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Exercise of testamentary options and interest on instalments payable under them (Re estate of Edna May Phoenix)

Exercise of testamentary options and interest on instalments payable under them (Re estate of Edna May Phoenix)
Published on: 07 July 2020
Published by: LexisPSL
  • Exercise of testamentary options and interest on instalments payable under them (Re estate of Edna May Phoenix)
  • What are the practical implications of this case?
  • What was the background?
  • What did the court decide?
  • Service of the notice
  • Interest
  • Case details

Article summary

Private Client analysis: A Will named three executors (one professional plus the two residuary beneficiaries). The clause naming the executors only specified the address of the professional. Another clause conveyed an option to purchase land, exercisable by notice served on the executors. The beneficiary of the option served his notice by handing it to the professional executor at the address described in the Will. It was accepted that, to be valid, service had to be on all three executors. The other executor said the notice was void as it was not served on him. The court, however, held that the clause naming the executors should be interpreted as specifying the professional’s address as the address for service for all of them. The notice was therefore valid. However, since the payment pursuant to the option had not been accepted, payment was late. The court held that interest was therefore payable under section 35A of the Senior Courts Act 1981 (SCA 1981). Written by Francis Ng, barrister, at Selborne Chambers. or take a trial to read the full analysis.

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