§ 29-1-13-11 — Business of decedent; continuing

Indiana § 29-1-13-11

• Jurisdiction: Indiana
• Art. 1: PROBATE CODE
• Ch. 13: Collection and Management of Assets

Text

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. The order may be with or without
notice. If notice is not given to all interested persons before the order
is made, notice of the order shall be given within five (5) days after the
order, and any such person not previously notified by publication or
otherwise may show cause why the order should be revoked or
modified. The order may provide:
(a) For the conduct of the business solely by the personal
representative or jointly with one (1) or more of the decedents'
surviving partners, or as a corporation to be formed by the personal
representative alone or acting with others;
(b) The extent of the liability of the estate, or any part thereof, or the
personal representative, for obligations incurred in the continuation of
the business;
(c) As to whether liabilities incurred in the conduct of the business
are to be chargeable solely to the part of the estate set aside for use in
the business or to the estate as a whole; and
(d) As to the period of time for which the business may be
conducted, and such other conditions, restrictions, regulations and
requirements as the court may order.
Formerly: Acts 1953, c.112, s.1311.