CC 1416 - Liability of universal successors to creditors - Louisiana Statutes

SECTION 2. RIGHTS OF CREDITORS

Art. 1416. Liability of universal successors to creditors

A. Universal successors are liable to creditors for the payment of the estate debts in proportion to the part which each has in the succession, but each is liable only to the extent of the value of the property received by him, valued as of the time of receipt.

B. A creditor has no action for payment of an estate debt against a universal successor who has not received property of the estate.

Acts 1997, No. 1421, §1, eff. July 1, 1999; Acts 2001, No. 824, §1.