Loading chat...
IN SB0145
Bill
AI Summary
-
Surviving spouse's $25,000 estate allowance becomes subordinate to any liens on tangible personal property and real property that were perfected before the decedent's death
-
Repeals the three-month waiting period that previously prevented creditors from initiating foreclosure proceedings or enforcing judgments against a decedent's real estate
-
Eliminates the requirement that a personal representative must be named as a party defendant in any creditor lawsuit to foreclose a mortgage or other lien on estate property
-
Effective date: July 1, 2018
Legislative Description
Probate matters. Provides that the $25,000 allowance to which a spouse of a decedent is entitled from the decedent's estate is subordinate to any specific liens on the tangible personal property and real property of the estate that were perfected before the date of the decedent's death. Repeals laws that: (1) impose a three-month delay for certain creditor actions, including foreclosures; and (2) require that a personal representative be named in any suit by a creditor against an estate.
Last Action
First reading: referred to Committee on Judiciary
1/3/2018