(a) Subject to the provisions of section 20-715, a personal representative shall, within 3 months of appointment, prepare a verified inventory of property owned by the decedent at the time of his death. The inventory shall list each item of property, describe each item of property in reasonable detail, indicate the fair market value of each item of property on the date of the decedent's death, and indicate the type and amount of the encumbrances if any, for each item of property. The personal representative shall include the following items in the inventory of property:
(1) real property;
(2) tangible personal property, excluding (A) wearing apparel, other than furs and jewelry, and (B) food for consumption by the family, and (C) family pictures, and (D) family Bibles;
(3) corporate stocks;
(4) debts owed to the decedent, including bonds and notes;
(5) bank accounts, building association shares, savings and loan association accounts, and money;
(6) debts owed to the decedent by the personal representative; and
(7) any other interest in property, tangible or intangible, that passes by the terms of a valid will or the law of intestate succession.
(b) If the administration is supervised as provided in section 20-401 et seq., and except as provided in section 20-731, the personal representative shall file with the Court the verified inventory with a certificate that there has been mailed or delivered to all interested persons, within the previous 15 days, a copy of the inventory with a notice that the inventory will be filed on or before a stated date. If the administration is not supervised, section 20-713.01 controls.
(June 24, 1980, D.C. Law 3-72, § 101, 27 DCR 2155; Mar. 21, 1995, D.C. Law 10-241, § 3(hh), 42 DCR 63; Mar. 24, 1998, D.C. Law 12-81, § 13(b), 45 DCR 745.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 20-711.
Legislative History of Laws
For legislative history of D.C. Law 3-72, see Historical and Statutory Notes following § 20-701.
For legislative history of D.C. Law 10-241, see Historical and Statutory Notes following § 20-701.01.
Law 12-81, the "Technical Amendments Act of 1998," was introduced in Council and assigned Bill No. 12-408, which was referred to the Committee of the Whole. The Bill was adopted on first and second readings on November 4, 1997, and December 4, 1997, respectively. Signed by the Mayor on December 22, 1997, it was assigned Act No. 12-246 and transmitted to both Houses of Congress for its review. D.C. Law 12-81 became effective on March 24, 1998.
(a) In a supervised administration, the fair market value of each item listed in the inventory, as of the date of death of the decedent, shall be determined by an appraisal. Except as specifically provided by this subsection, the supervised personal representative may use either the standing appraisers or special appraisers, as the personal representative deems appropriate. The supervised personal representative may appraise the following items listed in section 20-711(a):
(1) items listed in paragraphs (4), (5), and (6); and
(2) items listed in paragraph (3) that are listed on any national or regional exchange or are sold in the over-the-counter market for which bid and asked prices are regularly published.
(b) An appraisal shall be in columnar form, shall describe generally each item that has been appraised, shall assign a value to each item that has been appraised, and shall be verified by the appraiser. A verification under this section shall certify that the appraiser has impartially valued the property described in the appraisal to the best of the appraiser's skill and judgment. Any appraisal not performed by the personal representative shall be delivered to the personal representative immediately upon completion and verification. The name and address of any appraiser shall be indicated on the inventory with the item or items appraised.
(c) An appraisal fee shall be payable only to a person making an appraisal at the request of the personal representative.
(d) If the filing of the inventory was not required within 3 months after the appointment of the personal representative, either because the administration was at that time unsupervised or because it was waived pursuant to section 20-731, and if the inventory is subsequently required to be filed, the requirement for appraisals in that event shall be excused unless otherwise ordered by the Court for good cause shown.
(June 24, 1980, D.C. Law 3-72, § 101, 27 DCR 2155; Mar. 21, 1995, D.C. Law 10-241, § 3(ii), 42 DCR 63.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 20-712.
Legislative History of Laws
For legislative history of D.C. Law 3-72, see Historical and Statutory Notes following § 20-701.
For legislative history of D.C. Law 10-241, see Historical and Statutory Notes following § 20-701.01.
Miscellaneous Notes
Application of Law 10-241: See Application of Law 10-241 and Emergency act amendment notes to § 20-701.01.
(a) Except as provided in section 20-731, the supervised personal representative shall report to the Court any property discovered after the filing of the original inventory by filing a supplemental inventory. For each item of after-discovered property, the supplemental inventory shall satisfy the requirements of section 20-711(a) and shall be certified in accordance with subsection (c) of this section.
