What This Statute Says
This section lists a small set of specialized actions that fall under a four-year deadline: actions on the penal clause of a bond to convey real property, one partner against a copartner for settlement of accounts, and similar claims tied to particular commercial relationships.
There shall be commenced and prosecuted within four years after the cause of action accrues, and not afterward, the following actions:
A.R.S. § 12-544When This Statute Comes Into Play
Scenarios that bring this section into play:
- A surviving partner asserts an accounting claim against the deceased partner's estate.
- An estate seeks to enforce a penal bond that was supposed to secure a real property conveyance.
- A beneficiary pursues a breach of official duty claim against a former trustee or other fiduciary covered by this section.
What This Means for Arizona Families
When a family business or partnership is part of an estate, this section often controls the timeline for closing out accounts between partners. A surviving partner who waits more than four years to demand an accounting may find the claim too late.
If you serve as a personal representative for a partner who died with an unsettled partnership account, identify the surviving partner and the books of account quickly. Our FAQ on probate attorney fees and retainers touches on when to engage counsel for complex matters. The four-year deadline does not wait for the family to grieve. An Arizona probate attorney working with a business litigator can preserve the accounting right while the estate organizes the rest of administration. Pairing the partnership claim with a careful review of any buy-sell agreement often produces the cleanest path to closing the partnership and distributing the value to the family.