§ 53-7-35 - (Pre-1998 Probate Code) Determination of value of estate for purpose of giving bond - Georgia Statutes

O.C.G.A. 53-7-35 (2010)
53-7-35. (Pre-1998 Probate Code) Determination of value of estate for purpose of giving bond

Any other law to the contrary notwithstanding, in every case in which an executor of any will, an administrator of the estate of any decedent, the trustee of any trust, or the guardian of the property of any person is required by any statute of this state, by the judge of the probate court of any county, or by the judge of any court of competent jurisdiction to give bond for the faithful performance of his or its duties in such fiduciary capacity and the amount of the bond is dependent upon the value of the estate, the value of the estate for purposes of the bond shall be determined without regard to the value of any real property or improvements thereon held by the executor, administrator, trustee, or guardian in his or its fiduciary capacity. Upon the conversion by any such fiduciary of the real property into personalty, the fiduciary shall thereupon give a new bond based upon the value of the estate, including the value of the personalty into which the real property was converted.