Stamp Act · 2022 Revised Edition · Part · Estate Duties
78. Charges of estate duty on property
Official textFrom Attorney General's Chambers, unchanged
A rateable part of the estate duty on an estate, in proportion to the value of any property which does not pass to the executor as such, shall be a first charge on the property in respect of which duty is leviable:
Provided that the property shall not be so chargeable as against a bona fide purchaser thereof for valuable consideration without notice.
property
“property” includes movable and immovable property and any estate in any property movable or immovable and any debt and anything in action and any other right or interest in the nature of property whether in possession or not;
Reimbursement of executor
executor
“executor” means the executor or administrator of a deceased person and includes as regards any obligation under this Part, any person who takes possession of or intermeddles with the property of a deceased person;
If the rateable part of the estate duty in respect of any property is paid by the executor, it shall when occasion requires be repaid to him by the trustees or owners of the property.
Stamp 58
Raising estate duty by sale, mortgage or terminable charge
mortgage
“mortgage” means a security by way of mortgage for the payment of any definite and certain sum of money advanced or lent at the time, or previously due or forborne to be paid, being payable, or for the repayment of money to be thereafter lent, advanced or paid, or which may become due upon an account current, together with any sum Stamp already advanced or due, or without, as the case may be; and includes — (a) any conveyance of any property in trust to be sold or otherwise converted into money intended only as a security and redeemable before the sale or other disposal thereof either by express stipulation or otherwise; (b) any instrument in writing for defeating or making redeemable or explaining or qualifying any conveyance of property apparently absolute but intended only as a security; (c) any agreement for a mortgage or any agreement, contract or bond accompanied with a deposit of title deeds for making a mortgage of any property or for pledging or charging the same as a security;
A person authorised or required to pay the estate duty in respect of any property shall, for the purpose of paying the duty or raising the amount of duty when already paid, have power, whether the property is or is not vested in him, to raise the amount of such duty and any interest and expenses properly paid or incurred by him in respect thereof by the sale or mortgage or a terminable charge on that property or any part thereof.
Payment by limited owner
A person having a limited interest in any property who pays the estate duty in respect of that property shall be entitled to the like charge as if the estate duty in respect of that property had been raised by means of a mortgage to him.
Payment of duty out of “capital money”
money
“money” includes all sums whether expressed in the currency of Brunei Darussalam or in any other currency;
Any money arising from the sale of property comprised in a settlement or held upon trust to lay out upon the trusts of a settlement may be expended in paying any estate duty in respect of property comprised in the settlement and held upon the same trusts.
settlement
“settlement” means any non-testamentary disposition in writing whether made voluntarily or upon a good or valuable consideration other than a bona fide pecuniary consideration whereby any definite and certain property is settled or agreed to be settled in any manner for any purpose whatsoever;
Terms defined in this Act
chargeable
Defined · s 2“chargeable” means, as applied to an instrument executed or first executed after the commencement of this Act, chargeable under this Act, and as applied to any other instrument chargeable under the law in force in Brunei Darussalam when such instrument was executed or, when several persons executed the instrument at different times, first executed;
executor
Defined · s 82“executor” means the executor or administrator of a deceased person and includes as regards any obligation under this Part, any person who takes possession of or intermeddles with the property of a deceased person;
money
Defined · s 2“money” includes all sums whether expressed in the currency of Brunei Darussalam or in any other currency;
mortgage
Defined · s 2“mortgage” means a security by way of mortgage for the payment of any definite and certain sum of money advanced or lent at the time, or previously due or forborne to be paid, being payable, or for the repayment of money to be thereafter lent, advanced or paid, or which may become due upon an account current, together with any sum Stamp already advanced or due, or without, as the case may be; and includes — (a) any conveyance of any property in trust to be sold or otherwise converted into money intended only as a security and redeemable before the sale or other disposal thereof either by express stipulation or otherwise; (b) any instrument in writing for defeating or making redeemable or explaining or qualifying any conveyance of property apparently absolute but intended only as a security; (c) any agreement for a mortgage or any agreement, contract or bond accompanied with a deposit of title deeds for making a mortgage of any property or for pledging or charging the same as a security;
property
Defined · s 2“property” includes movable and immovable property and any estate in any property movable or immovable and any debt and anything in action and any other right or interest in the nature of property whether in possession or not;
settlement
Defined · s 2“settlement” means any non-testamentary disposition in writing whether made voluntarily or upon a good or valuable consideration other than a bona fide pecuniary consideration whereby any definite and certain property is settled or agreed to be settled in any manner for any purpose whatsoever;
Part