A lease for the life of the lessor is a chattel, and on the death of the lessee it goes to his administrator. Cunningham v. Baxley, 96 Ind. 367.

An administrator should inventory a claim due from himself to the estate, but a failure to do so will not render his sureties liable unless actual damage resulted from such failure. State, ex rel., v. Gregory, 119 Ind. 503.

2416. (2261.) Appraisement.-37. The appraisers shall, in the presence of each other and of such executor or administrator, appraise each article as specified in the inventory, at its true value, and set down opposite to each article, respectively, the value in dollars and cents, in figures.

2417. (2262.) Omitted articles.-38. Where a man having a family shall die, leaving a widow or minor child, the following articles shall be omitted in making the inventory, and shall not be considered as assets, viz.:

First. All the articles of apparel and ornament of the widow and of the children of the deceased.

Second. The wearing apparel of the deceased; which shall be distributed at the discretion of the widow, or, if there be no widow, in the discretion of the executor or administrator, among the nearest relatives, unless otherwise legally directed to be disposed of by the deceased.

Third. Bibles and school-books used in the family of such deceased. Fourth. All the provisions on hand, provided for consumption by the family.

2418. (2263.) Real estate, when included.-39. When real estate is devised to executors, or directed by the will to be sold for the payment of debts or legacies, the same shall be included in the inventory, and appraised at its true value by the appraisers.

2419. (2264.) Mortgage, when assets.-40. When any mortgagee of real estate, or any assignee of such mortgagee, shall die without having foreclosed the equity of redemption or having received payment of the amount secured by such mortgage, the mortgaged premises, and the debt secured thereby, shall be considered as personal assets in the hands of his executor or administrator, and shall be administered and accounted for as such; and such executor or adminis trator shall have the same right to possession of the mortgaged premises, and to bring any suit respecting the same, or for the recovery of the debt secured thereby, and to execute or carry into effect any act, or power contained in such mortgage, or in the provisions of any law, as such mortgagee or assignee could if he were alive.

2420. (2265.) Mortgage, when released.-41. When, in any such case, the mortgage is redeemed, or the debt secured thereby is paid, the money shall be received by the executor or administrator, and he shall thereupon release and discharge the mortgage.

If an executor or administrator enters satisfaction of the mortgage without receiving the amount due, interested persons may have the satisfaction set aside. Talbott v. Dennis, 1 Ind. 471.

2421. (2266.) Mortgaged premises, when held in trust.—42. If

the mortgaged premises shall have been taken possession of, under the mortgage, by the executor, or administrator, or by the deceased, the executor or administrator shall hold the same in trust for the creditors, heirs, or other persons entitled to the money, upon the sale or redemption of the premises.

2422. (2267.) One executor, etc., may inventory.-43. Any executor or administrator, on the failure of the others named in the same letters, may make and return such inventory and appraisement; and those so failing shall not afterward interfere with the administration of the estate of the deceased, without the consent of the acting executor or administrator or leave of the court.

2423. (2268.) Specific bequest, when delivered.-44. Property specifically bequeathed may be delivered over to the legatee entitled thereto, he securing the re-delivery thereof to the executor or administrator with the will annexed, on demand, if needed for the payment of debts against the estate or for equalizing the legacies under such will, and that he will indemnify him against any damage on account of the delivery of such property to such legatee.

Legatees must obtain the consent of the executor to take possession of the things bequeathed. Crist v. Crist, 1 Ind. 570.

2424. (2269.) Widow's five hundred dollars.-45. The widow of the decedent, whether he die testate or intestate, may, at any time before the sale, select and take articles therein named at the appraisement, not exceeding, in the aggregate, five hundred dollars. Each article taken by her shall be so noted on the inventory opposite the article taken, or a separate inventory may be made of the articles so taken, and returned with the general inventory. She shall execute a receipt therefor to the executor or administrator, which shall be returned and filed with the inventory. If the widow fail or refuse to select and take all or any part of the articles in this section provided, she shall be entitled to the amount of the deficiency, in cash, out of the first moneys received by the executor or administrator in excess of the amount necessary to pay the expenses of administration and of the last sickness and funeral of the deceased: Provided, That if the estate be clearly solvent, she shall be entitled to such payment out of the first moneys received by such executor or administrator. If the personal estate of the decedent be insufficient to pay the amount that may be due the widow, in cash, as aforesaid, the deficit shall constitute a lien upon the real estate of the decedent liable to sale for the payment of debts; which lien may be enforced, upon the petition of the executor or administrator, in like manner as lands of the decedent are sold for the payment of debts, and shall be superior to the lien of judgments upon said real estate rendered against the decedent.

