Page:United States Statutes at Large Volume 79.djvu/756

 716

PUBLIC LAW 89-183-SEPT. 14, 1965

[79 STAT.

§20-708. Co-executor or co-administrator may file inventory if others neglect to do so Where there is more than one executor or administrator, any one or more of them, on the neglect of the others, may, if authorized by the court, return an inventory. CHAPTER 9—ASSETS OF ESTATE Sec.

20-901. Assets to be included in inventory and administered. 20-902. Discharge or bequest of debt or demand not valid against creditors; disposition. 20-903. Claims of testator against executor not discharged; disposition; liability of surety. 20-904. Failure of executor to include claims of testator against executor in inventory; remedy. 20-905. Debt due by administrator or collector. § 20-901. Assets to be included in inventory and administered (a) The inventory required by chapter 7 of this title shall include: (1) leases for years; (2) estates for the life of other persons; (3) all goods, wares, merchandise, utensils, and furniture, and things annexed to the freehold which may be removed without prejudice thereto; (4) the growing crop on the land of the deceased; and (5) every other species of personal property, except the clothing of the widow and minor children of the deceased and personal ornaments suitable to their station, and except the property exempted by section 20-706. (b) The items specified by subsection (a) of this section, except those excluded from the inventory by clause (5) thereof, together with the proceeds of real estate sold for the payment of debts, constitute assets to be administered by an executor or administrator. § 20-902. Discharge or bequest of debt or demand not valid against creditors; disposition A discharge or bequest in a will, of a debt or demand of a testator is not valid as against the creditors of the deceased, but constitutes only as a specific bequest of the debt or demand, and the amount thereof shall be included in the inventory of the effects of the deceased and included as an asset for the payment of his debts, if necessary for that purpose, and, if not so necessary, shall be paid in the same manner and proportion as other specific legacies. § 20-903. Claims of testator against executor not discharged; disposition; liability of surety The naming of a person as executor in a will is not a discharge or bequest of a just claim which the testator had against him. The claim shall be included among the credits and effects of the deceased in the inventory, and the executor is liable for it, as for so much money in his hands, at the time the debt or demand becomes due. He shall apply and distribute it, in the payment of debts and legacies and among the next of kin, as part of the personal estate of the deceased. However, the sureties of the executor are not liable where the claim against the executor would have been uncollectible if another person had been executor.

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