Section 29-1-17-1 - Order of court; perishable property; depreciable property; storage or preservation; income and profits(a) At any time during the administration, upon application of the personal representative or any distributee, with or without notice as the court may direct, the court may order the personal representative to deliver to any distributee, who consents to it, possession of any specific real or tangible personal property to which he is entitled under the terms of the will or by intestacy, provided that other distributees and claimants are not prejudiced thereby. The court may at any time prior to the decree of final distribution order him to return such property to the personal representative if it is for the best interest of the estate. The court may require the distributee to give security for such return.(b) At any time during the administration, when it is apparent that the estate is solvent, the court in its discretion may order distribution to the persons entitled thereto of such items of property of the estate as:(1) are perishable in nature,(2) would materially depreciate in value if distribution were delayed, or(3) would necessitate the expenditure of estate funds for storage or preservation if not distributed. Such distribution may be with or without security or notice to the interested parties as the court may direct.
(c) After the expiration of the time limited for the filing of claims and before final settlement of the accounts of the personal representative, a partial distribution may be decreed, with notice to interested persons as the court may direct. Such distribution shall be as conclusive as a decree of final distribution, except that the court may, as provided in section 2(d) of this chapter, modify such decree of partial distribution to the extent necessary to protect the other distributees and claimants, and assure them that they will receive the amount due them on final distribution. Before a partial distribution is so decreed, the court may require that security be given for the return of the property so distributed to the extent necessary to satisfy any distributees and claimants who may be prejudiced as aforesaid by the partial distribution.(d) The person to whom possession or distribution has been made under the provisions of this section, shall be entitled to the income and profits from such property.Amended by P.L. 163-2018,SEC. 11, eff. 7/1/2018.(Formerly: Acts 1953, c.112, s.1701; Acts 1955, c.258, s.9.) As amended by Acts1982 , P.L. 171, SEC.48.