Michigan Compromise of Creditor's Claim against Estate by Payment of Cash and Conveying of Real Property

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Generally speaking, any creditors of a decedent at the time of his death can file a claim against the decedent's estate. The executor of the estate has a duty to pay any creditors that make a legitimate claim against the estate before distributing assets to the decedent's heirs. The process the estate goes through probate and how creditors are allowed to file claims is governed by state law.

This form is a settlement of certain claims against the estate.

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FAQ

In Michigan, creditors have up to 3 years from the date of death to present claims to the estate. However, if you have followed the Task: Publish Notice of Death correctly, creditors will have only 4 months from the date of the first publication of notice to creditors.

A creditor has 4 months from the date of publication or 1 month from the date they receive actual notice, whichever is later, to present their written claim or it will be barred. The written statement must indicate the basis of the claim, the claimant's name and address and the amount of the claim.

If the stolen property has a value of $1,000 or more but less than $20,000, it is considered a felony which carries a prison sentence of up to 5 years and/or a fine of up to $10,000 or three times the value of the stolen property, whichever is greater.

If the personal representative holds a mortgage, pledge, or other lien upon another person's property, the personal representative may, in lieu of foreclosure, accept a conveyance or transfer of encumbered property from the property's owner in satisfaction of the indebtedness secured by lien.

750.317a Delivery of schedule 1 or 2 controlled substance; death as felony; penalty.

(1) A person who, in the course of committing a larceny of any money or other property that may be the subject of larceny, uses force or violence against any person who is present, or who assaults or puts the person in fear, is guilty of a felony punishable by imprisonment for not more than 15 years.

Sec. 357. Larceny from the person?Any person who shall commit the offense of larceny by stealing from the person of another shall be guilty of a felony, punishable by imprisonment in the state prison not more than 10 years.

Disturbance of lawful meetings?Any person who shall make or excite any disturbance or contention in any tavern, store or grocery, manufacturing establishment or any other business place or in any street, lane, alley, highway, public building, grounds or park, or at any election or other public meeting where citizens ...

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Michigan Compromise of Creditor's Claim against Estate by Payment of Cash and Conveying of Real Property