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Home » US Law » 2022 Indiana Code » Title 29. Probate » Article 1. Probate Code » Chapter 13. Collection and Management of Assets

29-1-13-1. Possession of Property; Duties of Personal Representative

Sec. 1. Every personal representative shall have a right to take, and shall take, possession of all the real and personal property of the decedent. The personal representative: (1) shall pay the taxes and collect the rents and earnings thereon until the estate is settled or until delivered by order of the court to the […]

29-1-13-1.5. Access to Safe Deposit Box; Duties of Financial Institutions

Sec. 1.5. (a) Upon the death of an individual, a financial institution shall grant access in the following order of priority to a safe deposit box leased by the individual at the time of the individual’s death: (1) A surviving joint lessee of the safe deposit box, upon the presentation of proof of the individual’s […]

29-1-13-11. Business of Decedent; Continuing

Sec. 11. Upon a showing of advantage to the estate, the court may authorize the personal representative to continue any business of the decedent for the benefit of the estate; but if the decedent died testate and his estate is solvent, the order of the court shall be subject to the provisions of the will. […]

29-1-13-12. Conveyance or Lease After Death of Decedent

Sec. 12. (a) When any person legally bound to make a conveyance or lease dies before making the same, the court, with or without notice, may direct the personal representative to make the conveyance or lease to the person entitled thereto. A petition for this purpose may be made by any person claiming to be […]

29-1-13-13. Contracts; Performance by Personal Representative

Sec. 13. If at the time of death the decedent was obligated by the terms of any contract to further performance under the contract, the decedent’s personal representative may, if it appears feasible and in the best interests of the estate, proceed to carry out the terms of such contract. In the event that the […]

29-1-13-14. Investment of Funds

Sec. 14. Subject to his primary duty to preserve the estate for prompt distribution, and to the terms of the will, if any, the personal representative may with the approval of the court whenever it is reasonable to do so, invest the funds of the estate and make then productive. Such investments shall be restricted […]

29-1-13-15. Deposit of Funds

Sec. 15. Whenever it is consistent with a proper administration of the estate, the personal representative may deposit, as a fiduciary, the funds of the estate in a bank in this state as a general deposit, either in a checking account or in a savings account. If the personal representative is a bank or trust […]

29-1-13-2. Preserving Estate; Action to Prevent Loss

Sec. 2. No executor named in the will shall interfere with the estate entrusted to him further than to preserve the same until the issuing of letters; but, for that purpose, he may prosecute any suit to prevent the loss of any part thereof. Formerly: Acts 1953, c.112, s.1302.

29-1-13-3. Actions; Trespass; Waste; Costs; Examine Party

Sec. 3. Every personal representative shall have full power to maintain any suit in any court of competent jurisdiction, in his name as such personal representative, for any demand of whatever nature due the decedent or his estate or for the recovery of possession of any property of the estate or for trespass or waste […]

29-1-13-4. Fraudulent Conveyances; Recovery

Sec. 4. The real and personal property liable for the payment of debts of a decedent shall include all property transferred by him with intent to defraud his creditors or any of them, or transferred by any other means which is in law void as against his creditors or any of them; and the right […]

29-1-13-5. Compromise; Debtor or Obligor

Sec. 5. When it appears for the best interest of the estate, the personal representative may on order of the court effect a fair and reasonable compromise with any debtor or other obligor, or extend, renew or in any manner modify the terms of any obligation owing to the estate. If the personal representative holds […]

29-1-13-6. Real Estate Interest as Personal Assets; Proceeds From Sale of Real Estate

Sec. 6. (a) Unless foreclosure shall have been completed and redemption period shall have expired prior to the death of a decedent, real property mortgages, the interest in the mortgaged premises conveyed thereby, and the debt secured thereby, or any real property acquired by the personal representative in settlement of a debt or liability, or […]

29-1-13-7. Mortgages; Release and Discharge

Sec. 7. When, in any case, a mortgage to the decedent is redeemed, or the debt secured thereby is or has been paid to the decedent or to his personal representative, the latter shall release and discharge the mortgage. Formerly: Acts 1953, c.112, s.1307.

29-1-13-8. Valueless Property; Abandonment

Sec. 8. When any property is valueless, or is so encumbered, or is in such condition that it is of no benefit to the estate, the court may order the personal representative to abandon it. Formerly: Acts 1953, c.112, s.1308.

29-1-13-9. Embezzlement; Conversion

Sec. 9. If a person embezzles or converts to the person’s own use the personal property of a decedent before the appointment of a personal representative, the person is liable to the estate for the value of the property embezzled or converted. Formerly: Acts 1953, c.112, s.1309. As amended by P.L.154-1990, SEC.8.