Section 25 — Wills Act 2007: Disposition to unincorporated association of persons
Text of the provision Official document
25 Disposition to unincorporated association of persons (1) This section applies when a will disposes of property— (a) to an unincorporated association of persons that is not a charity; or (b) to or on trust for the purposes of an unincorporated association of persons that is not a charity; or (c) to or on trust for the present and future members of an unincorporated association of persons that is not a charity. (2) The will-maker's executor must do one of the following with the property that is the subject of the disposition: (a) transfer it to the association; or (b) pay it into the general funds of the association, if necessary after turning it into money. (3) The transfer of the property is an absolute discharge to the executor for the transfer of the property, if all the following apply: (a) the transfer is to 1 or more persons; and (b) the persons are designated in writing or electronically; and (c) the designation is by any 2 persons doing the duties of president, treasurer, or secretary of the association. (4) A receipt issued by a person doing the duties of treasurer of the association is an absolute discharge to the executor for the payment into the general funds of the association. (5) Subsections (3) and (4) do not apply as follows: (a) subsection (3) does not apply if the will makes it clear that the will-maker intended the transfer to be handled in some other way: (b) subsection (4) does not apply if the will makes it clear that the will-maker intended the payment to be handled in some other way. (6) The following are not objections to the effectiveness of a disposition to an unincorporated association of persons: (a) that a list cannot be compiled of the association's members at the time when the will-maker died; or (b) that the association's members have no power to divide the association's assets beneficially amongst themselves. (7) Section 61B of the Charitable Trusts Act 1957 overrides this section.
Official source: legislation.govt.nz
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