Section 46 — Property Law Act 2007: Payment and recovery of apportioned part of periodical payment
Text of the provision Official document
46 Payment and recovery of apportioned part of periodical payment (1) An apportioned part of a periodical payment is payable and recoverable,— (a) for a continuing right to a payment, only when the entire payment becomes payable and recoverable: (b) for a payment the continuing right to which has ceased because of death, re-entry, or another cause, only when the entire payment would have become payable and recoverable if the continuing right to the payment had not ceased. (2) A person entitled to an apportioned part of a periodical payment— (a) has, when the entire payment becomes payable and recoverable, the same remedies for recovering the apportioned part as would have been available in respect of the entire payment; but (b) must bear a proportionate part of any allowance which should properly be made in respect of the entire payment. (3) Subsection (2) is subject to section 47(2) . Compare: 1952 No 51 ss 146 , 147
Official source: legislation.govt.nz
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