Under the act of 1869, if the widow did not receive the amount of personal property given her by statute, she was entitled to receive the residue out of the first moneys received by the executor or administrator. Lieb v. Wilson, 51 Ind. 550.

Under the statute of 1871, a widow was not entitled to receive her $500 statutory allowance out of the lands of the decedent in preference to a judgment lien thereon. Mead v. McFadden, 68 Ind. 340.

The levy of an execution upon the personal property of the decedent during his life will not prevent the widow from claiming the same as a portion of her statutory allow

A widow is entitled to the personal estate given her absolutely by statute, but she may be deprived by will of any further share in such estate. Shaffer v. Richardson, 27 Ind. 122.

The acceptance by a widow of the provisions made for her by will does not usually prevent her from claiming the amount of personalty given her by statute. Loring ". Craft, 16 Ind. 110; Nelson v. Wilson, 61 Ind. 255; Whitemen v. Swem, 71 Ind. 530; Smith v. Smith, 76 Ind. 236.

If the provision made by will for a widow is inconsistent with her claiming the personalty given by statute, an acceptance under the will is a waiver of her claim to such personalty. Langley v. Mayhew, 107 Ind. 198; Hurley v. McIver, 119 Ind. 53; Shafer v. Shafer, 129 Ind. 394.

In order to prevent a widow from taking under a will, and also claiming the personalty given her by statute, it must appear that the assertion by her of both claims will defeat the intention of the testator. Shipman v. Keys, 127 Ind. 353.

The widow may claim personal property as a part of her statutory allowance at any time before the same is sold. Denny v. Denny, 113 Ind. 22; Hamilton v. Matlock, 22 Ind. 47.

Title to property taken under this section does not vest in the widow until the selection is made and the property appraised. Harrell v. Hammond, 25 Ind. 104.

If a widow dies before making her claim to personal property such claim goes to her personal representatives. Bratney v. Curry, 33 Ind. 399.

If a wife is living in adultery at the death of the husband, she can not claim the personal estate given by this section. Owen v. Owen, 57 Ind. 291.

A widow may be prevented from asserting her claim under this section by an antenuptial contract. Houghton v. Houghton, 14 Ind. 505; Rainbolt v. East, 56 Ind. 538.

2425. (2270.) Return of inventory.-46. Such inventory and appraisement, and the inventory of the articles taken by the widow, shall, when completed, be carefully added up, and the amounts set down in the footings; and said inventories and appraisements shall be subscribed by the appraisers and such executor or administrator, and returned, by the latter, to the clerk of the proper circuit court, within thirty days thereafter. The executor or administrator shall thereupon take and subscribe an oath before said clerk, to be indorsed upon or attached to such inventories, that the same is a true and complete statement of all the personal estate of the decedent which has come to his knowledge, and of the property, and appraisement thereof, taken by the widow.

2426. (2271.) Examination and proceedings.-47. The clerk of the circuit court, in vacation, or the judge thereof, to whom such inventory and appraisement are returned, shall immediately examine the same, and indorse an approval thereon, if found correct and in proper form, and the clerk shall file and record the same in the record kept for that purpose; if the same be found incorrect or informal, the defect shall be noted thereon, and the inventory and appraisement returned to the executor or administrator for correction; and the same, when corrected, shall be returned to the clerk, and filed and recorded as aforesaid.

(As amended, Acts 1883, p. 152. Ell. Supp., section 383. In force March 7, 1883.)

2427. (2272.) Separate inventories.-48. When such estate is situated in places distant from each other, the executor or administrator may make, return, and file separate inventories and appraisements for each of said places, and shall have power to select different appraisers, in each case, from the neighborhood in which such estate, or the greater part thereof, may be situate, to appraise the estate specified in any such inventory.

2428. (2273.) Additional inventories.-49. Such executor or administrator shall make further inventories of the personal estate of such decedent, as the same may come to his knowledge, under the same regulations as provided in case of the first inventory.

