Reciept, Release and Refunding Agreement

[Grace_Adler]

Receipt, Release and Refunding Agreement

What is the name of your state? NC

Ok, I have this paper that my brother sent me to sign and have notarized. I just want to make sure I am understanding it before I sign it. It reads as follows..



IN THE GENERAL COURT OF JUSTICE
SUPERIOR COURT DIVISION
BEFORE THE CLERK
FILE NO. ________


RECEIPT, RELEASE AND
REFUNDING AGREEMENT


NORTH CAROLINA

______ COUNTY


IN THE MATTER OF THE ESTATE OF

___________________

Deceased.

__________________


The undersigned, (my name), acknowledges that she has recieved from (Administrator's name), Administrator of the Estate of (Deceased's name), a distribution in settlement of this Estate, this distribution being a final distribution consisting of the following:

Cash XXXX
One third interest of his car XXXX
Miscellaneous household furniture XXXX
Miscellaneous Jewelry XXXX

The undersigned agrees that in consideration of the distribution of the property described herein, and if any claims, charges or expenses (including but not limited to taxes, court costs, attorney's fees and fiduciary commissions) are payable by the personal representative out of the property hereby delivered, the undersigned will, immediately upon demand, pay over the amount thereof to the personal representative or retransfer and redeliver to the personal representative for sale and liquidation such part of the assests delivered herewith as said personal representative may demand.

This ______ day of ____, 2003.

________________
my name

Is this saying I have recieved all of the above mentioned? If that is so, I don't think I am signing it because I haven't recieved all of those things. The car hasn't even been sold yet.

The second paragraph -- I'm not even sure what that is saying. I could use some help with that too because I don't want to assume I understand it. I want to make sure I do 100%.

Thanks in advance for any responses.

 

[Dandy Don]

You are right not to sign this if you haven't received the actual items yet.

Send the personal representative a certified letter informing him that you will hold onto the form and can not legally sign it until you have officially received the listed items. Suggest that whenever he is ready to send you the items, send you a revised form that lists EXACTLY AND SPECIFICALLY what you will be receiving.

The second paragraph means that if there are any additional expenses that the personal representative didn't think of in advance (for example, if you owe some kind of tax on your share of the car), that he has the right to request payment for that from you, which is a reasonable expectation as long as he can justify his figures and doesn't ask for an outrageously large amount.

 

[Grace_Adler]

Thank you very much. I really appreciate your response. I think I'm going to hold off signing anything until this is settled.