North Carolina General Statutes 28A-20-4. Employment of appraisers
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Terms Used In North Carolina General Statutes 28A-20-4
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Collector: means any person authorized to take possession, custody, or control of the personal property of the decedent for the purpose of executing the duties outlined in N. See North Carolina General Statutes 28A-1-1
- Decedent: A deceased person.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Personal representative: includes both an executor and an administrator, but does not include a collector. See North Carolina General Statutes 28A-1-1
A personal representative or collector may, but shall not be required to, employ qualified and disinterested appraisers to assist in ascertaining the fair market value as of the date of the decedent‘s death of any asset the value of which may be subject to reasonable doubt. Different persons may be employed to appraise different kinds of assets. The name and address of any appraiser shall be indicated in the inventory with the asset or assets the appraiser appraised. (1973, c. 1329, s. 3; 2011-344, s. 4.)