When a distributee of an estate is indebted to the estate, the amount of the indebtedness if due, or the present worth of the indebtedness, if not due, may be treated as an offset by the personal representative against any real or personal property of the estate to which the distributee is entitled. However, the distributee shall be entitled to the benefit of any defense which would be available to him or her in a direct proceeding for the recovery of the debt.
Ark. Code Ann. § 28-53-111
Setoffs
Applied in 1 court decision — leading case 71 Ark. App. 102 - Eddins v. Style Optics, Inc. (2000)
Most recently applied in 71 Ark. App. 102 - Eddins v. Style Optics, Inc. (September 2000)
Acts 1949, No. 140, § 165; A.S.A. 1947, § 62-2906.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.