In a suit for failure to make additional inventories, it must be alleged that knowledge of the additional assets came to the administrator or executor. State v. Scott, 12 Ind. 529.

2429. (2274.) Executor, etc., must keep copy.-50. Every executor and administrator shall make out, and retain in his possession, a duplicate of each inventory and appraisement of the personal estate made out by him and recorded as aforesaid.

SEC.

ARTICLE 6.-SALE OF PERSONAL PROPERTY.

2430. Sale by executor, etc. 2431. Notice of sale.

2432. Credits given-Notes.

2433. Postponing sale-New bond.

2434. Corporation stock.

2435. Annual crops.
2436. Written contracts.

2437. Assignment of contract.

SEC.

2438. Effect of assignment.

2439. Sale of contract for land.
2440. Sale and report.

2441. Bond of purchaser.

2442. Assignment of contract.
2443. Sale of part.

2444. Private sale of personalty.
2445. Clerk of public sale.

[1881 S., p. 423. In force September 19, 1881.]

2430. (2275.) Sale by executor, etc.-51. Such executor or administrator, immediately after filing any such inventory and appraisement, shall proceed to sell, at public auction, the personal property of the deceased not taken by the widow.

The personal estate of a decedent can only be sold in the manner provided by statute. Ramey v. McCain, 51 Ind. 496; Weyer v. Bank, 57 Ind. 198; Citizens, etc., Co. v. Robbins, 128 Ind. 449.

Shares of stock in an incorporated company must be sold as other personal property. Weyer v. Bank, 57 Ind. 198; Citizens, etc., Co. v. Robbins, 128 Ind. 449.

If the purchaser of property fails to complete the purchase, he will be responsible for the difference between his bid and the amount the property sold for at a subsequent sale. Meek v. Spencer, 8 Ind. 118.

2431. (2276.) Notice of sale.-52. Three weeks' previous notice. of the time and place of such sale shall be given by such executor or administrator, in some public newspaper printed and published in the county in which such sale is to be made, if any such newspaper be printed therein, and by setting up written or printed notices thereof

at three public places in the township in which such property is to be sold.

2432. (2277.) Credits given-Notes.-53. A credit of not less than three nor more than twelve months shall be given in all such sales of personal property, by the executor or administrator, where the amount purchased exceeds five dollars; and notes waiving valuation and appraisement laws, and bearing six per cent. interest after maturity, with sufficient sureties, shall be taken in all sales of personal estate of the deceased.

2433. (2278.) Postponing sale-New bond.-54. Whenever it shall be advantageous to the estate, the executor or administrator may postpone the sale of all or any portion of the personal property until the first term of the circuit court succeeding the filing of the inventory. For the same cause the court may, at any time after the filing of the inventory, on petition of the executor or administrator and satisfactory proof, postpone the sale of all or any portion of the personal property, from time to time, for any period deemed necessary. If the sale of said property be required for the payment of debts, it shall not be postponed longer than six months after filing the inventory. No notice of the filing of such petition shall be required, nor shall the creditors or the heirs be necessary parties, but any one of either, or any legatee, may appear and contest the same. The court may also require additional security from the executor or administrator, when necessary for the safety of the estate. When all the liabilities of the estate are paid and satisfied, it may, on petition of all the heirs and other persons entitled to distribution, be finally settled without the sale of such property by the executor or administrator.

2434. (2279.) Corporation stock.-55. Whenever any portion of the estate of any person dying intestate shall consist of stock in a corporation or corporations, and when any person shall die testate owning such stock but making no disposition thereof in his will, the same shall not be sold except under the direction of the proper court; and in the distribution of the estate of the decedent among his heirs or legatees, such stock shall be distributed and transferred to them under the direction of the court.

2435. (2280.) Annual crops.-56. The executor or administrator may defer the sale of the annual crops raised by labor, and which are not severed from the land at the time of such sale, beyond the time herein prescribed for the sale of the personal estate; and the same may be sold before or after they are severed from the land, in the mode prescribed for the sale of other personal property.

2436. (2281.) Written contracts.-57. Written contracts, except for the purchase of lands in the lifetime of the deceased, executed or transferred to him, obligating the person executing the performance of any thing other than the payment of money, may be sold as personal

estate of the deceased.

A lease for the life of the lessor is a chattel and on the death of the lessee it goes to his administrator. Cunningham v. Baxley, 96 Ind. 367.