Common Contracts
1 similar Redistribution Agreement contracts
Redistribution agreement deceased estate templateRedistribution Agreement • July 28th, 2023
A Redistribution Agreement is an agreement entered into by and between the heirs (testate or intestate) or legatees, and in some instances the surviving spouse, of a deceased estate in terms whereof they agree to equitably vary the bequest(s) made in the deceased’s Will; or in terms whereof they equitably vary the distribution of the estate in terms of intestate succession, as they see fit. Although it is not a requirement, the Executor of the estate may also be a party to the agreement, in his/her capacity as Executor. The heirs or legatees cannot enter into a redistribution agreement with persons who are not heirs or legatees or the surviving spouse(s) to the estate. For example, a trust, a company, or a close corporation having no right of inheritance from the estate (for example by will), albeit the heirs being trustees, beneficiaries, directors, or members of such entities, cannot be a party to Redistribution Agreement. In terms of the provisions of the Deeds Registries Act, 47 of
