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Dec 19, 2010 11:07
13 yrs ago
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English term
estate
English
Law/Patents
Law (general)
2005 Missouri Code - § 347.123. — Cessation of membership, events of withdrawal
I wonder if you could help me solve the following problem. I am not sure if the legal term "estate" as used in the 2005 Missouri Code - § 347.123. — Cessation of membership, events of withdrawal http://law.justia.com/missouri/codes/2005/t23/3470000123.htm...
(10) In the case of a member that is an estate, the distribution by the fiduciary of the estate's entire interest in the limited liability company;
is used to mean
(a) someone inheriting the aggregate of property or liabilities of all kinds that a person leaves for disposal at his death)
or
(b) more generally, as [the owner of] the property or a piece or aggregation of property in lands or tenements and sometimes personalty,
Or maybe it is used to mean something more general or completely different? What would you propose?
(10) In the case of a member that is an estate, the distribution by the fiduciary of the estate's entire interest in the limited liability company;
is used to mean
(a) someone inheriting the aggregate of property or liabilities of all kinds that a person leaves for disposal at his death)
or
(b) more generally, as [the owner of] the property or a piece or aggregation of property in lands or tenements and sometimes personalty,
Or maybe it is used to mean something more general or completely different? What would you propose?
Responses
6 mins
as [the owner of] the property or a piece or aggregation of property in lands or tenements and somet
as [the owner of] the property or a piece or aggregation of property in lands or tenements and sometimes personalty
1 hr
a dead person's undistributed estate
I believe that this refers to a situation where the deceased person's estate has not yet been wound up and is still being administered by a fiduciary or executor.
Discussion
(9) In the case of a member that is a corporation, the filing of articles of dissolution, or their equivalent, for the corporation or revocation of its charter or a distribution of its entire interest in the limited liability company;
(10) In the case of a member that is an estate, the distribution by the fiduciary of the estate's entire interest in the limited liability company; or
(11) In the case of a member that is a limited liability company, the filing of articles of dissolution or termination, or their equivalent, for the limited liability company or a distribution of its entire interest in the limited liability company.
(6) In the case of a member who is a natural person:
(a) His death; or
(b) The entry by a court of competent jurisdiction adjudicating him incompetent to manage his person or his estate;
(7) In the case of a member that is a trust, the termination of the trust or a distribution of its entire interest in the limited liability company but not merely the substitution of a new trustee;