Section 5-601 - Administration in accordance with subtitle. - Maryland Statutes

§ 5-601. Administration in accordance with subtitle.
 

(a)  Administration - In general.- If the property of the decedent subject to administration in Maryland is established to have a value of $30,000 or less as of the date of the death of the decedent, the estate may be administered in accordance with the provisions of §§ 5-602 through 5-607 of this subtitle. 

(b)  Same - Prior to filing initial account in administrative proceedings.- If, before the filing of an initial account in administration proceedings instituted under Subtitle 3 or Subtitle 4 of this title, the property of the decedent subject to administration in Maryland is established to have a value of $30,000 or less as of the date of the death of the decedent, the estate thereafter may be administered in accordance with the provisions of §§ 5-602 through 5-607 of this subtitle. 

(c)  Surviving spouses.- If the surviving spouse is the sole legatee or heir of the decedent and if before the filing of an initial account in administration proceedings instituted under Subtitle 3 or Subtitle 4 of this title, the property of the decedent subject to administration in Maryland is established to have a value of $50,000 or less as of the date of the death of the decedent, the estate thereafter may be administered in accordance with the provisions of §§ 5-602 through 5-607 of this subtitle. 

(d)  Determination of value.- For the purpose of this subtitle, value is determined by the fair market value of property less debts of record secured by the property, as of the date of death, to the extent that insurance benefits are not payable to the lien holder or secured party for the secured debt. 
 

[An. Code 1957, art. 93, § 5-601; 1974, ch. 11, § 2; ch. 649, § 1; 1978, ch. 863; 1982, chs. 778, 779; 1983, ch. 222; 1987, ch. 614; 1988, ch. 2, § 6; 1997, ch. 693; 2000, ch. 118.]