Text of the provision
Sec. 15. Time for paying debts and legacies fixed, or extended after notice, within what periods. — On granting letters testamentary or administration the court shall allow to the executor or administrator a time for disposing of the estate and paying the debts and legacies of the deceased, which shall not, in the first instance, exceed one year; but the court may, on application of the executor or administrator and after hearing on such notice of the time and place therefor given to all persons interested as it shall direct, extend the time as the circumstances of the estate require not exceeding six months for a single extension nor so that the whole period allowed to the original executor or administrator shall exceed two years.
Rules of Court, Rule 88, Section 15. Reproduced verbatim and verified word-for-word against four independently published renderings of the Rules of Court — only text on which at least two independent publishers agree is shown.
About this section
This is Section 15 of Rule 88 (Payment Of The Debts Of The Estate) of the Rules of Court of the Philippines — the Special Proceedings rules (Rules 72–109), in force since January 1, 1964. The text above is reproduced verbatim.
Related provisions
- Section 14 — Creditors to be paid in accordance with terms of order.
- Section 16 — Successor of dead executor or administrator may have time extended on notice within certain period.
Cases citing this section
- Authorities on this section will be added here as each is verified against primary sources.