(b) A supervised personal representative shall have any item reappraised upon discovering that the original appraisal was erroneous or misleading. The supervised personal representative shall file the reappraisal and certification required by subsection (c) with the Court.
(c) A supplemental inventory or reappraisal filed with the Court shall be accompanied by a certification by the supervised personal representative that there has been mailed or delivered to all interested persons within the previous 15 days a copy of the supplemental inventory or reappraisal.
(June 24, 1980, D.C. Law 3-72, § 101, 27 DCR 2155; Mar. 21, 1995, D.C. Law 10-241, § 3(jj), 42 DCR 63; Apr. 9, 1997, D.C. Law 11-255, § 19(e), 44 DCR 1271.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 20-713.
Legislative History of Laws
For legislative history of D.C. Law 3-72, see Historical and Statutory Notes following § 20-701.
For legislative history of D.C. Law 10-241, see Historical and Statutory Notes following § 20-701.01.
For legislative history of D.C. Law 11-255, see Historical and Statutory Notes following § 16-701.01.
Miscellaneous Notes
Application of Law 10-241: See Application of Law 10-241 and Emergency act amendment notes to § 20-701.01.
(a) If the administration is unsupervised, the personal representative, if not a special administrator or a successor to another representative who has previously discharged this duty, shall, within 3 months after appointment, prepare and deliver or mail to each interested person an inventory of property owned by the decedent at the time of death, listing each item of such property with reasonable detail, and indicating as to each listed item, its fair market value as of the date of the decedent's death, and the type and amount of any encumbrance that may exist with reference to any item.
(b) The personal representative may also file the verified original of the inventory for record with the Court.
(c) The personal representative may use the standing appraisers or may employ any other qualified and disinterested appraiser to assist in ascertaining the fair market value as of the date of the decedent's death of any asset the value of which may be subject to reasonable doubt. Different persons may be employed to appraise different kinds of assets included in the estate. The names and addresses of any appraiser shall be indicated on the inventory with the item or items appraised.
(d) If any property not included in the original inventory comes to the knowledge of a personal representative or if the personal representative learns that the value or description indicated in the original inventory for any item is erroneous or misleading, the personal representative shall make a supplementary inventory or appraisement showing the market value as of the date of the decedent's death of the new item or the revised market value or descriptions, and the appraisers or other data relied upon, if any, and file it with the Court if the original inventory was filed, and mail or deliver copies thereof to the interested persons.
(Mar. 21, 1995, D.C. Law 10-241, § 3(kk), 42 DCR 63.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 20-713.1.
Legislative History of Laws
For legislative history of D.C. Law 10-241, see Historical and Statutory Notes following § 20-701.01.
Miscellaneous Notes
Application of Law 10-241: See Application of Law 10-241 and Emergency act amendment notes to § 20-701.01.
Section 32(d) of D.C. Law 15-354 provides that the section designation of § 20-713.1 of the District of Columbia Official Code is redesignated as § 20- 713.01.
Whether the administration is or is not supervised, any interested person may, at any time before the estate is closed, petition the Court for revision of any value assigned to any item in the inventory and for inclusion or exclusion of any item erroneously omitted or listed in the inventory. After due notice and hearing, the Court may require such revision as it deems appropriate.
(June 24, 1980, D.C. Law 3-72, § 101, 27 DCR 2155; Mar. 21, 1995, D.C. Law 10-241, § 3(ll), 42 DCR 63.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 20-714.
Legislative History of Laws
For legislative history of D.C. Law 3-72, see Historical and Statutory Notes following § 20-701.
For legislative history of D.C. Law 10-241, see Historical and Statutory Notes following § 20-701.01.
Miscellaneous Notes
Application of Law 10-241: See Application of Law 10-241 and Emergency act amendment notes to § 20-701.01.
Except as provided in section 20-731, within 3 months of appointment, a supervised successor personal representative shall either file a new inventory to replace the inventory filed by a previous personal representative or file a written consent to the items as listed and valued in such previous inventory.
(June 24, 1980, D.C. Law 3-72, § 101, 27 DCR 2155; Mar. 21, 1995, D.C. Law 10-241, § 3(mm), 42 DCR 63.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 20-715.
Legislative History of Laws
For legislative history of D.C. Law 3-72, see Historical and Statutory Notes following § 20-701.
For legislative history of D.C. Law 10-241, see Historical and Statutory Notes following § 20-701.01.
Miscellaneous Notes
Application of Law 10-241: See Application of Law 10-241 and Emergency act amendment notes to § 20-701.01.
