the inventory, and be appraised as other property. The surviving partner shall settle the affairs of the partnership without delay, and account with the executor or administrator, and pay over such balances as may from time to time be payable to him, in right of the decedent. Upon the application of the executor or administrator, the court may, if it appears necessary, order the surviving partner to render an account, and in case of neglect or refusal may, after notice, compel it by attachment; and the executor or administrator may maintain against him any action which the decendent could have maintained. § 1413. Operation of business of decedent After notice to all persons interested in an estate, given in such manner as the court directs, the court may authorize the executor or administrator to continue the operation of the decedent's business to such an extent and subject to such restrictions as the court considers to be for the best interest of the estate and those interested therein. § 1414. Actions by and against executors and administrators Actions for the recovery of property, real or personal, or for the possession thereof, or to quiet title thereto, or to enforce a lien thereon, or to determine an adverse claim thereon, and all actions founded upon contracts, or upon a liability for physical injury, death, or injury to property, may be maintained by and against executors and administrators in all cases in which the cause of action, whether arising before or after death, is one that would not abate upon the death of their respective testators or intestates. § 1415. Actions for waste, destruction, taking, conversion, or trespass Executors and administrators may maintain an action against a person who has wasted, destroyed, taken, or carried away, or converted to his own use, the property of the decedent, in his lifetime, or committed a trespass on the real estate of the decedent in his lifetime; and a person or his personal representatives may maintain an action against the executor or administrator of a decedent who in his lifetime has wasted, destroyed, taken, or carried away, or converted to his own use, the property of such person, or committed a trespass on his real estate. This section does not apply to an action founded upon a wrong resulting in physical injury or death of a person. § 1416. Actions on bond of former executor or administrator An executor or administrator may, in his own name, maintain actions on the bond of a former executor or administrator of the same estate, for the use and benefit of all parties interested in the estate. § 1417. Unqualified executors as parties In actions by or against executors, it is not necessary to join as parties those to whom letters were ordered to be issued, but who have not qualified. § 1418. Compounding or compromising with debtor If a debtor of the decedent is unable to pay all his debts, the executor or administrator, with the approval of the court, may compound with him and give him a discharge, upon receiving a fair and just dividend of his effects. The court may also authorize a compromise when it appears to be just, and for the best interest of the estate. § 1419. Recovery of fraudulently conveyed property If a decedent, in his lifetime, conveyed real or personal property, or rights or interests therein, with intent to defraud his creditors, or to avoid an obligation due another, or made a conveyance that by law is void as against creditors, or made a gift of property in view of death, and there is a deficiency of assets in the hands of the executor or administrator, the latter, on application of a creditor, shall commence and prosecute to final judgment an action for the recovery of the property for the benefit of the creditors. § 1420. Same; costs; sale of property recovered; proceeds A creditor making application pursuant to section 1419 of this title shall pay such part of the costs and expenses of the action, or give such security to the executor or administrator therefor, as the court directs. Property so recovered shall be sold for the payment of debts, in the same manner as if the decedent had died seised or possessed thereof, upon obtaining an order there for from the court; and the proceeds shall be appropriated in payment of the debts of the decedent in the same manner as other property in the hands of the executor or administrator. The remainder of the proceeds, after the debts of the decedent have been paid, shall be paid to the person from whom the property was recovered. § 1421. Custody and management of property; recovery of pos. session; joinder in possessory or title actions The executor or administrator is entitled to the possession of all real and personal property of the decedent, and to receive the rents and profits of the real property until the estate is settled or until delivered over by the order of the court to the heirs or devisees; and shall keep in good tenantable repair all houses, buildings, and fixtures thereon which are under his control. After the time to present claims has expired, he is not entitled to recover the possession of any property of the estate from an heir who has succeeded to the property in his possession, or from a devisee or legatee to whom the property has been devised or bequeathed, or from an assignee thereof, unless he proves that the recovery is necessary for the payment of debts or legacies, or of expenses of administration already accrued, or for distribution to another heir, devisee or