrator or trustee liable only to extent of assets of estate or trust

205 Administrator or trustee liable only to extent of assets of estate or trust An administrator of the estate of a person or a trustee to whom land is transferred, assigned, or transmitted, subject to a mortgage, is liable under section 203 only to the extent of the assets of the estate or trust in the administrator’s or trustee’s hands and available for meeting the obligations under the mortgage. Compare: 1952 No 51 s 104(2)