Powers of an Executor of Will
The powers of an executor who administrates a will are varied and range from taking legal action, actual disposal of the property and the related maintenance of the property, etc. In this article, we review the powers and legal provisions related to the duties of the Executor of a will.Take Legal Action
An executor/ administrator has the power to sue or take legal action for all causes of action that survive the deceased, and may exercise the same power for the reason of recovery of debts as the deceased has when living. The Executor's powers are inclusive of all demands as well as all rights that exist to prosecute or defend any action or in the case of special proceeding existing in favour of or against a person at the time of his decease, survive to and against his executors or administrators except in the causes of action for defamation, assault, as that is defined in the Indian Penal Code or other personal injuries not leading to the death of the party.To Dispose of Property
An executor or administrator has the power to dispose the property of the deceased under the terms of section 211, in such manner as he may consider fit. However in certain cases of the candidate being HMBSJ, i.e. Hindu, Muhammadan (Muslim), Buddhist, Sikh and Jain, this power shall be subject to some restrictions and conditions, including that without the prior permission of the Court by which the LOA (Letters of administration) were granted, an administrator may not mortgage, charge or transfer by gift, sale, exchange or else any immovable property for the time being that is vested in him under section 211, or lease of any such property for a term over five years.Management of Property
An executor or administrator may, in addition to any other powers of expenditure legally exercisable by him bear expenditure on such acts necessary for the proper care or management of any property that is belonging to an estate administered by him. He may do so with the permission of the High Court, on such religious, charitable and other objects, and on such improvements, for which reasonable and proper care for such property is considered.Duties of an Executor
The following are the duties of an Executor of will:- An executor/ administrator within six months from the grant LOA (Letters of administration). Further, within such time Court grants, the probate or LOA may appoint and exhibit in that Court an inventory which contains a full and true estimate of all the property in possession, and all the credit. Also, all the debts owed by any person to which the executor administrator entitle in that character.
- The Executor shall in like manner, within one year from the grantor within such further time as the said Court may appoint, exhibit an account of the estate, demonstrating the assets which have come to his hands and how they have been applied or disposed of.
Commission & Charges
Under the Administrator-General's Act, 1913, an executor or administrator ensures not to receive or retain any commission or agency charges at a rate higher than the rate fixed with reference to the Administrator-General.To create a Will or contact a Lawyer, visit IndiaFiling.com
Related Guides
Popular Post
Starting a small business can be a transformative venture, offering the exciting opportunity...
Tax deduction at source, shortly and popularly known as TDS, was introduced by the Income Tax...
Goods & Services Tax Certificate is issued to people who are registered under GST...
GST registration applies to all individuals and entities supplying goods or services in India. GST...
Gift tax in India is applied when the value of the received gift exceeds ₹50,000 in the...
The Union Budget 2025 has brought significant changes to India’s personal income tax structure, raising the...
The Goods and Services Tax (GST) is an indirect tax system introduced in India in 2017. It functions...
A trademark search is simply checking if another person or organization does not already own the...
Section 194H of the Income Tax Act in India mandates the deduction of Tax at Source (TDS) on commission or brokerage...
Section 80G Deduction is a facility available in the Income Tax Act which allows taxpayers to...
The Income Tax Department (ITD) has not provided specific guidance on crypto taxes for Indian investors. However...
Internal audit applicability is a critical concept for companies in India, impacting various...
In the business world, two main types of companies exist: private company and public company...
Ministry of Finance vide a Notification No 05/2022- Central Tax (Rate) dated 13.7.2022 has issued...
The Central Board of Indirect Taxes and Customs (CBIC) has recently announced an extension...
Depreciation is a key concept in finance and accounting. It helps us manage how the value of...
Form 10IA of the Income Tax Department must be filed by taxpayers claiming income tax deduction...
The Goods and Services Tax (GST) system in India has been a significant reform in the country's...
India's Gross Domestic Product (GDP) benefits significantly from the substantial...
The Finance Act, 2023 introduced the MSME 45-day payment rule under Section 43B(h) of the Income Tax Act...
The Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024, was announced by Union Finance Minister...