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12-1.3 - Extent of Liability; Judgment Debtor's Right to Indemnity and Contribution

NY Est Pow & Trusts L § 12-1.3 (2019) (N/A)
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(a) Although subject, under paragraph (a) of 12-1.1, to a judgment in the full amount of the value of any property received by him, which may exceed his ratable obligation as described herein, the maximum liability to which a distributee or testamentary beneficiary is subject under this article is his ratable obligation, in the proportion that the value of the decedent's property passing to him bears to the value of all such property passing to distributees or beneficiaries, as the case may be, within the same order of liability as his under paragraph (a) of 12-1.2.

(b) Any person against whom a judgment is obtained under this article, upon payment thereof, is entitled:

(1) To be indemnified by any person prior to liability to him under paragraph (a) of 12-1.2, who remains liable under this article but against whom recovery was not available for a reason set forth in subparagraph (b) (2) of 12-1.1.

(2) To contribution, for any sum paid in excess of his ratable obligation as described in paragraph (a), from any person within the same order of liability as his under paragraph (a) of 12-1.2, but only to the extent that such person's ratable obligation is unpaid.

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12-1.2 - Order of Liability; Preferences
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