Summary
This document is a standstill agreement filed in a Florida probate estate between a creditor and the personal representative. The parties agreed to indefinitely suspend the statutory deadline under Fla. Stat. § 733.705(5) for the creditor to file an independent action on a claim that is largely contingent on future events. Either party may terminate the agreement upon written notice, after which the creditor has 30 days to file the independent action. The agreement illustrates the use of tolling agreements to manage contingent creditor claims in estate administration.
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Key quotations
“Given that much of the creditor claim is contingent on events that are not expected to happen for an extended period of time, the Parties believe it to be in the interests of the Claimant and the Estate to indefinitely suspend the deadline for the Claimant to file its independent action.” (1)
“the Parties agree to indefinitely suspend the time for the Claimant to file its independent action under Section 733.705(5). Either party may terminate this Agreement in writing, via mail, and email, both sent to the last addresses on file for each Party, or the Party’s counsel if the person is then represented. The Claimant shall have 30 calendar days from receipt of such mailing within which to file the independent action.” (1)
Factual background
A creditor claim has been filed in this estate. The claim is largely contingent on future events. The parties agree to suspend the deadline for filing an independent action under Florida Statutes Section 733.705(5).
Procedural history
Claimant filed a creditor claim in the Estate. The Personal Representative has or will file an objection. The parties entered into a standstill agreement to suspend the time for the Claimant to file an independent action.