Ohio Code 2107.56 – Liability in case of insolvency
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When any of the persons liable to contribute toward the discharge of a testator‘s debt according to sections 2107.54 and 2107.55 of the Revised Code, is insolvent, the others shall be severally liable to each other for the loss occasioned by the insolvency, each being liable in proportion to the value of the property received by the person from the estate of the deceased. If any one of the persons liable dies without paying the person’s proportion of the debt, the executors and administrators of the person’s estate shall be liable for that proportion to the extent to which the person would have been liable if living.
Terms Used In Ohio Code 2107.56
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- Property: means real and personal property. See Ohio Code 1.59
- Testator: A male person who leaves a will at death.