71 Inheritance If Person Holds In Trust Or By Mortgage

• 71 (1) If an estate or interest of inheritance, or limited to the heir as special occupant in any tenements or hereditaments, corporeal or incorporeal, is vested on a trust or by way of mortgage in a person solely, then on the person’s death and despite any testamentary disposition, it devolves to and becomes vested in the person’s personal representative as if it were a chattel real vesting in the personal representative.
• (2) The personal representative referred to in subsection (1) has all the similar powers for one only of several joint personal representatives, for a single personal representative, and for all the personal representatives together, to dispose and otherwise deal with the estate or interest referred to in that subsection, with all the similar incidents, but subject to all the similar rights, equities and obligations, as if the estate or interest were a chattel real vesting in the representative.
• (3) For the purpose of this section, the personal representative of the deceased is deemed in law to be the heir and assign within the meaning of all trusts and powers.
• (4) This section applies only in cases of deaths after April 17, 1896.

1979-414-71.