Michigan Reports (Volume 202); Cases Decided in the Supreme Court of Michigan (Paperback)


This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1919. Not illustrated. Excerpt: ... after the debts were paid. It was nothing to them who the beneficiaries were, or whether they took by will or by inheritance. By statute the entire estate, real and personal, is held liable for deceased's debts, after payment of the necessary expenses of administration, including costs of her last sickness and funeral. 3 Comp. Laws 1915, 13794, 13887, 13888. Until the valid and properly proved claims of those who extended credit to deceased in her lifetime for money loaned, goods sold or services rendered are paid, the unearned gratuities to beneficiaries under her will or inheritances to her heirs are postponed and contingent, the corpus of the estate is subject to creditors' liens and the surplus rather than the gross assets constitutes the actual estate left to deceased's distributees or beneficiaries. "The law subjects the assets of a deceased person to the payment of his debts, and for this reason the creditor has an equitable lien thereon, which he can enforce through the administrator in a proper case for equitable interference." Pierce v. Holzer, 65 Mich. 263, 273. "Under our system the settlements of estates of deceased persons are essentially proceedings in rem (Howard v. Moore, 2 Mich. 226), as they are in most of the other States, in which the res is the decedent's estate and the jus ad rem is in the creditor. Upon the death of a person leaving creditors, the debts, previously personal obligations, become immediately property obligations, with all the force of a lien upon a debtor's estate." Lafferty v. People's Savings Bank, 76 Mich. 35, 51. Cases cited by appellant where fees of counsel and other expenses incurred by an executor or administrator in prosecuting or defending litigation directed to increasing or conserving the amount of t...

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This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1919. Not illustrated. Excerpt: ... after the debts were paid. It was nothing to them who the beneficiaries were, or whether they took by will or by inheritance. By statute the entire estate, real and personal, is held liable for deceased's debts, after payment of the necessary expenses of administration, including costs of her last sickness and funeral. 3 Comp. Laws 1915, 13794, 13887, 13888. Until the valid and properly proved claims of those who extended credit to deceased in her lifetime for money loaned, goods sold or services rendered are paid, the unearned gratuities to beneficiaries under her will or inheritances to her heirs are postponed and contingent, the corpus of the estate is subject to creditors' liens and the surplus rather than the gross assets constitutes the actual estate left to deceased's distributees or beneficiaries. "The law subjects the assets of a deceased person to the payment of his debts, and for this reason the creditor has an equitable lien thereon, which he can enforce through the administrator in a proper case for equitable interference." Pierce v. Holzer, 65 Mich. 263, 273. "Under our system the settlements of estates of deceased persons are essentially proceedings in rem (Howard v. Moore, 2 Mich. 226), as they are in most of the other States, in which the res is the decedent's estate and the jus ad rem is in the creditor. Upon the death of a person leaving creditors, the debts, previously personal obligations, become immediately property obligations, with all the force of a lien upon a debtor's estate." Lafferty v. People's Savings Bank, 76 Mich. 35, 51. Cases cited by appellant where fees of counsel and other expenses incurred by an executor or administrator in prosecuting or defending litigation directed to increasing or conserving the amount of t...

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Product Details

General

Imprint

General Books LLC

Country of origin

United States

Release date

2012

Availability

Supplier out of stock. If you add this item to your wish list we will let you know when it becomes available.

First published

2012

Authors

Dimensions

246 x 189 x 13mm (L x W x T)

Format

Paperback - Trade

Pages

238

ISBN-13

978-1-153-88688-8

Barcode

9781153886888

Categories

LSN

1-153-88688-X



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