1. Unless a contrary intention is indicated by the will, the distributable assets of a
decedent's estate shall be distributed in kind to the extent possible through application
of the following provisions:
a. A specific devisee is entitled to distribution of the thing devised, and a spouse or
child who has selected particular assets of an estate as provided in section
30.1-07-01 shall receive the items selected.
b. Any homestead or family allowance or devise payable in money may be satisfied
by value in kind provided:
(1)The person entitled to the payment has not demanded payment in cash.
(2)The property distributed in kind is valued at fair market value as of the date
of its distribution.
(3)No residuary devisee has requested that the asset in question remain a part
of the residue of t
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1. Unless a contrary intention is indicated by the will, the distributable assets of a
decedent's estate shall be distributed in kind to the extent possible through application
of the following provisions:
a. A specific devisee is entitled to distribution of the thing devised, and a spouse or
child who has selected particular assets of an estate as provided in section
30.1-07-01 shall receive the items selected.
b. Any homestead or family allowance or devise payable in money may be satisfied
by value in kind provided:
(1) The person entitled to the payment has not demanded payment in cash.
(2) The property distributed in kind is valued at fair market value as of the date
of its distribution.
(3) No residuary devisee has requested that the asset in question remain a part
of the residue of the estate.
c. For the purpose of valuation under subdivision b, securities regularly traded on
recognized exchanges, if distributed in kind, are valued at the price for the last
sale of like securities traded on the business day prior to distribution, or if there
was no sale on that day, at the median between amounts bid and offered at the
close of that day. Assets consisting of sums owed the decedent or the estate by
solvent debtors as to which there is no known dispute or defense are valued at
the sum due with accrued interest or discounted to the date of distribution. For
assets which do not have readily ascertainable values, a valuation as of a date
not more than thirty days prior to the date of distribution, if otherwise reasonable,
controls. For purposes of facilitating distribution, the personal representative may
ascertain the value of the assets as of the time of the proposed distribution in any
reasonable way, including the employment of qualified appraisers, even if the
assets may have been previously appraised.
d. The residuary estate must be distributed in any equitable manner.
2. After the probable charges against the estate are known, the personal representative
may mail or deliver a proposal for distribution to all persons who have a right to object
to the proposed distribution. The right of any distributee to object to the proposed
distribution on the basis of the kind or value of asset the distributee is to receive, if not
waived earlier in writing, terminates if the distributee fails to object in writing received
by the personal representative within thirty days after mailing or delivery of the
proposal.