Utah Code 75-3-810. Claims not due and contingent or unliquidated claims
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(1) If a claim which will become due at a future time or a contingent or unliquidated claim becomes due or certain before the distribution of the estate, and if the claim has been allowed or established by a proceeding, it is paid in the same manner as presently due and absolute claims of the same class.
Terms Used In Utah Code 75-3-810
- Court: means any of the courts of record in this state having jurisdiction in matters relating to the affairs of decedents. See Utah Code 75-1-201 v2
- Distributee: means any person who has received property of a decedent from his personal representative other than as a creditor or purchaser. See Utah Code 75-1-201 v2
- Estate: includes the property of the decedent, trust, or other person whose affairs are subject to this title as originally constituted and as it exists from time to time during administration. See Utah Code 75-1-201 v2
- Personal representative: includes executor, administrator, successor personal representative, special administrator, and persons who perform substantially the same function under the law governing their status. See Utah Code 75-1-201 v2
- Petition: means a written request to the court for an order after notice. See Utah Code 75-1-201 v2
- Proceeding: includes action at law and suit in equity. See Utah Code 75-1-201 v2
- Security: includes any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest, or participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease, collateral trust certificate, transferable share, voting trust certificate, and, in general, any interest or instrument commonly known as a security, or any certificate of interest or participation, any temporary or interim certificate, receipt, or certificate of deposit for, or any warrant or right to subscribe to or purchase, any of the foregoing. See Utah Code 75-1-201 v2
- Trust: includes :(60)(a)(i) a health savings account, as defined in Section 223of the Internal Revenue Code;(60)(a)(ii) an express trust, private or charitable, with additions thereto, wherever and however created; or(60)(a)(iii) a trust created or determined by judgment or decree under which the trust is to be administered in the manner of an express trust. See Utah Code 75-1-201 v2(2) In other cases the personal representative, or, on petition of the personal representative or the claimant in a special proceeding for the purpose, the court may provide for payment as follows:(2)(a) If the claimant consents, he may be paid the present or agreed value of the claim, taking any uncertainty into account;(2)(b) Arrangement for future payment, or possible payment, on the happening of the contingency or on liquidation may be made by creating a trust, giving a mortgage, obtaining a bond or security from a distributee, or otherwise.