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Legal Terms - ad colligenda bona
The text is written in Latin which means "To gather the assets". The court has the authority to issue letters of administration ad colligenda bona to an individual in order to manage certain assets in an estate if there is a risk of harm to those assets due to delay. The objective of the grant is to acquire and safeguard assets. For instance, if a portion of the estate comprises of perishable commodities, the court may authorize the appointment of a competent individual to administer and manage those products, with the purpose of selling or handling them in a manner that benefits the estate. This appointment is known as administration ad colligenda bona. This grant is restricted and will end until a full grant of representation is issued to the individuals authorized to handle the entire estate. On one occasion, the Official Solicitor was granted a grant at the request of HM Revenue and Customs due to the executors of the deceased's will causing a delay in applying for probate.
The text is written in Latin which means "To gather the assets". The court has the authority to issue letters of administration ad colligenda bona to an individual in order to manage certain assets in an estate if there is a risk of harm to those assets due to delay. The objective of the grant is to acquire and safeguard assets. For instance, if a portion of the estate comprises of perishable commodities, the court may authorize the appointment of a competent individual to administer and manage those products, with the purpose of selling or handling them in a manner that benefits the estate. This appointment is known as administration ad colligenda bona. This grant is restricted and will end until a full grant of representation is issued to the individuals authorized to handle the entire estate. On one occasion, the Official Solicitor was granted a grant at the request of HM Revenue and Customs due to the executors of the deceased's will causing a delay in applying for probate.
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