Section 43-2-700 Order and preference of payment of debts. When the real and personal property of any decedent is insufficient for the payment of the debts, the proceeds arising from the sale thereof must be distributed as directed by section 43-2-371 in proportion to the amounts due to each class of creditors, in the order […]
Section 43-2-701 Report of insolvency – Generally. Whenever the executor or administrator of any estate is satisfied that the property of the estate is insufficient to pay its debts, he must file with the judge of probate of the court having jurisdiction of the estate a report in writing that such estate is, to the […]
Section 43-2-702 Report of insolvency – Statement to be filed with report. He must file with such report: (1) A statement of all the goods and chattels, evidences of debt and other personal property, with the estimated value of each, and the amount of money belonging to such estate; (2) A full statement of the […]
Section 43-2-703 Report of insolvency – Affidavit accompanying report and statement. Such report and statement must be accompanied by an affidavit of the executor or administrator to the effect that they are correct to the best of his knowledge, information and belief. (Code 1852, §1831; Code 1867, §2180; Code 1876, §2552; Code 1886, §2225; Code […]
Section 43-2-704 Time for hearing; notice of hearing. The probate court, on the filing of such report and statements, must appoint a day, not less than 30 nor more than 60 days therefrom, to hear and determine the same and must give notice to the creditors of and to all persons interested in the estate […]
Section 43-2-705 Trial of issue of insolvency to be by jury. Any creditor or other person interested in the estate may make an issue as to the correctness of such report by denying in writing that the estate is insolvent, which issue must be tried by a jury on the application of any party; but […]
Section 43-2-706 Payment of costs. If such issue is decided against the executor or administrator, the report must be dismissed, and execution for the costs may issue against him and his sureties; but if it is decided in his favor, the costs must be paid by the contesting creditor, or parties interested in the estate, […]
Section 43-2-707 Declaration of insolvency. If no person contests the correctness of the report or if the issue is decided against contestant, the court must declare the estate insolvent and must make an order for the executor or administrator on a day therein named, not less than 30 nor more than 60 days therefrom, to […]
Section 43-2-708 Second declaration by succeeding administrator not necessary. An estate of a decedent having once been declared insolvent, it shall not be necessary for any succeeding administrator to apply for or obtain a declaration or decree of insolvency; but a declaration of insolvency once had, and remaining unreversed, shall continue and apply to and […]
Section 43-2-709 Appeals. (a) Any party to the proceedings to declare an estate insolvent may appeal to the supreme court or court of civil appeals from the decree or order declaring the estate insolvent or dismissing the report within 42 days from the rendition of such order or decree in the manner provided by law […]
