Lifetimes of excited states in 229 Th, populated in the β decay of 229 Ac, have been measured using the advanced time-delayed βγ γ (t) method. Half-lives of 14 states have been determined including 11 of them for the first time. Twenty-seven new γ lines have been introduced into the β-decay scheme of 229 Ac based on results of γ γ coincidence measurements. Reduced transition probabilities have been determined for more than 70 γ transitions in 229 Th. Average |D 0 | values of 0.029(1), 0.077(3), and 0.024(5) e fm have been deduced for the lowest K π = 1/2 ± , 3/2 ± , and 5/2 ± parity partner bands, respectively. Excited states in 229 Th and experimental transition rates have been interpreted within the quasiparticle-plus-phonon model. The half-life of the 3.5-eV, 3/2 + isomeric state is predicted to be about 10 h. Potential energy surfaces on the (β 2 , β 3 ) plane for the lowest single quasiparticle configurations in 229 Th have been calculated using the Strutinsky method.