Last Updated
：2025/11/29
privileged debt
（ plural ）
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(law, finance) A debt to which a preference in payment is given out of the estate of a deceased or insolvent person.
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privileged debt
After the executor reviewed the estate's liabilities, he confirmed that the funeral expenses qualified as a privileged debt and would be paid first.
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After the executor reviewed the estate's liabilities, he confirmed that the funeral expenses qualified as a privileged debt and would be paid first.
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