(755 ILCS 5/28-10) (from Ch. 110 1/2, par. 28-10)
Sec. 28-10. Distribution.) (a) If it appears to the independent
representative that there are sufficient assets to pay all claims, the
independent representative may at any time or times distribute the estate
to the persons entitled thereto. As a condition of any distribution, the
independent representative may require the distributee to give him a
refunding bond in any amount the independent representative deems
reasonable, with surety approved by the independent representative or
without surety. If the distribution is made before the expiration of the
period when claims are barred under Section 18-12, the independent
representative must require the distributee to give him a refunding bond as
provided in Section 24-4. If the estate includes an interest in real
estate that has not been sold by the independent representative, the
independent representative must record and deliver to the persons entitled
thereto an instrument which contains the legal description of the real estate
and releases the estate's interest.
(b) If abatement or equalization of legacies pursuant to subsection 24-3(b)
or (c) is required, the independent representative shall determine the amount
of the respective contributions, the manner in which they are paid and whether
security is required.
(c) If it appears to the independent representative that the value of
the estate of the decedent remaining after payment of 1st class claims does
not exceed the amount of the surviving spouse's and child's awards due,
the independent representative may deliver the personal estate to the persons
entitled to the awards and close the estate as provided in Section 28-11,
without waiting until the expiration of the period when claims are barred
under Section 18-12.
(d) If property distributed in kind, or a security interest therein, is
acquired in good faith by a purchaser or lender for value from a distributee
(or from the successors in interest to a distributee) who has received physical
delivery or an assignment, deed, release or other instrument of distribution
from an independent representative, the purchaser or lender takes title
free of the rights of all persons having an interest in the estate and incurs
no liability to the estate, whether or not the distribution was proper.
(e) If a distributee is a minor or a person with a disability, the independent
representative may make distribution to the ward's representative, if any,
to a custodian for the ward under the Illinois Uniform Transfers to Minors
Act or the corresponding statute of any other state in which the ward or the
custodian resides, by deposit or investment of the ward's property subject
to court order under Section 24-21 or in any other manner authorized by law.
(Source: P.A. 99-143, eff. 7-27-15.)
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