California Probate Code 5672 – Each beneficiary is personally liable to the extent provided in …
Each beneficiary is personally liable to the extent provided in Section 5674 for the unsecured debts of the transferor. Any such debt may be enforced against the beneficiary in the same manner as it could have been enforced against the transferor if the transferor had not died. In any action based on the debt, the beneficiary may assert any defense, cross-complaint, or setoff that would have been available to the transferor if the transferor had not died. Nothing in this section permits enforcement of a claim that is barred under Part 4 (commencing with Section 9000) of Division 7. Section 366.2 of the Code of Civil Procedure applies in an action under this section.
(Added by Stats. 2015, Ch. 293, Sec. 17. (AB 139) Effective January 1, 2016. Repealed as of January 1, 2032, pursuant to Section 5600.)
Terms Used In California Probate Code 5672
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means a person to whom a donative transfer of property is made or that person's successor in interest, and:
California Probate Code 24
- Transferor: means the testator, settlor, grantor, owner, or other person who executes an instrument. See California Probate Code 81