Section 43-2-852 – Terms and Requirements of Bonds.
Section 43-2-852 Terms and requirements of bonds. (a) The following requirements and provisions apply to any bond required under Section 43-2-850: (1) Sureties are jointly and severally liable with the personal representative and with each other. (2) By executing an approved bond of a personal representative, the surety consents to the jurisdiction of the court […]
Section 43-2-837 – Duty of Personal Representative; Possession of Estate.
Section 43-2-837 Duty of personal representative; possession of estate. Except as otherwise provided by a decedent’s will, every personal representative has a right to, and shall take possession or control of, the decedent’s property, except that any real property or tangible personal property may be left with or surrendered to the person presumptively entitled thereto […]
Section 43-2-853 – Application to Existing Estates.
Section 43-2-853 Application to existing estates. (a) Estates filed for probate prior to January 1, 1994, the administration of which continues in effect after January 1, 1994, are unaffected by this article. Those estates continue in effect and administration continues as they existed prior to this article with all the powers and duties previously granted […]
Section 43-2-838 – Power to Avoid Transfers.
Section 43-2-838 Power to avoid transfers. The property liable for the payment of unsecured debts of a decedent includes all property transferred by the decedent by any means which is in law void or voidable as against creditors, and subject to prior liens, the right to recover this property, so far as necessary for the […]
Section 43-2-854 – Avoiding Conflicts of Law.
Section 43-2-854 Avoiding conflicts of law. Nothing contained in this article shall be construed to abrogate any right, authority, or discretion conferred upon a personal representative or other fiduciary under any other law. (Acts 1993, No. 93-722, p.1411, §26.)
Section 43-2-839 – Powers of Personal Representatives; in General.
Section 43-2-839 Powers of personal representatives; in general. Until termination of the appointment, a personal representative has the same power over the title to property of the estate, subject to Sections 43-2-843 and 43-2-844, that an absolute owner would have, in trust however, for the benefit of the creditors and others interested in the estate. […]
Section 43-2-840 – Improper Exercise of Power; Breach of Fiduciary Duty.
Section 43-2-840 Improper exercise of power; breach of fiduciary duty. If the exercise of power concerning the estate is improper, the personal representative is liable to interested persons for damage or loss resulting from breach of the personal representative’s fiduciary duty to the same extent as a trustee of an express trust. The rights of […]
Section 43-2-841 – Sale, Encumbrance, or Transaction Involving Conflict of Interest; Voidable; Exceptions.
Section 43-2-841 Sale, encumbrance, or transaction involving conflict of interest; voidable; exceptions. Any sale or encumbrance to the personal representative, the personal representative’s spouse, agent or attorney, or any corporation or trust in which the personal representative has a substantial beneficial interest, or any transaction which is affected by a substantial conflict of interest on […]
Section 43-2-810 – Continuance Upon Showing of Insolvency.
Section 43-2-810 Continuance upon showing of insolvency. During the progress of any civil action against an executor or administrator, he may show that such estate has been reported insolvent; and, upon such showing, the case must be continued until the final disposition of such report. (Code 1852, §1858; Code 1867, §2207; Code 1876, §2579; Code […]
Section 43-2-811 – Special Plea of Insolvency.
Section 43-2-811 Special plea of insolvency. The executor or administrator may, at any time before judgment, plead specially that the estate has been declared insolvent; and, in such case, the other issues must be tried and judgment entered thereon. (Code 1852, §1859; Code 1867, §2208; Code 1876, §2580; Code 1886, §2250; Code 1896, §318; Code […]