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interest accruing to the estate on account of money loaned by them belonging to the estate, or otherwise, and for that purpose may take testimony, or examine the executor or administrator on oath.
SEC. 101. Every executor and administrator at the first term at which he is required to make settlement, shall render to the probate court a statement, on oath, of the amount of money of the estate actually on hand.
Sec. 192. If, on the return of the inventory, or at any other time, it shall appear to the satisfaction of the probate court that there is a surplus of money in the hands of the executor or administrator, that will not be shortly required for the administration or payment of debts, it shall have discretionary power to order him to lend out the money on such terms, and for such time as may be deemed best.
SEC. 105. If personal property shall be bound by the lien of an execution or executions, whether such execution or executions shall have been levied or not at the time of the death of the testator or intestate, the executor or administrator shall, nevertheless, inventory, cause to be appraised, and sell the same as if no such lien existed, except that a separate inventory, appraisement and sale bill of such property, shall be made and returned.
Power to lend money.
SEC. 103. The probate court may, at any time, make Speedy collecsuch orders as the interest of the estate may require, for the speedy collection of debts, or the sale or distribution of personal property.
SEC. 104. All executors and administrators may give Receipts and receipts and discharges for money received by them on account of the deceased, but if there be more than one executor or administrator, a majority shall join in such receipt or discharge, or they shall be void.
When bound by lion.
SEC. 106. The proceeds of the sale of such personal How applied. property shall be applied, under the direction of the probate court, in the following manner:
First, When there is but one execution, to the payment
of such execution, and the residue, if any, shall be assets to be administered according to law.
Second, When there is more than one execution, the liens whereof are of even date, to the payment of such executions, and the residue, if any, shall be assets, to be administered according to law; but if such proceeds shall not be sufficient to pay the whole, then in proportion to their respective amounts.
Third, When there is more than one execution, the liens whereof are of uneven dates, and such proceeds shall not be sufficient to pay the whole, to the payment thereof, according to their priority of lien.
Sec. 107. The provisions of the two preceding sections shall not be construed to deprive the widow of the benefit of the eighty-third section of this title, nor to deprive the demands classed in the first and second subdivision of the one hundred and forty-thi d section of this title, of their precedence over all other demands against the estate of the deceased.
Sec. 108. In all cases where any person shall die, leaving a widow or other family, the probate court has power, if in its opinion it will not be prejudicial to creditors, and will be advantageous to such widow or others entitled to distribution in the estate, to order that no more of the personal estate shall be sold than will be sufficient to pay the debts : Provided, The probate court shall take good and sufficient security that the property shall be forthcoming to answer the demand of any creditor, or others concerned in the estate.
Sec. 109. In the cases specified in the preceding section, the executor or administrator shall make an inventory and appraisement of the estate as in other cases, but he shall leave such personal property as is ordered not to be sold, in possession of the widow or other family, who shall use and enjoy the same untll the probate court shall order such property to be administered.
Sec. 110. If property is about to be sold in the vacation of the probate court, any judge of such probate
Power of court
Inventory sod appraisement.
Likely to be injured
Fer gond cause
court has power upon the petition of the executor or administrator, or of any other person interested in the estate, to order the suspension or such sale until the next term of the probate court.
Src. 111. In any case where the court has ordered that property shall not be sold, if it shall appear to the probate court that such property is likely to be injured or Wasted, or that those interested therein would be benefited thereby, such court shall order that such estate be forth with alministered ; and in such cases the rights of all persons interested shall be the same as if the order provided for in the one hundred and ninth section of this title, had not been made.
Sec. 112. For good cause shown, the probate court may continue any matter or proceeding arising before it under this act, on such terms as it may consider just.
Of the duties Respecting the Sale of Real Estate.
SEC. 113. The sale and conveyance of real estate under a will shall be made by the acting executor or administrator, with the will annexed, if no other person be appointed for that purpose by the will, or if such person fail to perform the trust.
Sec. 114. If any person die, having purchased real estate, and shall not have completed the payment, nor devised such estate, nor provided for the payment by will, and the completion of such payment would be beneficial to the estate and not injurious to creditors, the executor or administrator, by order of the probate court, may complete such payment out of the assets in his hands, and such estate shall be disposed of as other real estate.
SEC. 115. If the court believe that after the payment Interest in die of debts, there will not be sufficient to pay for such real estate, the court may order the executor or administrator to sell all the right, title, and interest of the deceased therein.
Sec. 116. If such real estate has been purchased from individuals, the court may, if it believe it advantageous to the estate, order the same to be relinquished to such individ
Sal. of real estat.
If any phorson die.
Officer to accept relinquishment.
Executor to relinquish, &c.
Xale of real estate.
SEC. 117. If such real estate shall have been purchased from any officer authorized by law to sell school lands, the probate court may, in its discretion, order the same to be relinquished, and in such cases the officer shall be authorized to accept of such relinquishment, and surrender the obligation of the deceased.
the most advantageous terms that can be agreed
SEC. 118. If any person die, having mortgaged any real estate, or mortgaged or pledged any personal property, or owing any equity of redemption, and shall not have devised the same, or provided for the redemption of the same by will, the probate court, upon the application of any person interested, may order the executor or administrator to redeem such estate out of the personal assets, if it would be beneficial to the estate, and not injurious to the creditors.
SEC. 119. If such redemption would injure the estate or creditors, or there would not be assets to redeem such estate after payment of debts, the court shall order all the right, title and interest of the estate to such property to be sold at public sale.
SEC. 120. In cases of relinquishment of the interest of the testator or intestate, under the provisions of the one hundred and seventeenth and one hundred and eighteenth sections of this title, and in all cases of the sale of the interest of the testator or intestate, under the one hundred and sixteenth and one hundred and twentieth sections of this title, the executor or administrator shall be competent, by deed, to make such relinquishment, or to convey to the purchaser all of the right, title and interest the testator or intestate had in and to such real estate at the time of his death.
SEC. 121. If any person die and not have personal estate sufficient to pay his debts, the executor or administrator shall file a petition to the probate court, stating the facts, and praying for the sale of the real estate, or so much thereof as will pay the debts.
SEC. 122. If such real estate be bound by the lien of a judgment, the executor or administrator shall state that fact in his petition, the date and amount of the judgment, and the name of the person in whose favor the same was rendered.
SEC. 123. The proceeds of the sale of such real estate shall be first applied to the payment of such judgment, an i the residue, if any, shall become assets in the hands of the executor or administrator, to be administered according to law.
SEC. 124. If such real estate be bound by the lien of several judgments, the executor or administrator shall state that fact in his petition, the dates and amounts of such judgments, and the names of the persons in whose favor the same were rendered.
SEC. 125. The proceeds of the sale of such real estate shall be first applied to the payment of such judgments according to their priority of lien.
SEC. 126. The residue of such proceeds, if any, shall become assets in the hands of the executor or administrator, to be administered according to law.
SEC. 127. If the lien of such several judgments be of even date, and the proceeds of such sale shall not be sufficient to pay the whole, such proceeds shall be applied to the payment of such several judgments in proportion to their respective amounts.
SEC. 128. The petition to be filed according to the provisions of the one hundred and twenty-first section of this title, shall be accompanied by a true account of his administration, a list of the debts due to and by the deceased, and remaining unpaid, and an inventory of the real estate and of the remaining personal estate, with its appraised value, and all the other assets in his hands, the whole to be verified by the affidavit of the executor or administrator.
SEC. 129. If such executor or administrator do not Ten days stile. make such application, any ereditor or other person interested in the estate, may make such application, giving ten days notice to the executor or administrator.