§ 28A-19-5. Contingent claims. - North Carolina Statutes

§28A‑19‑5.  Contingent claims.

If a contingent orunliquidated claim becomes absolute before the distribution of the estate ofthe decedent, it shall be paid in the same manner as absolute claims of thesame class. In other cases the clerk of superior court may provide for thepayment of contingent or unliquidated claims in any one of the following ways:

(1)        The creditor and thepersonal representative or collector may determine, by agreement, arbitration,or compromise, the value of the contingent or unliquidated claim, according toits probable present worth, and with the approval of the clerk of superiorcourt, it may be allowed and paid in the same manner as an absolute claim.

(2)        The clerk ofsuperior court may order the personal representative or collector to retainsufficient funds to pay the claim if and when the same becomes absolute, andorder distribution of the balance of the estate.

(3)        The clerk ofsuperior court may order distribution of the estate as though the contingent orunliquidated claim did not exist, but the heirs and devisees of the estate ofthe decedent are liable to the creditor to the extent of the estate received bythem, if the contingent or unliquidated claim thereafter becomes absolute; andthe court may require  such heirs and devisees to give bond for the performanceof their liability to the contingent or unliquidated creditor.

(4)        Such other method asthe clerk of superior court may order. (1973, c. 1329, s. 3.)