(a)As used in this section, “decedent’s business” means an unincorporated business or venture in which the decedent was engaged or which was wholly or partly owned by the decedent at the time of the decedent’s death, but does not include a business operated by a partnership in which the decedent was a partner.
(b)If it is to the advantage of the estate and in the best interest of the interested persons, the personal representative, with or without court authorization, may continue the operation of the decedent’s business; but the personal representative may not continue the operation of the decedent’s business for a period of more than six months from the date letters are first issued to a personal representative unless a court order has been obtained under this section authorizing the p
Free access — add to your briefcase to read the full text and ask questions with AI
(a)
As used in this section, “decedent’s business” means an unincorporated business or venture in which the decedent was engaged or which was wholly or partly owned by the decedent at the time of the decedent’s death, but does not include a business operated by a partnership in which the decedent was a partner.
(b)
If it is to the advantage of the estate and in the best interest of the interested persons, the personal representative, with or without court authorization, may continue the operation of the decedent’s business; but the personal representative may not continue the operation of the decedent’s business for a period of more than six months from the date letters are first issued to a personal representative unless a court order has been obtained under this section authorizing the personal representative to continue the operation of the business.
(c)
The personal representative or any interested person may file a petition requesting an order (1) authorizing the personal representative to continue the operation of the decedent’s business or (2) directing the personal representative to discontinue the operation of the decedent’s business. The petition shall show the advantage to the estate and the benefit to the interested persons of the order requested. Notice of the hearing on the petition shall be given as provided in Section 1220.
(d)
If a petition is filed under this section, the court may make an order that either:
(1)
Authorizes the personal representative to continue the operation of the decedent’s business to such an extent and subject to such restrictions as the court determines to be to the advantage of the estate and in the best interest of the interested persons.
(2)
Directs the personal representative to discontinue the operation of the decedent’s business within the time specified in, and in accordance with the provisions of, the order.