TREASURY AND RESOURCES DEPARTMENT
PROPERTY HOLDINGS
Property Transaction for Ministerial Decision - Minister for Treasury and Resources
Acceptance of Bequest ; Estate of the late Lilian Eileen Holt (n ée Cunnington)
NS/2074
Purpose
To seek the approval of the Minister for Treasury and Resources to accept the bequest of the late Mrs Lilian Eileen Holt (née Cunnington).
Background
In her last Will and Testament of moveable and immoveable estate dated 1st August 2005 , the late Lilian Eileen Holt (née Cunnington) bequeathed a one tenth share of their value to Health and Social Services. The bequest is conditional on the basis that it has to be used for the “Jersey Diabetic Society” and applied to the treatment of Diabetes in Jersey.
At the time of her death Mrs Holt’s immoveable estate consisted of a property, 6 Dene Close , St. Brelade, Jersey, with moveable estate being valued at £410,000.
Stamp duty has been paid in respect of the immoveable estate (£10,500) and moveable estate (£2,800). Insurance has been secured on behalf of all the benefactors in the event of a challenge of the Wills within a period of one year and one day.
Current Situation
Following the marketing of the above property on the open market by Messrs. Alder and Cunnington, a sale price has been agreed with a prospective purchaser at £675,000.
It is now necessary for the Minister for Treasury and Resources to confirm acceptance of the bequest, which is summarised as follows;-
Moveable Estate- one tenth share £41,000
Immoveable Estate - one tenth share £67,500
£108,500
Less Stamp Duty /Insurance –one tenth share £1,450
Approximate Value of Bequest £107,050
Recommendation
The Minister for Treasury and Resources is recommended to confirm acceptance of the most generous bequest of the late Mrs Lilian Eileen Holt (neé Cunnington) comprising a one tenth share of her moveable and immoveable estate for Health and Social Services for the benefit of the Jersey Diabetic Society to be applied to the treatment of Diabetes in the Island of Jersey.
Written By: Neil Sproston
Signature …………………………
Authorised By: Eric le Ruez
Signature ………………………… Date 31 July 2007