The court or chancellor in vacation, on petition for that purpose, may authorize the executor or administrator to sell or compromise any claim belonging to the estate which cannot be readily collected; but an order authorizing a sale of any claim shall not be made until after six months from the grant of the letters. The court or chancellor shall specify the terms, conditions, and notice of such sale. In compromising any claim, the executor or administrator may receive property, real or personal, in his name as such, and he shall account for the same as assets of the estate. The executor or administrator shall report, in writing, all sales and compromises to the next term of the court.
Miss. Code Ann. § 91-7-229
Claims may be sold or compromised
Applied in 1 court decision — leading case 525 So. 2d 1289 - Mississippi State Bar Ass'n v. Moyo (1988)
Most recently applied in 525 So. 2d 1289 - Mississippi State Bar Ass'n v. Moyo (June 1988)
Codes, Hutchinson’s 1848, ch. 49, art. 20 (6); 1857, ch. 60, art. 95; 1871, § 1155; 1880, § 2065; 1892, § 1890; 1906, § 2065; Hemingway’s 1917, § 1730; 1930, § 1710; 1942, § 607…
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.