North Carolina General Statutes > Chapter 28A > Article 20 – Inventory
Current as of: 2024 | Check for updates
|
Other versions
| § 28A-20-1 | Inventory within three months |
| § 28A-20-2 | Compelling the inventory |
| § 28A-20-3 | Supplemental inventory |
| § 28A-20-4 | Employment of appraisers |
Terms Used In North Carolina General Statutes > Chapter 28A > Article 20 - Inventory
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Collector: means any person authorized to take possession, custody, or control of the personal property of the decedent for the purpose of executing the duties outlined in N. See North Carolina General Statutes 28A-1-1
- 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.
- Personal representative: includes both an executor and an administrator, but does not include a collector. See North Carolina General Statutes 28A-1-1
- 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.