Current with changes from the 2024 legislative session effective on or before 7/1/2024, from Acts 1-3, 6-671
Section 1416 - Liability of universal successors to creditorsA. Universal successors are liable to creditors for the payment of the estate debts in proportion to the part which each has in the succession, but each is liable only to the extent of the value of the property received by him, valued as of the time of receipt.B. A creditor has no action for payment of an estate debt against a universal successor who has not received property of the estate.Acts 1997, No. 1421, §1, eff. July 1, 1999; Acts 2001, No. 824, §1.Acts 1997, No. 1421, §1, eff. 7/1/1999; Acts 2001, No. 824, §1.