SETTLEMENT OF PERSONAL ESTATES
AN ACT TO AMEND CHAPTER 98 OF THE REVISED CODE OF DELAWARE, 1935, ENTITLED "SETTLEMENT OF PERSONAL ESTATES, REGISTER OF WILLS" RELATING TO ACQUITTANCES FROM GUARDIAN OR TRUSTEE; FORM THEREOF; BY PROVIDING FOR FILING THEREOF WITH REGISTER AND PRESCRIBING HOW TREATED IN ACCOUNT BEFORE REGISTER.
Be it enacted by the Senate and House of Representatives of - the State of Delaware in General Assembly met:
Section 1. That Chapter 98 of the Revised Code of Delaware 1935, be and the same is hereby amended by striking out all of 3858. Sec. 60 thereof and substituting in lieu thereof the following new section to be styled as 3858. Sec. 60:
3858. Sec. 60: Acquittances from Guardian or Trustee; Form of; Filed With Register; How Treated in Account Before Register:--Whenever an executor or administrator shall make an assignment of any investment or shall transfer or deliver any personal property of any testator or intestate to a guardian or trustee as payment in whole or in part of a specific legacy or of a distributive share, such guardian or trustee shall give to such executor or administrator, for the purpose of accounting by the executor or administrator in the settlement of the estate, only, a receipt therefor at the valuation affixed in the appraisement of the estate of such testator or intestate, and such receipt, when delivered to the Register of Wills before whom it shall be the duty of such executor or administrator to pass his account, shall be a sufficient discharge of such executor or administrator and of his sureties for any property so transferred or delivered, and such Guardian or Trustee may take over such property and may without liability for any loss or depreciation therein continue to hold the same, until in the exercise of due care it shall become no longer wise so to do; provided that nothing herein contained shall permit or require a guardian or trustee to take over in settlement of a distributive share of an estate property at a value less than the distributive portion of the estate to which such guardian or trustee would otherwise be entitled, and provided further that in case a guardian or trustee is acting under authority of an instrument or a court order, the terms and provisions of such instrument or court order shall be controlling as to the powers and duties of such guardian or trustee.
Approved May 1, 1939.