After assets of an estate have been distributed and subject to section 14-3936, an undischarged claim not barred may be prosecuted in a proceeding against one or more distributees. No distributee shall be liable to claimants for amounts received as exempt property, allowance in lieu of homestead or family allowance, or for amounts in excess of the value of his distribution as of the time of distribution. As between distributees, each shall bear the cost of satisfaction of unbarred claims as if the claim had been satisfied in the course of administration. Any distributee who shall have failed to notify other distributees of the demand made upon him by the claimant in sufficient time to permit them to join in any proceeding in which the claim was asserted against him loses his right of contribution against other distributees.

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Terms Used In Arizona Laws 14-3934

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Distributee: means any person who has received property of a decedent from that person's personal representative other than as a creditor or purchaser. See Arizona Laws 14-1201
  • Estate: includes the property of the decedent, trust or other person whose affairs are subject to this title as originally constituted and as it exists from time to time during administration. See Arizona Laws 14-1201
  • Exempt property: means that property of a decedent's estate that is described in section 14-2403. See Arizona Laws 14-1201
  • Proceeding: includes action at law and suit in equity. See Arizona Laws 14-1201