75-3-810 - Claims not due and contingent or unliquidated claims.
75-3-810. Claims not due and contingent or unliquidated claims.
(1) If a claim which will become due at a future time or a contingent or unliquidated claimbecomes due or certain before the distribution of the estate, and if the claim has been allowed orestablished by a proceeding, it is paid in the same manner as presently due and absolute claims ofthe same class.
(2) In other cases the personal representative, or, on petition of the personal representativeor the claimant in a special proceeding for the purpose, the court may provide for payment asfollows:
(a) If the claimant consents, he may be paid the present or agreed value of the claim,taking any uncertainty into account;
(b) Arrangement for future payment, or possible payment, on the happening of thecontingency or on liquidation may be made by creating a trust, giving a mortgage, obtaining abond or security from a distributee, or otherwise.
Enacted by Chapter 150, 1975 General Session