Marvin Mandel, Governor                        1723

(p) Incorporate any business or venture in which the decedent
was engaged at the time of his death if none of the probable dis-
tributees of the business who are competent adults objects to its
incorporation and retention in the estate;

(q) Exercise any options, rights and privileges contained in any
life insurance policy, annuity, or endowment contract constituting
property of the estate, including the right to obtain the cash
surrender value, convert any such policy to any other type of policy,
revoke any mode of settlement, and pay any part or all of the pre-
miums on any such policy or contract;

(r) Pay any valid claim and distribute the estate as provided
in this article;

(s) When any assets of the estate are encumbered by mortgage,
pledge, lien, or other security interest, pay the encumbrance or any
part thereof, renew, or extend any obligation secured by the encum-
brance, or convey or transfer the assets to the creditor in satis-
faction of his security interest, in whole or in part, whether or not
the holder of the encumbrance has filed a claim, if any such act
appears to be in the best interests of the estate ;

(t) Regardless of any contrary provision in the will, to execute,
upon the written demand of the owner of a redeemable leasehold
or subleasehold estate, a full and valid conveyance of the reversion
or subreversion held by the estate;

(u) Release or terminate any mortgage or security interest, if the
obligation secured by the mortgage or security interest was fully
satisfied during the decedent's lifetime or during the administration
of the estate;

(v) Make partial distributions, in cash, in kind, or both, from
time to time during the administration;

(w) Agree to deposit any of the assets of the estate with any
financial institution in such a manner that the assets cannot be
withdrawn or transferred without (1) the written consent of the
surety on the bond or (2) an order of court. (An. Code, 1951, Sections
21, 43, 85, 111; 1939, Sections 23, 41).

7-402.

A PERSONAL REPRESENTATIVE MAY AT ANY TIME PE-
TITION THE COURT FOR PERMISSION TO ACT IN ANY
MATTER RELATING TO THE ADMINISTRATION OF THE
ESTATE. THE COURT MAY PASS ANY ORDER IT DEEMS
PROPER, INCLUDING, BUT NOT LIMITED TO, ORDERS AU-
THORIZING THE PERSONAL REPRESENTATIVE TO EXER-
CISE ANY POWER, WHETHER OR NOT OTHERWISE CON-
FERRED UPON HIM BY WILL, COMMON LAW, OR STATUTE,
SUCH AS THE POWER TO MORTGAGE, LEASE, OR SELL
ANY PROPERTY AT PUBLIC OR PRIVATE SALE, IN SUCH
MANNER AND UPON SUCH TERMS AS THE COURT MAY
DIRECT.

[7-405.

(a) Distribution of personal property.—If the personal rep-
resentative cannot obtain agreement from all interested persons en-