Connecticut General Statutes § 45a-341 — Inventory to Be Filed; Property Included; Appraisal; Time Limits; Sale of Personal Property; Hearing

This statute governs the inventory requirement for the estates of decedents and insolvent debtors under Connecticut law. It specifies what property must be inventoried, how property is to be valued, when the inventory must be filed, and the procedural rules governing sales of property before and after an inventory is filed.

Statutory Text

Sec. 45a-341. Inventory to be filed; property included; appraisal; time limits; sale of personal property; hearing.

(a)

(1) An inventory of all the property of every deceased person and insolvent debtor, except real property situated outside the state, duly appraised, shall be made and signed under penalty of false statement by the fiduciary.

(2) When any personal property of a deceased person or insolvent debtor is outside of this state the court may receive an inventory of such property, accompanied by such evidence of its value as it deems sufficient and signed under penalty of false statement by the fiduciary.

(3) The inventory and appraisal of the estate of any deceased nonresident shall include only such interest as the decedent had at the time of his or her death in the real property and tangible personal property situated in this state and intangible personal property, provided intangible personal property shall not be included if the proceeding in this state with regard to such estate is ancillary to a proceeding in another jurisdiction.

(4) The fiduciary shall appraise or cause to be appraised such inventoried property at its fair market value.

(b)

(1) The fiduciary shall file the inventory in the court of probate having jurisdiction of the estate of the deceased person or insolvent debtor within two months after the acceptance of the bond or other qualification of the fiduciary.

(2) The court may, for cause shown, extend the time for the filing of such inventory to not more than four months from the qualification of the fiduciary.

(c) If the court grants administration of a decedent's estate to a person other than (1) the person designated in the will as executor or successor to such executor, (2) the surviving spouse, (3) any child of the decedent or any guardian of such child as the court shall determine, (4) any grandchild of the decedent or any guardian of such grandchild as the court shall determine, (5) the decedent's parents, (6) any brother or sister of the decedent, or (7) the next of kin entitled to share in the estate, the fiduciary appointed by the court shall file an inventory as required by this section prior to the sale, either under a power in the will or under the laws of this state, of any property other than real estate; except that if the fiduciary appointed is a state bank and trust company or national banking association authorized to do business in this state, such fiduciary shall not be required to file such an inventory of intangible personal property prior to sale. The fiduciary shall send a copy of such inventory to each person interested in the estate and shall notify each such person by regular mail, that a sale of certain items in the inventory is contemplated. Such notice shall inform the recipient that he or she may object to such sale by filing a notice of objection in writing with the court of probate having jurisdiction of the estate of the decedent within five days after receipt of such notice of sale. Upon receipt of such notice of objection, the court shall set a time and place for a hearing, with notice to all persons interested in the estate.

(d) Notwithstanding the provisions of subsection (c) of this section, upon application by the fiduciary, the court may order a sale of personal property without a hearing prior to the filing of an inventory and notice of sale, provided the court finds that an expeditious sale is necessary for the protection of the estate and a delay would cause irreparable harm to the estate.

(e) The fiduciary shall file an inventory containing a legal description of any real estate of the decedent prior to a sale pursuant to sections 45a-162 to 45a-169, inclusive, and sections 45a-427 and 45a-428.

Description

Section 45a-341 establishes the inventory requirement in Connecticut probate and insolvency proceedings. It specifies:

• Scope of the inventory: The fiduciary must inventory all property of the deceased person or insolvent debtor, with an explicit exclusion for real property situated outside Connecticut.
• Out-of-state personal property: Personal property located outside Connecticut may be included in the inventory if accompanied by evidence of value acceptable to the Probate Court.
• Nonresident decedents: For nonresident estates, the inventory is limited to the decedent’s interests in Connecticut real property, tangible personal property situated in Connecticut, and intangible personal property, unless the Connecticut proceeding is ancillary.
• Valuation standard: Inventoried property must be appraised at fair market value.
• Timing: The inventory must be filed within two months after the fiduciary qualifies, subject to extension by the court for cause shown, up to four months.
• Sales before inventory: In certain cases where the fiduciary is not a spouse, next of kin, or named beneficiary, the statute restricts the sale of personal property before an inventory is filed, with limited exceptions.
• Notice requirements: The fiduciary must provide copies of the inventory to interested persons and give notice of proposed sales, along with an opportunity to object.
• Emergency sales: The court may authorize the sale of personal property prior to inventory and notice if delay would cause irreparable harm.
• Real estate sales: An inventory containing a legal description of the decedent’s real estate must be filed before any court-authorized sale of that real estate.