Unless a contrary intent is indicated by the will, the amount of a noncontingent indebtedness of a successor to the estate if due, or its present value if not due, shall be offset against the successor's interest; but the successor has the benefit of any defense which would be available to him in a direct proceeding for recovery of the debt.
Source: L. 73: R&RE, p. 1598, § 1. C.R.S. 1963: § 153-3-903.
Cross references: For debts to a decedent, see § 15-11-110.
Structure Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 12 - Probate of Wills and Administration
Part 9 - Special Provisions Relating to Distribution
§ 15-12-901. Successors' Rights if No Administration
§ 15-12-902. Distribution - Order in Which Assets Appropriated - Abatement
§ 15-12-903. Right of Retainer
§ 15-12-904. Interest on General Pecuniary Devise
§ 15-12-905. Penalty Clause for Contest
§ 15-12-906. Distribution in Kind - Valuation - Method
§ 15-12-907. Distribution in Kind - Evidence
§ 15-12-908. Distribution - Right or Title of Distributee
§ 15-12-909. Improper Distribution - Liability of Distributee
§ 15-12-910. Purchasers From Distributees Protected
§ 15-12-911. Partition for Purpose of Distribution
§ 15-12-912. Private Agreements Among Successors to Decedent Binding on Personal Representative
§ 15-12-913. Distributions to Trustee
§ 15-12-914. Disposition of Unclaimed Assets