§ 29-1-17-1 — Order of court; perishable property; depreciable property; storage or preservation; income and profits

Indiana § 29-1-17-1

• Jurisdiction: Indiana
• Art. 1: PROBATE CODE
• Ch. 17: Distribution and Discharge

Text

(a) At any time during the administration, upon
application of the personal representative or any distributee, with or
without notice as the court may direct, the court may order the personal
representative to deliver to any distributee, who consents to it,
possession of any specific real or tangible personal property to which
he is entitled under the terms of the will or by intestacy, provided that
other distributees and claimants are not prejudiced thereby. The court
may at any time prior to the decree of final distribution order him to
return such property to the personal representative if it is for the best
interest of the estate. The court may require the distributee to give
security for such return.
(b) At any time during the administration, when it is apparent that
the estate is solvent, the court in its discretion may order distribution
to the persons entitled thereto of such items of property of the estate as:
(1) are perishable in nature,
(2) would materially depreciate in value if distribution were
delayed, or
(3) would necessitate the expenditure of estate funds for storage
or preservation if not distributed.
Such distribution may be with or without security or notice to the
interested parties as the court may direct.
(c) After the expiration of the time limited for the filing of claims
and before final settlement of the accounts of the personal
representative, a partial distribution may be decreed, with notice to
interested persons as the court may direct. Such distribution shall be as
conclusive as a decree of final distribution, except that the court may,
as provided in section 2(d) of this chapter, modify such decree of
partial distribution to the extent necessary to protect the other
distributees and claimants, and assure them that they will receive the
amount due them on final distribution. Before a partial distribution is
so decreed, the court may require that security be given for the return
of the property so distributed to the extent necessary to satisfy any
distributees and claimants who may be prejudiced as aforesaid by the
partial distribution.
(d) The person to whom possession or distribution has been made
under the provisions of this section, shall be entitled to the income and
profits from such property.
Formerly: Acts 1953, c.112, s.1701; Acts 1955, c.258, s.9. As
amended by Acts 1982, P.L.171, SEC.48; P.L.163-2018,
SEC.11.