It is the duty of the trustee of an express trust created for the payment of debts, within 20 days after entering upon the execution of such trust, to make an inventory of the entire trust property so far as the same has come to his possession or knowledge, describing the real estate and grouping and classifying the personal property in as brief and comprehensive manner as may be consistent with its proper identification and appraisement, and stating the amount and character of all choses in action, with the names of debtors, belonging to the trust. In reducing such inventory to writing, the trustee must leave appropriate spaces opposite each article or item, with proper caption, in which spaces the appraised value may be inserted by the appraisers. The trustee must, within the time above stipulated, file, in the office of the register or clerk of the county in which the most valuable portion of the trust property may be, two copies of such inventory, each of which shall be duly verified by his affidavit; and if there be property in more than one county, a separate inventory of the property in each county must be made and filed. Supplemental inventories may be made in like manner.
Structure Code of Alabama
Title 19 - Fiduciaries and Trusts.
Article 2 - Express Trusts for Payment or Security of Debts.
Section 19-3-20 - Right of Creditors to Apply for Order Requiring Trustee to Give Bond.
Section 19-3-21 - Contents of Application; Notice of Hearing.
Section 19-3-22 - Hearing; Order.
Section 19-3-23 - Failure of Trustee to Give Bond; Appointment of Successor.
Section 19-3-24 - Duty of Trustee to Make Inventory; Filing of Copies; Supplemental Inventories.
Section 19-3-25 - Appointment and Duties of Appraisers.
Section 19-3-26 - When Petition for Administration May Be Filed; Contents of Petition.
Section 19-3-28 - Notice to Creditors.
Section 19-3-29 - Presentation of Claims; Verification; Receipt.
Section 19-3-30 - Claims Docket.
Section 19-3-31 - Claims Presented and Not Objected to Stand Allowed.
Section 19-3-32 - Objections to Claims - Filing of Objections.
Section 19-3-33 - Objections to Claims - Time for Hearing; Notice.
Section 19-3-34 - Objections to Claims - Conduct of Hearing; Order Allowing or Disallowing Claim.
Section 19-3-35 - Duty of Trustee to Render Account.
Section 19-3-36 - Time for Settlement; Notice to Creditors.
Section 19-3-37 - Examination and Auditing of Account; Judgment.
Section 19-3-38 - Admissibility of Evidence at Hearings; Exceptions; Appeals.
Section 19-3-39 - Compromise or Sale of Bad Debts.
Section 19-3-40 - Sale of Real Estate; Notice to Creditors.
Section 19-3-41 - When Settlements Compelled; Removal of Trustee and Appointment of Successor.