Land Act, 1931

Distribution of small amounts of purchase-money.

35.—(1) Where either the total purchase-money of an estate or the residue of the purchase-money of an estate remaining after providing for all claims payable thereout does not exceed thirty pounds, such purchase-money or such residue (as the case may be) may be paid to the person in possession or in receipt of the income of the estate for his own benefit or, in the case of the incapacity of such person, to the guardian, committee, husband, or trustee (as the case may require) of such person.

(2) Where either the total purchase-money of an estate out of which no claims are payable or the residue of the purchase-money of an estate remaining after providing for all claims payable thereout exceeds thirty pounds but does not exceed one hundred pounds, such purchase-money or such residue (as the case may be) may be paid to the person in possession or receipt of the income of the estate or to trustees to be appointed or approved by the Land Commission upon the undertaking in the prescribed manner of such person or such trustees to apply such purchase-money or such residue as if it were capital money arising under the Settled Land Acts, 1882 to 1890.

(3) Where any superior interest or an apportioned part thereof is redeemed under the Land Purchase Acts and portion of the redemption price is applied in providing for the redemption of the whole or an apportioned part of a higher superior interest or for any other claim payable out of such redemption money, then—

(a) if the residue of such redemption price remaining after providing for all such claims does not exceed thirty pounds, such residue may be paid to the person in possession or in receipt of the income of such superior interest for his own benefit or, in case of the incapacity of such person, to the guardian, committee, husband, or trustee (as the case may require) of such person; and

(b) if such residue exceeds thirty pounds and does not exceed one hundred pounds, such residue may be paid to the person in possession or receipt of the income of such superior interest or to trustees to be appointed or approved by the Land Commission upon the undertaking in the prescribed manner of such person or such trustees to apply such residue as if it were capital money arising under the Settled Land Acts, 1882 to 1890.

(4) The provisions of this section in relation respectively to the purchase-money and to the residue of the purchase-money of an estate shall apply with the necessary modifications respectively to any fund and to the residue of any fund which is distributable by the Court and to which none of the provisions of this section (other than this sub-section) nor of section 63 of the Irish Land Act, 1903 , apply.

(5) Where the total amount of the purchase-money of an estate, the redemption price of a superior interest, or any other fund distributable by the Court exceeds one hundred pounds but does not exceed three hundred pounds, strict investigation of title and compliance with legal requirements in relation to the ascertainment and verification of claims against such fund may be dispensed with to such extent as shall be approved of by the Court.