North Carolina General Statutes 28A-28-6. Spouse’s assumption of liabilities
Terms Used In North Carolina General Statutes 28A-28-6
- Counterclaim: A claim that a defendant makes against a plaintiff.
- 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.
- Intestate: Dying without leaving a will.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
If the clerk grants the order for summary administration, the spouse shall be deemed to have assumed, to the extent of the value of the property received by the spouse under the will of the decedent or by intestate succession, all liabilities of the decedent that were not discharged by reason of death and liability for all taxes and valid claims against the decedent or the estate. The value of the property is the fair market value of the property on the date of death of the decedent less any liens or encumbrances on the property so received. The spouse may assert any defense, counterclaim, cross-claim, or setoff which would have been available to the decedent if the decedent had not died except for actions listed in N.C. Gen. Stat. § 28A-18-1(b). A spouse shall not be deemed to have assumed any liabilities of the decedent that were discharged by reason of death. (1995, c. 294, s. 1.)