§ 59-74 Surviving partner to give bond
§ 59-75 Effect of failure to give bond
§ 59-76 Surviving partner and personal representative to make inventory
§ 59-77 When personal representative may take inventory; receiver
§ 59-78 Notice to creditors
§ 59-79 Debts paid pro rata; liens
§ 59-80 Effect of failure to present claim in six months
§ 59-81 Procedure for purchase by surviving partner
§ 59-82 Surviving partner to account and settle
§ 59-83 Accounting compelled
§ 59-84 Settlement otherwise provided for
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Terms Used In North Carolina General Statutes > Chapter 59 > Article 3 - Surviving Partners

  • Appraisal: A determination of property value.
  • 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
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • 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: shall include all property, both real and personal. See North Carolina General Statutes 12-3
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3