Tenn. Code Ann. § 30-2-318
This is the official text of Tenn. Code Ann. § 30-2-318, part of Tennessee’s Code Ann — part of the compiled statutory law of Tennessee, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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Payment of claims prior to time fixed for payment
Official statutory text
(a) At any time prior to the expiration of the period fixed for the payment of claims, the personal representative may pay the preferred claims as provided in § 30-2-317 for which the estate may be liable, and upon order of court any debt of the decedent for which security may have been given that is in danger of being sold by way of foreclosure to the detriment of the estate. (b) If the executor or administrator knows or is willing to undertake that an estate is solvent, the executor or administrator may pay debts, but if the executor or administrator pays any debts other than those specified in subsection (a) prior to the expiration of the time fixed for the payment of claims, and the estate proves insolvent, the executor or administrator and the sureties of the executor or administrator shall be liable to each and every creditor for the creditor's ratable share of the insolvent estate. Code 1858, § 2325 (deriv. Acts 1851-1852, ch. 283, § 1); Shan., § 4064; mod. Code 1932, § 8260; modified; Acts 1939, ch. 175, § 4; C. Supp. 1950, § 8196.5 (Williams, § 8196.4); T.C.A. (orig. ed.), §§ 30-521, 30-522.
(a) At any time prior to the expiration of the period fixed for the payment of claims, the personal representative may pay the preferred claims as provided in § 30-2-317 for which the estate may be liable, and upon order of court any debt of the decedent for which security may have been given that is in danger of being sold by way of foreclosure to the detriment of the estate.
(b) If the executor or administrator knows or is willing to undertake that an estate is solvent, the executor or administrator may pay debts, but if the executor or administrator pays any debts other than those specified in subsection (a) prior to the expiration of the time fixed for the payment of claims, and the estate proves insolvent, the executor or administrator and the sureties of the executor or administrator shall be liable to each and every creditor for the creditor's ratable share of the insolvent estate.
Code 1858, § 2325 (deriv. Acts 1851-1852, ch. 283, § 1); Shan., § 4064; mod. Code 1932, § 8260; modified; Acts 1939, ch. 175, § 4; C. Supp. 1950, § 8196.5 (Williams, § 8196.4); T.C.A. (orig. ed.), §§ 30-521, 30-522.
(a) At any time prior to the expiration of the period fixed for the payment of claims, the personal representative may pay the preferred claims as provided in § 30-2-317 for which the estate may be liable, and upon order of court any debt of the decedent for which security may have been given that is in danger of being sold by way of foreclosure to the detriment of the estate.
(b) If the executor or administrator knows or is willing to undertake that an estate is solvent, the executor or administrator may pay debts, but if the executor or administrator pays any debts other than those specified in subsection (a) prior to the expiration of the time fixed for the payment of claims, and the estate proves insolvent, the executor or administrator and the sureties of the executor or administrator shall be liable to each and every creditor for the creditor's ratable share of the insolvent estate.
Code 1858, § 2325 (deriv. Acts 1851-1852, ch. 283, § 1); Shan., § 4064; mod. Code 1932, § 8260; modified; Acts 1939, ch. 175, § 4; C. Supp. 1950, § 8196.5 (Williams, § 8196.4); T.C.A. (orig. ed.), §§ 30-521, 30-522.
Status: in_force
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