Tennessee § 30-2-701 - Distribution of balance — Final settlement.

§ 30-2-701. Distribution of balance — Final settlement.

Upon the payment of all claims that are not contested and upon provision being made for expenses of administration, obligations on account of taxes and assessments that have not been settled, claims not due and undetermined contested claims, together with costs and expenses of litigation, the personal representative shall pay any balance remaining in the personal representative's hands to the distributees or legatees entitled to it, unless granted additional time by the court, or by the terms of the instrument under which the personal representative is acting, and thereafter, when all other legal liabilities have been paid, and the balance remaining has been delivered to those entitled to it or paid to the state treasurer, to be handled in accordance with title 66, chapter 29, part 1, relating to unclaimed property or administered as in § 30-2-402 ; provided, that in the event of insolvency, the personal representative shall make and file with the court a final settlement of the estate in accordance with chapter 2, part 6 of this title. Acts 1939, ch. 175, § 7; mod. C. Supp. 1950, § 8196.8 (Williams, § 8196.7); T.C.A. (orig. ed.), § 30-1301; Acts 1987, ch. 322, § 9; 2017, ch. 280, § 6. Amendments. The 2017 amendment added “in accordance with chapter 2, part 6 of this title” at the end of the section. Effective Dates. Acts 2017, ch. 280, § 8. July 1, 2017. Cross-References. Equality in dividing, § 31-5-101 . Jurisdiction of chancery courts of probate and related matters, title 16, chapter 16, part 2. Textbooks. Pritchard on Wills and Administration of Estates (4th ed., Phillips and Robinson), §§ 790, 794, 836. Law Reviews. Legal Rights and Issues Surrounding Conception, Pregnancy and Birth, 39 Vand. L. Rev. 597 (1986). Preferences, Priorities, and Powers of the State in the Collection of Delinquent Revenue: Tennessee's Tax Enforcement Procedures Act (Donald J. Serkin), 8 Mem. St. U.L. Rev. 707 (1978). Selected Tennessee Legislation of 1986, 54 Tenn. L. Rev. 457 (1987).