Sec. 18. The personal representative may, if it appears for the best interests of the estate, compromise any claim against the estate, whether due or not due, absolute or contingent, liquidated or unliquidated, but if such claim is not filed such compromise must be consummated within three (3) months after the date of the first published notice to creditors. In the absence of prior authorization or subsequent approval by the court, no compromise shall bind the estate.
Formerly: Acts 1953, c.112, s.1418; Acts 1975, P.L.288, SEC.26. As amended by P.L.252-2001, SEC.21.
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