Kansas Statutes > Chapter 59 > Article 10 – Partnership Estates
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Terms Used In Kansas Statutes > Chapter 59 > Article 10 - Partnership Estates
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Executor: A male person named in a will to carry out the decedent
- Executor: includes an administrator where the subject matter applies to an administrator. See Kansas Statutes 77-201
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Property: includes personal and real property. See Kansas Statutes 77-201