Successor's indebtedness offset against interest; defenses.

  1. Law
  2. New Mexico Statutes
  3. Uniform Probate Code
  4. Probate of Wills and Administration
  5. SPECIAL PROVISIONS RELATING TO DISTRIBUTION
  6. Successor's indebtedness offset against interest; defenses.

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The amount of a noncontingent indebtedness of a successor to the estate if due, or its present value if not due, shall be offset against the successor's interest; but the successor has the benefit of any defense which would be available to him in a direct proceeding for recovery of the debt.

History: 1953 Comp., § 32A-3-903, enacted by Laws 1975, ch. 257, § 3-903.

ANNOTATIONS

Am. Jur. 2d, A.L.R. and C.J.S. references. — 34 C.J.S. Executors and Administrators § 494.


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