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An individual or trust institution nominated in a will and appointed by a court to settle the estate of a deceased person.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


A person who administers the estate of a deceased person. The executor (if male) or executrix (if female) is responsible for gathering all of the decedent's assets and giving them to the appropriate beneficiaries. He/she is often a family member or lawyer who is either appointed in the decedent's will or by a court. The executor/executrix has a fiduciary responsibility to act on behalf of the decedent and to fulfill, as closely as possible, the wishes set forth in the will. Persons under 18 and convicted felons cannot serve as executors.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


One named in a will to fulfill the wishes of a decedent regarding the disposition of assets. Today, the word refers to both males and females serving in that capacity. At one time, executor referred only to males,and the female was called an executrix.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Section 365(a) of the Bankruptcy Code permits a Chapter 11 debtor to assume or reject an unexpired executory contract or lease, subject to court approval.
be rejected as executory contracts, pursuant to [section] 365, (28) as
Capital leases create a tangible asset and debt that survive bankruptcy; on the other hand, executory contract leases (formerly operating leases) create unique intangible assets and liabilities (nondebt in bankruptcy) that only exist to a going concern.
For the lessee, FASB and the International Accounting Standards Board (the boards) have proposed a right-of-use model that is a hybrid form of the executory contract model.
The Bankruptcy Code allows a debtor to assume an executory contract subject to certain conditions.
Most lease transactions provide for the payment by one of the parties of executory costs such as insurance, maintenance and taxes in connection with the leased property.
In line with the tax amnesty rates, delinquent accounts and assessments, which have become final and executory, were set a rate of 40 percent of the basic tax assessed; those tax cases subject of final and executory, judgment by the courts at 50 percent of the basic tax assessed; those with pending criminal cases filed with the DOJ, 60- percent rate of the basic tax assessed; and 100 percent of the basic tax assessed for withholding agents who withheld taxes but failed to remit the same to the BIR.
Under the guidelines, qualified applicants with delinquent accounts covering taxable year 2017 and prior years and assessments that have become final and executory will pay only 40 percent of the basic tax assessed.
15, 2018 could no longer be subject of ordinary appeals because dismissal of administrative case is considered final and executory under the Rules of the Ombudsman.
9 December 2016 - US-based iron ore concentrate and pellet producer Magnetation LLC has filed a motion with the US Bankruptcy Court seeking authority to enter into an asset purchase agreement that provides for the sale and transfer of substantially all of its remaining assets and certain liabilities along with the assumption and assignment of certain executory contracts and leases in connection with a sale to ERP Iron Ore, LLC through a credit bid by the company's post-petition lenders.