legatee entitled thereto. The heirs or devisees may themselves, or jointly with the executor or administrator, maintain an action for the possession of the real property, or for the purpose of quieting title thereto, against anyone except the executor or administrator; but they are not required to do so. § 1422. Delivery of real property to heirs or devisees When the time to present claims has expired, the executor or administrator shall deliver possession of the real property to the heirs or devisees, unless the court determines that the receipt of the income from the property for a longer period is necessary, or that the sale of the property probably will be necessary, for the payment of the debts of the decedent. § 1423. Purchase of claims against estate An administrator or executor may not purchase a claim against the estate he represents; and if he pays a claim for less than its nominal value he is only entitled to charge in his account the amount he actually paid. § 1424. Deposit of funds. The court may order an executor or administrator to deposit funds of an estate coming into his hands, in a bank or banks or other depositary, to be designated by the court, in his name with the designation of his fiduciary capacity. The court may direct him to deposit any or all the funds in an interest-bearing account. This section does not relieve an executor or administrator from any duty otherwise imposed by law. § 1425. Investment of moneys of estate pending settlement Pending the settlement of an estate, on the petition of a person interested therein, and upon good cause shown therefor, the court may order any money in the hands of the executors or administrators to be invested for the benefit of the estate in securities of the United States or in federally guaranteed savings and loan associations or in such other securities as the court approves and allows. The clerk shall set the petition for hearing by the court and cause a notice of the time and place of hearing thereof to be posted at the courthouse of the division where the proceedings are pending, at least 10 days before the day of hearing, giving the name of the estate, the name of the petitioner and the nature of the application, referring to the petition for further particulars. At least 10 days before the time set for the hearing of the petition, the petitioner shall cause notice of the time and place of hearing thereof to be mailed to the executor or administrator, when he is not the petitioner, to any coexecutor or coadministrator not petitioning, and to all persons (or to their attorneys, if they have appeared by attorney), who have requested notice or who have given notice of appearance in the estate in person or by attorney, as heir, devisee, legatee or creditor, or as otherwise interested, addressed to them at their respective post-office addresses given in their requests for special notice, if any, otherwise at their respective offices or places of residence, if known, and, if not, at the division where the proceedings are pending, or to be personally served upon them. Proof of the giving of notice shall be made at the hearing; and if it appears to the satisfaction of the court that the notice has been regularly given, the court shall so find in its order, and the order, when it becomes final, is conclusive upon all persons. Sec. CHAPTER 63-INVENTORY, APPRAISEMENT, AND SUBCHAPTER I—INVENTORY, APPRAISEMENT, AND POSSESSION OF ESTATE 1461. Time for returning; contents. 1462. Testator's claims against executor; inclusion in inventory. 1463. Same; bequest to executor; nature and effect. 1464. Oath to inventory. 1465. Appointment of appraisers; incompetency of certain persons. 1466. Oath of appraisers; appraisement procedure. 1467. Compensation of appraisers; verified account. 1468. Failure to return inventory. 1469. After-discovered property. SUBCHAPTER II-EMBEZZLEMENT AND SURRENDER OF PROPERTY 1491. Double liability for embezzling property. 1492. Citation and examination of suspected embezzler, etc., expenses. 1493. Enforcement of examination of suspected embezzler, etc.; compelling disclosure; interrogatories; witnesses. 1494. Requiring persons intrusted with estate to account. Subchapter I-Inventory, Appraisement, and Possession of Estate § 1461. Time for returning; contents (a) Within 30 days after his appointment, or within such further period as the court, for reasonable cause, allows, the executor or administrator shall make and return to the court a true inventory, and, if the court directs, an appraisement of all the estate of the decedent which has come to his possession or knowledge. (b) The inventory shall: (1) contain a statement of all the estate, real and personal, of the decedent; (2) contain a statement of all debts, bonds, mortgages, deeds of trust, notes, and other securities for the payment of money belonging to the decedent, specifying the name of the debtor in each debt or security, the date, the sum originally payable, the indorsements thereon, if any, with their dates, and the sum which, in the judgment of the appraisers, may be collected on each debt or security; (3) contain a statement of the interest of the decedent in any partnership of which he was a member, to be appraised as a single item; (4) contain an account of all moneys belonging to the decedent which have come to the hands of the executor or administrator, and, if none, a statement of that fact; and (5) show, as far as it can be ascertained by the executor or administrator, what