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Tennessee Code Title 30. Administration of Estates § 30-3-110

Current as of January 02, 2024 | Updated by Findlaw Staff

Upon the entry of any final finding and decree as provided in § 30-3-108, the court shall proceed to wind up the receivership and terminate the proceedings:

(1) In the case of a finding under subsections (a) or (c) of § 30-3-108, that the absentee is dead:

(A) By satisfying all outstanding debts and charges of the receivership; and

(B) By then certifying the proceedings to the probate court; or

(2) In the case of a finding under § 30-3-108(b):

(A) By satisfying all outstanding debts and charges;

(B) By then deducting for the insurance fund provided in § 30-3-113, a sum equal to twenty-five percent (25%) of the total value of the property remaining, including amounts paid to the receivership estate from policies of insurance on the absentee's life; and

(C) By distributing the remaining property as provided in § 30-3-111; and

(3) In both cases by requiring the receiver's account and upon its approval discharging the receiver and the receiver's bondsmen and entering a final decree terminating the receivership.

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Cite this article: FindLaw.com - Tennessee Code Title 30. Administration of Estates § 30-3-110 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-30-administration-of-estates/tn-code-sect-30-3-110/

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