Section 43-2-854 – Avoiding Conflicts of Law.
Section 43-2-854 Avoiding conflicts of law. Nothing contained in this article shall be construed to abrogate any right, authority, or discretion conferred upon a personal representative or other fiduciary under any other law. (Acts 1993, No. 93-722, p.1411, §26.)
Section 43-2-839 – Powers of Personal Representatives; in General.
Section 43-2-839 Powers of personal representatives; in general. Until termination of the appointment, a personal representative has the same power over the title to property of the estate, subject to Sections 43-2-843 and 43-2-844, that an absolute owner would have, in trust however, for the benefit of the creditors and others interested in the estate. […]
Section 43-2-840 – Improper Exercise of Power; Breach of Fiduciary Duty.
Section 43-2-840 Improper exercise of power; breach of fiduciary duty. If the exercise of power concerning the estate is improper, the personal representative is liable to interested persons for damage or loss resulting from breach of the personal representative’s fiduciary duty to the same extent as a trustee of an express trust. The rights of […]
Section 43-2-841 – Sale, Encumbrance, or Transaction Involving Conflict of Interest; Voidable; Exceptions.
Section 43-2-841 Sale, encumbrance, or transaction involving conflict of interest; voidable; exceptions. Any sale or encumbrance to the personal representative, the personal representative’s spouse, agent or attorney, or any corporation or trust in which the personal representative has a substantial beneficial interest, or any transaction which is affected by a substantial conflict of interest on […]
Section 43-2-842 – Persons Dealing With Personal Representative; Protection.
Section 43-2-842 Persons dealing with personal representative; protection. A person who, in good faith, either assists a personal representative or deals with the personal representative for value is protected as if the personal representative properly exercised the power. The fact that a person knowingly deals with a personal representative does not alone require the person […]
Section 43-2-843 – Transactions Authorized for Personal Representatives; Exceptions.
Section 43-2-843 Transactions authorized for personal representatives; exceptions. Except as restricted or otherwise provided by the will or by an order of court and subject to the priorities stated in Section 43-8-76, a personal representative, acting prudently for the benefit of the interested persons, may properly: (1) Retain assets owned by the decedent pending distribution […]
Section 43-2-844 – Transactions Authorized for Personal Representatives; Prior Court Approval.
Section 43-2-844 Transactions authorized for personal representatives; prior court approval. Unless expressly authorized by the will, a personal representative, only after prior approval of court, may: (1) Acquire or dispose of an asset, including land in this or another state, for cash or on credit, at public or private sale; and manage, develop, improve, exchange, […]
Section 43-2-845 – Powers and Duties of Successor Personal Representative.
Section 43-2-845 Powers and duties of successor personal representative. A successor personal representative has the same power and duty as the original personal representative to complete the administration and distribution of the estate, as expeditiously as possible, but a successor personal representative shall not exercise any power expressly made personal to the personal representative named […]
Section 43-2-830 – Devolution of Estate at Death; Restrictions.
Section 43-2-830 Devolution of estate at death; restrictions. (a) Upon the death of a person, decedent’s real property devolves to the persons to whom it is devised by decedent’s last will or to those indicated as substitutes for them in cases involving lapse, renunciation, or other circumstances affecting the devolution of a testate estate, or […]
Section 43-2-831 – Time of Accrual of Duties and Powers.
Section 43-2-831 Time of accrual of duties and powers. The duties and powers of a personal representative commence upon appointment. The powers of a personal representative relate back in time to give acts by the person appointed which are beneficial to the estate occurring prior to appointment the same effect as those occurring thereafter. Prior […]