Page:United States Statutes at Large Volume 47 Part 1.djvu/1062

 1038 72d CON GRESS. SESS. II. - CH. 127. F EBRUA RY 27, 1933 . said property exceeds in value the amount of the entire obligation thereon, and an order is asked directing or permitting said special administrator to pay all or any part of the amount so secured, the cou rt or judge sha ll fix a time for the hea ri ng of sa id petition and sha ll direct notice of not less than ten da ys to be given by po st ing in th ree p ublic plac es and by perso nal s ervic e on all p artie s who By court order. have appeared or their attorneys. At the ti me so appointed, if the allegations of such petition shall be proven to the satisfaction of the court and it shall appear to be for the best interests of said Interest. estat e, the cou rt may ord er the spe cial admin istra tor to pay inte rest or ot her portions or the who le of the se cur ed debt, and, in its d is- cre ti on, may direct the sp ec ial administrator to ta ke proceedings to secur e fun ds for suc h pur pose. Any su ch order for payment of -interest may als o direct that interest not yet accrued be pai d as it becomes due and such order shall remain in effect and cover su ch future interest un til and unless the re aft er for goo d cau se set asi de or modified by the court upo n sim il ar petition and notice to th at hereinabove provided. Will foun d sub se- W ILLS FOUN D AFTER LE TTE RS OF ADMIN ISTRA TION GRANT ED AND MIS CEL- LANEOUS PROVISIONS Letters to sdm probate. SEC. 758 . PREEXISTING GRANT OF LE TTERS , WHE N REV OKED .- -U hon i~gion to probate . the ad missi on to prob ate of a w ill a fter a gra nt of lett ers of adm in- istration on the ground of intestacy, or upon the admission to probate ofa later will than the one before admitted to probate, the preexist- ing g rant of le tters test ament ary or of admin istra tion must be revoked, and the administrator or executor whose grant of authority is thus terminated must render an account of his administration within su ch ti me as the court may direct. Powers of executor. SEC. 759. POWER OF EXECUTOR IN SUC$ A CASE.-In such case, the executor or the administrator with the will annexed is entitled to demand, sue for, recover, and collect all the rights, goods, chattels, debts, and effects of the decedent remaining unadministered, and may prosecute to final judgment any suit commenced by the admin- istrator before the revocation of his letters of administration. Remaining adminis- SEC. 760 . REMA INING ADMI NISTR ATOR OR E XECUT OR TO CON TINUE trator or executor. WHEN HIS COLLEAGUES ARE DISQUALIFIED. -- In ca se any one of several executors or administrators, to whom letters are granted, dies, becomes lunatic, is convicted of an infamous crime, or otherwise becomes incapable of executing the trust ; or in case the letters testa- mentary or of administration are revoked or annulled, with respect to any one executor or administrator, the remaining executor or administrator must proceed to complete the execution of the will or administration. When no executor, SEC. 761. WHO TO ACT WHEN -ALL A CTING ARE INCOMPETENT .-If all etc., competent. such executors or administrators die or become incapable, or the power and authority of all of them is revoked, the court must issue l etter s of admin istra tion, with the will annex ed or othe rwise , to the widow or next of kin, or others, in the same order and manner as is d irect ed in rela tion to or igina l let ters of ad minis trati on. The admin- istrators so appointed mus t giv e bon d in the like penalty, wi th li ke sureties and conditions, as hereinbefore required of administrators, and shall have the like power and authority. Resignation. SEC. 762. EXECUTOR OR ADMINISTRATOR MAY RESIGN, WHEN ; COURT TO APPOINT SUCCESSOR ; LIABILITY OF ouTGOER .-Any executor or admin- istrator ma y, at any ti me, by writing, filed in, the dis tr ict court, resign his appointment, having fi rst settled his accounts and deliv- e red up all the estat e t o t h e person whom the court shall appoint