What is trustee act 1925 section 27?

A friend of mine is in the process of suing someone who has ped away, before she died she delayed things as much as possible, and told blatant lies, anyhow, a notice has come up in the paper saying all claims against the estate are to be made by august to do with "trustee act 1925 section 27" we have also found out that she "gave away" a number of properties to a friend before she died. (or sold at ridiculous low price) does this mean the estate is no more or something? appreciate any help and sorry I am waffling!