Subject to, and except
as enacted by section 47, no action or suit or other proceeding shall be
brought to recover the estate, or any share of the estate of any person dying
intestate from the legal representative of such intestate, but within 12 years
next after the present right to receive the same has accrued to some person
capable of giving a discharge for or release of the same; unless in the
meantime some part of such estate or share, or some interest in respect
thereof has been accounted for or paid, or some acknowledgment of the right
thereto has been given in writing signed by the person accountable for the
same or his agent to the person entitled thereto or his agent; and in such
case no such action or suit shall be brought but within 12 years next after
such accounting, payment, or acknowledgment, or the last of such accountings,
payments, or acknowledgments (if more than one) was made or given.