State Codes and Statutes

Statutes > North-carolina > Chapter_28A > GS_28A-15-10

§ 28A‑15‑10. Assets of decedent's estate for limited purposes.

(a)        When needed tosatisfy claims against a decedent's estate, assets may be acquired by apersonal representative or collector from the following sources:

(1)        Tentative trustscreated by the decedent in savings accounts for other persons.

(2)        Gifts causa mortismade by the decedent.

(3)        Joint depositaccounts with right of survivorship created by decedent pursuant to theprovisions of G.S. 41‑2.1 or otherwise; and joint tenancies with right ofsurvivorship created by decedent in corporate stocks or other investmentsecurities.

(4)        An interest in asecurity passing to a beneficiary pursuant to the provisions of Article 4 ofChapter 41 of the General Statutes.

Such assets shall be acquiredsolely for the purpose of satisfying such claims, however, and shall not beavailable for distribution to heirs or devisees.

(b)        Where there are notsufficient personal and real assets of the decedent to satisfy all the debtsand other claims against his estate, the personal representative shall have theright to sue for and recover any and all personal property or real property, orinterest therein, which the decedent may in any manner have transferred orconveyed with intent to hinder, delay, or defraud his creditors, and anypersonal property or real property, or interest therein, so recovered shallconstitute assets of the estate in the hands of the personal representative forthe payment of debts and other claims against the estate of the decedent. Butif the alienee has sold the personal property or real property, or interesttherein, so fraudulently acquired by him from the decedent to a bona fidepurchaser for value without notice of the fraud, then such personal property orreal property, or interest therein, may not be recovered from such bona fidepurchaser but the fraudulent alienee shall be liable to the personalrepresentative for the value of the personal property or real property, orinterest therein, so acquired and disposed of to a bona fide purchaser. If thewhole recovery from the fraudulent alienee shall not be necessary for thepayment of the debts and other claims against the estate of the decedent, thesurplus shall be returned to such fraudulent alienee or his assigns.

(c)        Where there has beena recovery in an action for wrongful death, the same shall not be applied tothe payment of debts and other claims against the estate of decedent ordevises, except as to the payment of reasonable burial and funeral expenses andreasonable hospital and medical expenses incident to the injury resulting indeath and as limited and provided in G.S. 28‑18‑2 [G.S. 28A‑18‑2].(1973, c. 1329,s. 3; 2005‑411, s. 2.)

State Codes and Statutes

Statutes > North-carolina > Chapter_28A > GS_28A-15-10

§ 28A‑15‑10. Assets of decedent's estate for limited purposes.

(a)        When needed tosatisfy claims against a decedent's estate, assets may be acquired by apersonal representative or collector from the following sources:

(1)        Tentative trustscreated by the decedent in savings accounts for other persons.

(2)        Gifts causa mortismade by the decedent.

(3)        Joint depositaccounts with right of survivorship created by decedent pursuant to theprovisions of G.S. 41‑2.1 or otherwise; and joint tenancies with right ofsurvivorship created by decedent in corporate stocks or other investmentsecurities.

(4)        An interest in asecurity passing to a beneficiary pursuant to the provisions of Article 4 ofChapter 41 of the General Statutes.

Such assets shall be acquiredsolely for the purpose of satisfying such claims, however, and shall not beavailable for distribution to heirs or devisees.

(b)        Where there are notsufficient personal and real assets of the decedent to satisfy all the debtsand other claims against his estate, the personal representative shall have theright to sue for and recover any and all personal property or real property, orinterest therein, which the decedent may in any manner have transferred orconveyed with intent to hinder, delay, or defraud his creditors, and anypersonal property or real property, or interest therein, so recovered shallconstitute assets of the estate in the hands of the personal representative forthe payment of debts and other claims against the estate of the decedent. Butif the alienee has sold the personal property or real property, or interesttherein, so fraudulently acquired by him from the decedent to a bona fidepurchaser for value without notice of the fraud, then such personal property orreal property, or interest therein, may not be recovered from such bona fidepurchaser but the fraudulent alienee shall be liable to the personalrepresentative for the value of the personal property or real property, orinterest therein, so acquired and disposed of to a bona fide purchaser. If thewhole recovery from the fraudulent alienee shall not be necessary for thepayment of the debts and other claims against the estate of the decedent, thesurplus shall be returned to such fraudulent alienee or his assigns.

(c)        Where there has beena recovery in an action for wrongful death, the same shall not be applied tothe payment of debts and other claims against the estate of decedent ordevises, except as to the payment of reasonable burial and funeral expenses andreasonable hospital and medical expenses incident to the injury resulting indeath and as limited and provided in G.S. 28‑18‑2 [G.S. 28A‑18‑2].(1973, c. 1329,s. 3; 2005‑411, s. 2.)


State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_28A > GS_28A-15-10

§ 28A‑15‑10. Assets of decedent's estate for limited purposes.

(a)        When needed tosatisfy claims against a decedent's estate, assets may be acquired by apersonal representative or collector from the following sources:

(1)        Tentative trustscreated by the decedent in savings accounts for other persons.

(2)        Gifts causa mortismade by the decedent.

(3)        Joint depositaccounts with right of survivorship created by decedent pursuant to theprovisions of G.S. 41‑2.1 or otherwise; and joint tenancies with right ofsurvivorship created by decedent in corporate stocks or other investmentsecurities.

(4)        An interest in asecurity passing to a beneficiary pursuant to the provisions of Article 4 ofChapter 41 of the General Statutes.

Such assets shall be acquiredsolely for the purpose of satisfying such claims, however, and shall not beavailable for distribution to heirs or devisees.

(b)        Where there are notsufficient personal and real assets of the decedent to satisfy all the debtsand other claims against his estate, the personal representative shall have theright to sue for and recover any and all personal property or real property, orinterest therein, which the decedent may in any manner have transferred orconveyed with intent to hinder, delay, or defraud his creditors, and anypersonal property or real property, or interest therein, so recovered shallconstitute assets of the estate in the hands of the personal representative forthe payment of debts and other claims against the estate of the decedent. Butif the alienee has sold the personal property or real property, or interesttherein, so fraudulently acquired by him from the decedent to a bona fidepurchaser for value without notice of the fraud, then such personal property orreal property, or interest therein, may not be recovered from such bona fidepurchaser but the fraudulent alienee shall be liable to the personalrepresentative for the value of the personal property or real property, orinterest therein, so acquired and disposed of to a bona fide purchaser. If thewhole recovery from the fraudulent alienee shall not be necessary for thepayment of the debts and other claims against the estate of the decedent, thesurplus shall be returned to such fraudulent alienee or his assigns.

(c)        Where there has beena recovery in an action for wrongful death, the same shall not be applied tothe payment of debts and other claims against the estate of decedent ordevises, except as to the payment of reasonable burial and funeral expenses andreasonable hospital and medical expenses incident to the injury resulting indeath and as limited and provided in G.S. 28‑18‑2 [G.S. 28A‑18‑2].(1973, c. 1329,s. 3; 2005‑411, s. 2.)