specialty creditor

A creditor to whom an heir is liable for a decedent’s debts to the extent of the land inherited.

• Historically, unless the creditor obtained a judgment against the debtor before the debtor’s death, the creditor’s right of action on the debt was limited to the decedent’s lawful heir. If the debtor devised the land to a stranger, the creditor’s claim was defeated. See HEIR(1).

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词条贡献者

译者蒋毅，毕业于亚洲顶尖的高级翻译学院，擅长翻译各种与破产与资产重组相关的法律文件。