Massachusetts § 5 - Property; accounting; profits or losses
Full text of Massachusetts Massachusetts General Laws § 5 — Property; accounting; profits or losses, with citation guidance and answers to common questions.
§ 5. Property; accounting; profits or losses
Section 5. An executor or administrator with respect to personal property or a guardian, conservator or trustee with respect to real and personal property shall account for such property at its appraised value, but he shall make no profit by the increase nor sustain any loss by the decrease or destruction of any part thereof without his fault. If he sells any of such property for more than its appraised value, he shall account for the excess; if he sells for less than its appraised value, he shall be allowed for the loss if the court finds that the sale was expedient, and for the interest of all concerned; and he shall not be accountable for a debt inventoried as due to the estate if the court finds that it remains uncollected without his fault.
Source: official Massachusetts text · Last verified 2026-08-27
Frequently Asked Questions About Massachusetts § 5
What does Massachusetts General Laws § 5 cover?
Section 5 ("Property; accounting; profits or losses") is part of the Massachusetts General Laws, the codified statutory law of Massachusetts. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Massachusetts § 5?
A common citation format is "Massachusetts General Laws § 5" (Massachusetts). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Massachusetts law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Massachusetts official source linked on this page or consult a licensed Massachusetts attorney.
How does Massachusetts § 5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Massachusetts can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Massachusetts.