Title XXXI — TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

473.157. Bond of personal representative — conditions of bond. — 1. Except as provided in section 473.160, every personal representative, before entering upon the duties of his office, shall execute and file a bond, approved by the judge or the clerk, procured at the expense of t…

473.160. Bond not required, when. — 1. When, by the terms of the will, the testator expresses a wish that no bond be required of the personal representative, no bond shall be required unless the court, in its discretion, finds it proper to require it; but the court, in its discre…

473.163. Agreements with surety as to deposit of assets. — It is lawful for the executor or administrator to agree with his surety for the deposit of any or all moneys and other assets of the estate with a bank, safe deposit or trust company, authorized by law to do business as s…

473.167. Execution of bond. — Each bond shall be signed by the executor or administrator and his surety and shall be acknowledged before the judge or clerk or before some officer authorized to take acknowledgments of deeds and a certificate of the acknowledgment shall be endorsed…

473.170. Obligees of bond — liability of surety. — The bond of the executor or administrator shall run to the state of Missouri to the use of all persons interested in the estate and shall be for the security and benefit of such persons. The sureties shall be jointly and severall…

473.173. Bond of joint executors or administrators. — When two or more persons are appointed executors or administrators of the same estate and are required to give a bond, the court may require either a separate bond from each or one bond from all of them, and none shall act or …

473.177. Affidavit of personal sureties. — Each personal surety shall execute and file with the court an affidavit that he owns property subject to execution, of a value over and above his liabilities, equal to the amount of the bond, and shall include in such affidavit the total…

473.180. Persons not acceptable as sureties. — No judge of probate, sheriff, marshal, clerk of a court, or deputy of either, and no attorney at law, shall be taken as surety for any executor or administrator. ­­-------- (RSMo 1939 § 21, A.L. 1955 p. 385 § 81) Prior revisions: 192…

473.183. Approval of bond. — The judge or clerk shall examine and approve or reject the bond of each executor or administrator and the approval or rejection thereof shall be endorsed thereon and entered on the records of the court. In the case of personal sureties, the judge or c…

473.187. Bond valid though rejected. — Any bond taken by the clerk is valid until a new bond is given, notwithstanding its subsequent rejection by the court. ­­-------- (RSMo 1939 § 26, A.L. 1955 p. 385 § 83) Prior revisions: 1929 § 26; 1919 § 25; 1909 § 33

[Repealed or reserved.]

473.193. Inquiry into condition of sureties — order for new bond. — If the judge has reasonable grounds to believe that a surety on the bond of any executor or administrator has died, removed from the state or is or likely to become insolvent or that the principal on the bond is …

473.197. Court may require, increase or decrease bond, when. — The court may require bond, or increase or decrease the amount of the bond of the personal representative when good cause therefor appears. The clerk shall inquire into the adequacy of the bond upon the filing of an i…

473.200. Letters revoked on failure to give bond. — If an executor or administrator fails to give a bond as required by the court, within the time fixed by the court, his letters shall be revoked. ­­-------- (RSMo 1939 §§ 31, 32, A.L. 1955 p. 385 § 87) Prior revisions: 1929 §§ 31…

473.203. Effect of new bond. — Any bond given to replace a former bond, when given and approved, discharges the former sureties from any liabilities arising from any misconduct of the principal after the filing of same, and the former sureties are only liable for misconduct which…

473.207. Execution of bond deemed appearance by surety — procedure on breach of obligation of bond. — 1. The execution of the bond of a personal representative is deemed an appearance by the surety in the proceeding for the administration of the estate including all hearings with…

473.210. Successor may sue on bond. — The succeeding administrator, or remaining executor or administrator, may proceed in any court having jurisdiction in civil actions against an executor or administrator and his sureties, or either of them or against any other person possessed…

473.213. Limitations on suits. — Proceedings upon the bond of a personal representative shall not be brought subsequent to one year after the personal representative's discharge. ­­-------- (L. 1955 p. 385 § 91, A.L. 1996 S.B. 494) Effective 5-23-96 (1963) In suit for accounting …

473.217. Action on bond generally. — The bond of an executor or administrator may be sued on at the instance of any party injured, in the name of the state, to the use of such party, for waste or mismanagement of the estate, or other breach of the conditions of the bond; and dama…

473.220. Inventory and appraisement. — Within thirty days after letters are granted on the estate of a deceased member of any partnership, the surviving partner or partners shall file a verified inventory of the partnership in the probate division in which letters are issued on t…

473.223. Settlement. — The surviving partner may continue in possession of the partnership estate, pay its debts, and settle its business, shall account to the executor or administrator of the estate of the decedent, and shall pay over such balances as from time to time are payab…

473.227. Security. — If the surviving partner commits waste or if it appears to the court that it is for the best interest of the estate of the decedent, the probate division may order the surviving partner to give security for the faithful settlement of the partnership affairs a…

473.230. Citation of partner. — If the surviving partner fails or refuses to file the inventory, list of liabilities, or appraisal or it appears proper to order the surviving partner to account to the probate division or to file a bond, the court shall order a citation to issue r…

473.233. Inventory and appraisement — classification of property. — 1. Within thirty days after letters are granted, unless a longer time is granted by the court, the personal representative shall make and return an inventory and appraisement, in one written instrument, of all of…

473.237. Affidavit to inventory. — The administrator or executor and appraisers shall annex to the inventory and appraisement an affidavit stating that it is a full inventory and description of all the property of the decedent which has come into the possession or knowledge of th…

