Sec. 11. Upon a showing of advantage to the estate, the court may authorize the personal representative to continue any business of the
decedent for the benefit of the estate; but if the decedent died
testate and his estate is solvent, the order of the court shall be subject to the provisions of the will. The order may be with or without notice. If notice is not given to all interested persons before the order is made, notice of the order shall be given within five (5) days after the order, and any such person not previously notified by publication or otherwise may show cause why the order should be revoked or modified. The order may provide:
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Terms Used In Indiana Code 29-1-13-11
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Decedent: A deceased person.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Testate: To die leaving a will.
(b) The extent of the liability of the estate, or any part thereof, or the personal representative, for obligations incurred in the continuation of the business;
(c) As to whether liabilities incurred in the conduct of the business are to be chargeable solely to the part of the estate set aside for use in the business or to the estate as a whole; and
(d) As to the period of time for which the business may be conducted, and such other conditions, restrictions, regulations and requirements as the court may order.
Formerly: Acts 1953, c.112, s.1311.
