Debtor as representative: a debtor who becomes creditor's legal representative must hold and administer the debt for beneficiaries. When a debtor becomes the executor or other legal representative of the creditor, the debtor must hold the debt in trust and administer it for the benefit of the persons entitled; the obligation to preserve, account for, and apply the claim follows from the debtor's representative capacity and precludes using the debt for the debtor's own advantage.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Debtor as representative: a debtor who becomes creditor's legal representative must hold and administer the debt for beneficiaries.
When a debtor becomes the executor or other legal representative of the creditor, the debtor must hold the debt in trust and administer it for the benefit of the persons entitled; the obligation to preserve, account for, and apply the claim follows from the debtor's representative capacity and precludes using the debt for the debtor's own advantage.
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