473.240. Additional inventory. — If, after making the first inventory and appraisement, any other real or personal estate of the deceased comes to the possession or knowledge of the executor or administrator, he shall file a similar additional inventory and appraisement thereof. …

473.243. Compensation of appraisers. — The court shall make a reasonable allowance to each appraiser for his compensation, taking into consideration the amount and character of the services rendered by each, and his reasonable travel and other expenses. ­­-------- (L. 1955 p. 385…

473.247. Debt of executor not discharged. — If any person appoints his debtor executor of his will, the appointment does not discharge the debt, but the debt constitutes an asset in his hands. ­­-------- (RSMo 1939 § 101, A.L. 1955 p. 385 § 101) Prior revisions: 1929 § 101; 1919 …

473.250. Debt of administrator, assets. — All debts due by an administrator to his testator or intestate are considered assets in his hands. ­­-------- (RSMo 1939 § 100, A.L. 1955 p. 385 § 102) Prior revisions: 1929 § 100; 1919 § 99; 1909 § 107

473.253. Inventory as evidence. — Inventories and appraisements may be given in evidence, but are not conclusive for or against any executor or administrator, but other evidence may be introduced to vary the effect thereof. ­­-------- (RSMo 1939 § 74, A.L. 1955 p. 385 § 103) Prio…

473.260. Devolution of estate at death. — When a person dies, his real and personal property, except exempt property, passes to the persons to whom it is devised by his last will, or, in the absence of such disposition, to the persons who succeed to his estate as his heirs; but i…

473.263. Possession of assets. — 1. Every executor or administrator has a right to and shall take possession of all the personal property of the decedent except exempt property of the surviving spouse and unmarried minor children, and administer it in accordance with this law. 2.…

473.267. Assets for payment of claims. — The real and personal property liable for the payment of claims includes all property transferred by the decedent with intent to defraud his creditors or any of them, or transferred by any other means which is in law void as against his cr…

473.270. Collection of debts, prosecution and defense of suits. — Executors and administrators shall collect all money and debts of every kind due to the decedent, and give receipts and discharges therefor, and shall commence and prosecute all actions which may be maintained and …

473.273. Actions instituted by or against decedent, duties. — Executors and administrators shall prosecute and defend all actions commenced by or against the decedent during his lifetime which are maintainable by or against the executor or administrator. ­­-------- (RSMo 1939 § 9…

473.277. Compromise of debts due estate. — When it appears for the best interest of the estate, the executor or administrator, on order of the court, may effect a fair and reasonable compromise with any debtor or other obligor, or extend, renew or in any manner modify the terms o…

473.280. Purchase at foreclosure of mortgage held by estate. — Whenever any note, bond, account, or other indebtedness belonging to the estate of any decedent is secured by mortgage, deed of trust, vendor's lien or other lien on any property, and the same is due and unpaid, the a…

473.283. Title to real estate, how taken on such purchase — how administered. — 1. Where real estate is acquired under either section 473.277 or 473.280, the conveyance thereof shall be made to the executor or administrator who holds it in trust for the same persons, whether cred…

473.287. Encumbered property to be redeemed, when. — 1. If any person dies leaving real or personal property encumbered by mortgage, deed of trust, pledge, or other lien, or owning any equity of redemption, the court, in accordance with the provisions of this subsection, may orde…

473.290. Payment of debt of decedent secured by property of another — procedure. — When any indebtedness of a decedent is secured by mortgage, pledge or other lien on property which is owned by another or which, on the death of the decedent, becomes the exclusive property of anot…

473.293. Disposition of valueless or encumbered property. — When any personal or real property is valueless, or is so encumbered, or is in such condition that it is of no benefit to the estate, the court may by order authorize the personal representative to make such disposition …

473.297. Expenditures for preservation of property. — When any property of an estate is in such condition as to be in imminent danger of loss or destruction or loss in value, the executor or administrator may make such expenditures as are reasonably and prudently required to avoi…

473.300. Continuation of business of decedent. — Upon a showing of advantage to the estate, the court may authorize the executor or administrator to continue any business of the decedent for the benefit of the estate; but if the decedent died testate and his estate is solvent, th…

473.303. Specific execution of contract of decedent — petition. — 1. If a decedent entered into a contract, specifically enforceable in equity, and did not execute the same in his lifetime, nor give power by will to execute the same, the other party, wishing specific execution of…

473.307. Notice — hearing — intervention. — Upon the filing of a petition for specific execution of the contract, the court shall fix the time and place for hearing thereon. Notice of the filing of the petition and of the time and place of hearing thereon, together with a copy of…

473.310. Specific execution of contract of decedent, court order — warranties — conveyance or lease under will. — 1. If the court, after hearing all parties, believes that specific execution of such contract ought to be made, it shall make an order that the personal representativ…

473.313. Action for specific performance — proceedings in probate division of circuit court. — A party entitled to specific execution of a contract for the conveyance of real estate shall proceed in the probate division of the circuit court under sections 473.303 and 473.307. ­­-…

473.317. Completion of contracts to purchase property — exercise of options. — 1. If any person dies having purchased real or personal property, and has not completed the payment therefor, nor provided for its payment by will, the court may order the completion of payment upon th…

473.320. Interest may be sold, when. — If the court believes that, after payment of claims, there will not be sufficient assets to pay for the real or personal property referred to in section 473.317, it may order the executor or administrator to sell all the right, title and int…

473.323. Interest relinquished to vendor, when. — If the real or personal property referred to in section 473.317 has been purchased from any person, or if an option for its purchase has been obtained from any person, the court, if considered advantageous to the estate, may order…