EXECUTOR, Trusts. The word executor, taken in the broadest sense, has several acceptances. 1. The executor dativus, who shall be designated as the administrator of an intestate aboriginal. 2. The executor or a person appointed by the last will of a testator, and that is what is usually meant by this term. 2. In civil law, the person appointed to act as executor in respect of goods is called haeres testamentarius; The term executor, it is said, is a barbarity unknown to this law. 3 ATK. 304. 3. An executor, as currently accepted, is the person to whom the execution of a will on the personal succession is entrusted by the appointment of the testator and who has accepted it. 2 Bl.
Komm. 503; 2 pp. Wms. 548; Toller, 30; 1 will. on Ex. 112 Swinb. T. 4, p. 2, pl. 2.
4. In general, anyone capable of drafting wills can be executors, and a few others next to them, as infants and married women. 2 corn leaves. 503. 5. The executor is absolute or qualified; His appointment is absolute if he is formed safely, immediately and without limitation of the effects of the testator or time limit. It may be restricted by restricting the time, place or purpose of the Agency; or the creation of the office may be conditional. He can be qualified. 1st edition. Time limits may limit the period of departure of the appointee or when he or she is no longer the executor; as if a man was appointed executor at the marriage of the testator`s daughter.
Swinb. p. 4, p. 17, p. 4. 2. The appointment may be limited to one place; than to be appointed executor of all the testator`s property in the State of Pennsylvania. 3. The power of the executor may be limited as to the purpose for which it is to be exercised; than when appointed by a testator. To the executor of his will and movable property in possession; B, by him in action. One can only be appointed executor for a case if it is a specific claim or a debt owed by surety and others. Ex.
29; 3 Phillim. 424. However, although a testator may thus appoint separate executors of different parts of his property and share their authority, they are all executors and act as a single executor and may be prosecuted in a will. Cro. Car. 293. 4. The appointment may be conditional, and the condition may be either a precedent or later. Godolph. Orph. Leg. pt.
2, c. 2, p. 1; Off. Ex. 23.6. The executor derives his or her entire interest in the testator`s estate of the will and is entitled to it from the date of the testator`s death. 1 will. Ex. 159; Com. Dig. Administration, B 10; 5 B.
& A. 745; 2 W. Bl. Rep. 692. He acquires an absolute legal right to personality by appointment, but nothing in the testator`s country, except by invention. He may not touch anything that was not personal at the time of the testator`s death, except on express instructions. 9 Serg. and Rawle, 431; Gord. Act Dec.
93. Nevertheless, his interest in the property of the deceased is not the absolute, appropriate and ordinary interest that everyone has in his own property. He is a mere trustee who uses the property for legally sanctioned purposes. 4 R. T. 645; 9 KB. 88; 2 Inst. 236; From. Ex.
192. He represents the testator and can therefore sue and recover all the debts he had at the time of his death and be sued for all the debts he owes. 1 will. For example 508 ff. · However, at common law, such debts that are not due in writing cannot be collected against the executors of a deceased debtor. The remedy was only in conscience or by a quo less in the public treasury. Subsequently, legal action was taken against the case in the banco regis. Crom t. Jurisdic. 66, b; Ploughed.
Com. 183: 11 H. VII. 26. 7. The main functions of the executor are: 1. to recover the testator`s property within a reasonable time after the testator`s death, provided that he can do so peacefully; If there is resistance, he must go to the law for redress. 8.-2. bury the deceased in a manner proportionate to the estate he or she leaves behind; And if there is only reason to believe that he has died insolvent, he has no right to spend more on funeral expenses than is absolutely necessary. 2 Will.
For example, 636; 1 salk. 296; 11 Serg. & Rawle, 204 14 Serg. & Rawle, 64.9.-3. The executor must prove the will to the competent office. 10.-4. He or she should make an inventory (see below) of the estate`s assets, which should be deposited at the office. 11.-5. He must establish the debts and credits of the estate and endeavour to collect all debts as soon as possible, in accordance with the interests of the estate. 12.-6. He should announce debts and loans: see forms of advertising, 1 chit.
Pr. 521. 13.-7. He had to reduce all assets that were not expressly bequeathed in money with all due diligence. 14.-8. Keep the estate money safe, but not mixed with his, or he may charge interest on it. 15.-9. Be prepared to report at any time and submit an account within one year. 16.-10.
Pay debts and legacies in the order prescribed by law. 17. Co-executors, as numerous as they are, are legally considered individuals and; Therefore, the actions of one of them are generally considered to be acts of all in asset management. Ferry. From. Executor, D; Touch. 484; for they all have a joint and several power of attorney over all property Off. Ex. 213; 1 roll it. 924; Com.
Dig. Administration, B 12. After the death of one or more joint executors, their rights and powers are transferred to the survivors. 18. If there are several executors and all die, the power is transferred jointly to the executor of the last surviving executor, so that he is the executor of the first testator`s will; And the law is the same if only one executor dies and leaves an executor, the rights are with the latter.