Indiana Code 29-1-13-13. Contracts; performance by personal representative
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Terms Used In Indiana Code 29-1-13-13
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Decedent: A deceased person.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 13. If at the time of death the decedent was obligated by the terms of any contract to further performance under the contract, the decedent’s personal representative may, if it appears feasible and in the best interests of the estate, proceed to carry out the terms of such contract. In the event that the performance of such contract shall necessitate the expenditure of funds of the estate, or shall require the utilization of assets other than property which is itself the subject matter of such contract, such personal representative shall request and receive instructions from the court regarding the performance of the contract.
Formerly: Acts 1953, c.112, s.1313. As amended by P.L.136-2018, SEC.217.