Section 700.3814 – Encumbered Assets.
700.3814 Encumbered assets. Sec. 3814. If property of the estate is encumbered by mortgage, pledge, lien, or other security interest and it appears to be in the estate’s best interest, the personal representative may pay the encumbrance or a part of the encumbrance, renew or extend an obligation secured by the encumbrance, or convey or […]
Section 700.3815 – Effect of Administration in More Than One State.
700.3815 Effect of administration in more than one state. Sec. 3815. (1) Estate property being administered in this state is subject to a claim, allowance, or charge existing or established against the personal representative wherever appointed. (2) If the estate, either in this state or as a whole, is insufficient to cover all family exemptions […]
Section 700.3811 – Counterclaims.
700.3811 Counterclaims. Sec. 3811. In allowing a claim, the personal representative may deduct a counterclaim that the estate has against the claimant. In determining a claim against an estate, the court shall reduce the amount allowed by the amount of a counterclaim and, if counterclaims exceed the claim, render a judgment against the claimant in […]
Section 700.3812 – Limitation on Execution or Levy Against Property of Estate.
700.3812 Limitation on execution or levy against property of estate. Sec. 3812. An execution shall not issue upon nor shall a levy be made against estate property under a judgment against a decedent or personal representative. This section shall not be construed to prevent the enforcement of a mortgage, pledge, or lien upon property in […]
Section 700.3813 – Settlement of Claims.
700.3813 Settlement of claims. Sec. 3813. If a claim against the estate is presented in the manner provided in section 3804 and it appears to be in the estate’s best interest, the personal representative may settle the claim, whether due or not due, absolute or contingent, liquidated or unliquidated. History: 1998, Act 386, Eff. Apr. […]
Section 700.3804 – Manner of Presentation of Claims; Commencement; Claims by Personal Representative.
700.3804 Manner of presentation of claims; commencement; claims by personal representative. Sec. 3804. (1) A claimant must present a claim against a decedent’s estate in either of the following ways: (a) By delivering or mailing a written statement to the personal representative indicating the claim’s basis, the claimant’s name and address, and the amount claimed, […]
Section 700.3805 – Priority of Claim Payments; Insufficient Assets.
700.3805 Priority of claim payments; insufficient assets. Sec. 3805. (1) If the applicable estate property is insufficient to pay all claims and allowances in full, the personal representative shall make payment in the following order of priority: (a) Costs and expenses of administration. (b) Reasonable funeral and burial expenses. (c) Homestead allowance. (d) Family allowance. […]
Section 700.3806 – Allowance and Disallowance of Claims.
700.3806 Allowance and disallowance of claims. Sec. 3806. (1) If a claim is presented in the manner described in section 3804 and within the time limit prescribed in section 3803, the personal representative may deliver or mail a notice to a claimant stating that the claim has been disallowed in whole or in part. If, […]
Section 700.3807 – Payment of Claims.
700.3807 Payment of claims. Sec. 3807. (1) Upon the expiration of 4 months after the publication date of the notice to creditors, and after providing for administration costs and expenses, for reasonable funeral and burial expenses, for the homestead, family, and exempt property allowances, for claims already presented that have not yet been allowed or […]
Section 700.3808 – Individual Liability of Personal Representative.
700.3808 Individual liability of personal representative. Sec. 3808. (1) Unless otherwise provided in the contract, a personal representative is not individually liable on a contract properly entered into in the personal representative’s fiduciary capacity in the course of administration of the estate unless the personal representative fails to reveal his or her representative capacity and […]