portion of the property is community property, and what portion is the separate property of the decedent. § 1462. Testator's claims against executor; inclusion in inventory The naming of a person as executor does not thereby discharge him from any just claim which the testator has against him. The claim shall be included in the inventory, and the executor is liable for it, as for so much money in his hands, when the debt or demand becomes due. § 1463. Same; bequest to executor; nature and effect The discharge or bequest in a will of a debt or demand of the testator against the executor named, or any other person, is not valid against the creditors of the decedent, but is a specific bequest of the debt or demand. It shall be included in the inventory, and, if necessary, applied in the payment of the debts. If not necessary for that purpose, it shall be paid in the same manner and proportion as other specific legacies. § 1464. Oath to inventory The executor or administrator shall take and subscribe an oath, before an officer authorized to administer oaths, that the inventory contains a true statement of all the estate of the decedent which has come to his possession or knowledge, and particularly of all money belonging to the decedent, and of all just claims of the decedent against the affiant. The oath shall be indorsed upon or annexed to the inventory. § 1465. Appointment of appraisers; incompetency of certain persons (a) To make an appraisement, the court shall appoint three disinterested persons, any two of whom may act. (b) A clerk or deputy of the court, or a person related by consanguinity or affinity to, or connected by marriage with, or being a partner or employee of, the judge of the court, may not be appointed, and is not competent, to act as appraiser in an estate, or matter or proceed. ing pending before the judge or in his court. § 1466. Oath of appraisers; appraisement procedure Before proceeding to the execution of their duty, the appraisers shall take and subscribe an oath, to be attached to the inventory, that they will truly, honestly, and impartially appraise the property exhibited to them, according to the best of their knowledge and ability. They shall appraise the property by setting down each item sepa rately, with the value thereof in dollars and cents in figures, opposite the respective items. § 1467. Compensation of appraisers; verified account An appraiser shall receive from each estate he appraises, as compensation for his services, such sum as the court fixes. He shall file, with the inventory, a verified account of his services and disburse ments. § 1468. Failure to return inventory If an executor or administrator neglects or refuses to return the inventory within the time prescribed by section 1461 of this title, or by the court under authority of that section, the court may, upon notice, revoke his letters, and he is liable on his bond for any injury to the estate or a person interested therein, arising from his neglect or refusal. § 1469. After-discovered property When property not mentioned in an inventory that is made and returned, comes to the possession or knowledge of an executor or administrator, he shall cause it to be appraised in the manner prescribed in this chapter, and an inventory thereof to be returned within two months after the discovery. The making of the inventory may be enforced, after notice, by attachment or removal from office. Subchapter II-Embezzlement and Surrender of Property § 1491. Double liability for embezzling property If a person embezzles, conceals, smuggles, or fraudulently disposes of any property of a decedent, he is chargeable therewith, and liable to an action by the executor or administrator of the estate for double the value of the property so embezzled, concealed, smuggled, or fraudulently disposed of, to be recovered for the benefit of the estate. § 1492. Citation and examination of suspected embezzler, etc., expenses Upon complaint made under cath by an executor, administrator, or other person interested in the estate of a decedent, that a person is suspected of having concealed, embezzled, smuggled, or fraudulently disposed of any property of the decedent, or has in his possession or knowledge any deed, conveyance, bond, contract, or other writing, which contains evidence of or tends to disclose the right, title, interest, or claim of the decedent to real or personal estate, or a claim or demand, or a lost will, the court may cite the suspected person to appear before the court, and may examine him on oath upon the matter of the complaint. If he appears and is found innocent, his necessary expenses shall be allowed him out of the estate. § 1493. Enforcement of examination of suspected embezzler, etc.; compelling disclosure; interrogatories; wit nesses If a person cited pursuant to section 1492 of this title refuses to appear and submit to an examination, or to answer such interrogatories as may be put to him, concerning the matters of the complaint, he may, by warrant from the court, be committed to jail and confined therein until he submits to the order of the court or is discharged according to law. If, upon the examination, it appears that he has concealed, embezzled, smuggled, or fraudulently disposed of any property of the decedent, or that he has in his possession or knowledge any of the papers or documents referred to in section 1492 of this title, the court may make an order requiring him to disclose his knowledge thereof |