The heirs are the beneficiaries of the estate, I believe the estate
itself is a separate legal person. It is certainly true that, like a
standard corporation, the individual heirs are not liable for any
liabilities of the estate, but those liabilities will reduce the assets
available for the heirs. In the original point to this thread, to the
extent that the heirs have an active role in the administration of the
estate, they are bound by the original contracts that the deceased
entered into, which includes the limitations on the size of an edition.
The individual heirs have no right as individuals to run off additional
prints from the deceased's images, because the copyrights remain with
the estate until the liabilities have been discharged.
Van
Not a lawyer or an accountant, but somehow familiar with a whole lot of
details appertaining.
On 04/02/2011 9:49 AM, Joseph Orabona wrote:
> Their heirs are not their estate. Someone's estate could be significantly in the red and have many lein holders against it, but it wont necessarily effect their heirs. All it means is that the estate wont have any money to pass on to the heirs. The heirs should not have any responsibility whenit comes to the debts or obligations of the estate.
>
> But then I'm an accountant, not a lawyer, and every state's laws are different.
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