SECTION 3. RESPONSIBILITY OF SUCCESSORS AMONG THEMSELVES Art. 1420. Regulation of payment of debts by testament or by agreement among successors The provisions of this Section pertaining to responsibility of the successors among themselves for estate debts do not prevent that responsibility from being otherwise regulated by the testament or by agreement of the successors. […]
Art. 1421. Estate debts, charged Unless otherwise provided by the testament, by agreement of the successors, or by law, estate debts are charged against the property of the estate and its fruits and products in accordance with the following articles. Acts 1997, No. 1421, §1, eff. July 1, 1999.
Art. 1422. Debts attributable to identifiable or encumbered property Estate debts that are attributable to identifiable property or to the production of its fruits or products are charged to that property and its fruits and products. Also, when the decedent has encumbered property to secure a debt, the debt is presumptively charged to that property […]
Art. 1423. Decedent’s debts charged ratably Debts of the decedent are charged ratably to property that is the object of general or universal legacies and to property that devolves by intestacy, valued as of the date of death. When such property does not suffice, the debts remaining are charged in the following order: (1) Ratably […]
Art. 1424. Administration expenses, how charged Administration expenses are charged ratably to the fruits and products of property that is the object of the general or universal legacies and property that devolves by intestacy. When the fruits and products do not suffice to discharge the administration expenses, the remaining expenses are charged first to the […]
Art. 1425. Liability of successors for contribution or reimbursement A successor who has not received property of the estate or its fruits and products, is not liable for contribution or reimbursement. A successor who has received property of the estate, or any of its fruits or products is not liable for contribution or reimbursement for […]
Art. 1426. Classification of receipts and expenditures in absence of controlling dispositions In the absence of an express testamentary provision or applicable provision of law, receipts and expenditures are allocated in accordance with what is reasonable and equitable in view of the interests of the successors who are entitled to the fruits and products as […]
Art. 1427. Reporting and deducting as authorized by tax law Notwithstanding the provisions of this Chapter, for tax purposes the succession representative, or the successors if there is no representative, may report receipts and deduct expenditures as authorized by the tax law. Acts 1997, No. 1421, §1, eff. July 1, 1999.
Art. 1428. Rights and obligations of usufructuary not superseded This Chapter does not supersede the provisions of this Code governing the rights and obligations of a usufructuary with respect to payment of estate debts. Acts 1997, No. 1421, §1, eff. July 1, 1999.
Art. 1429. Rights and obligations of income interest in trust not superseded This Chapter does not supersede the provisions of the Trust Code governing the rights and obligations of an income interest in trust with respect to payment of estate debts. Acts 1997, No. 1421, §1, eff. July 1, 1999.
