Sec. 3. Upon proof of a claim which will become due at some future time, the court shall allow it at the present value thereof, and payment may be made as in the case of an absolute claim which has been allowed: Provided, if the obligation upon which such claim was founded was entered into before January 1, 1954, payment may be made as above, if the creditors agree thereto. If payment is not made as above provided, the court may order the personal representative to retain in his hands sufficient funds to satisfy the claim upon maturity; or if the distributees shall give a bond to be approved by the court for the payment of the creditor's claim in accordance with the terms thereof, the court may order such bond to be given in satisfaction of such claim and the estate may be closed.
Formerly: Acts 1953, c.112, s.1403. As amended by Acts 1982, P.L.171, SEC.36.
Structure Indiana Code
Chapter 14. Claims Against the Estate
29-1-14-0.1. Application of Certain Amendments to Chapter
29-1-14-1. Limitations; Filing; Claims Barred or Not; Liens; Tort Claims
29-1-14-2. Actions; Definite Statement; Personal Representative Actions; Deductions From Claims
29-1-14-3. Future Claims; Payment; Bonds
29-1-14-4. Actions; Joint Contracts and Judgment
29-1-14-5. Joint Contracts and Judgments Deemed Joint and Several
29-1-14-6. Secured Claims, Allowance, and Payment
29-1-14-7. Contingent Claims; Payment; Bond of Distributee
29-1-14-8. Contingent Claims; Liability of Distributees; Contribution
29-1-14-9. Classification of Claims; Preferences
29-1-14-10. Allowance; Disallowance; Expenses of Administration
29-1-14-11. Inquiry Into Correctness; Liability on Bond
29-1-14-12. Trial; Pleading; Dismissal
29-1-14-13. Trial of Claims; Judgment; Set-Off or Counterclaim
29-1-14-14. Petitions; Defend Claims; Objections to Payment
29-1-14-15. Execution; Final Process; Payment; Mortgages, Pledges, or Liens; Enforcement
29-1-14-16. Liens and Mortgages, Enforcement; Sale of Real Estate; Exception
29-1-14-17. Personal Representative Claims
29-1-14-18. Compromise of Claims
29-1-14-19. Payment of Claims; Bond or Security of Creditor; Report of Insolvency
29-1-14-20. Mortgage; Pledge; Lien; Payment; Renewal; Extension