Section 12.15 Possession of Assets
| Library | Estate Administration 2014 Supp |
3. (§12.15) Possession of Assets
An independent personal representative is directed by statute, unless modified by the will, to take possession and control of the decedent’s property. Section 473.803, RSMo 2000. But in a break with tradition, the independent personal representative is authorized to leave real and tangible personal property with the person presumptively entitled to it. Id. This authority does not exonerate the independent personal representative from loss to the estate resulting from surrendering possession. Id.
In a supervised estate, a personal...
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