700.3701 Powers and duties of personal representative; commencement; accrual. Sec. 3701. A personal representative’s duties and powers commence on appointment. A personal representative’s powers relate back in time to give acts by the person appointed that are beneficial to the estate occurring before appointment the same effect as those occurring after appointment. Subject to sections […]
700.3702 Priority among different letters. Sec. 3702. A person to whom general letters are issued first has exclusive authority under the letters until the appointment is terminated or modified. If, through error, general letters are afterwards issued to another person, the first appointed representative may recover estate property in the hands of the representative subsequently […]
700.3703 General duties; relation and liability to persons interested in estate; standing to sue; accounting. Sec. 3703. (1) A personal representative is a fiduciary who shall observe the standard of care applicable to a trustee as described by section 7803. A personal representative is under a duty to settle and distribute the decedent’s estate in […]
700.3704 Personal representative to proceed without court order; exception. Sec. 3704. A personal representative shall proceed expeditiously with the settlement and distribution of a decedent’s estate and, except as otherwise specified or ordered in regard to a supervised personal representative, do so without adjudication, order, or direction of the court. However, the personal representative may […]
700.3705 Appointment of personal representative; notice requirements. Sec. 3705. (1) Not later than 28 days after a personal representative’s appointment or other time specified by court rule, the personal representative, except a special personal representative, shall give notice of the appointment to the decedent’s heirs and devisees, except those who have executed a written waiver […]
700.3706 Duty of personal representative; inventory and appraisement. Sec. 3706. (1) Within 91 days after appointment or other time specified by court rule, a personal representative, who is not a special personal representative or a successor to another representative who has previously discharged this duty, shall prepare an inventory of property owned by the decedent […]
700.3707 Employment of appraiser. Sec. 3707. The personal representative may employ a qualified and disinterested appraiser to assist in ascertaining the fair market value as of the date of the decedent’s death of property, the value of which may be subject to reasonable doubt. Different persons may be employed to appraise different kinds of property […]
700.3708 Duty of personal representative; supplemental inventory. Sec. 3708. If property not included in the original inventory comes to the knowledge of a personal representative or if the personal representative learns that the value or description indicated in the original inventory for an item is erroneous or misleading, the personal representative shall make a supplementary […]
700.3709 Duty of personal representative; possession of estate. Sec. 3709. Except as otherwise provided by a decedent’s will or by this section, a personal representative has a right to, and if necessary for purposes of administration, shall take possession or control of, the decedent’s property, except that real property or tangible personal property may be […]
700.3710 Power to avoid transfers. Sec. 3710. The property liable for the payment of unsecured debts of a decedent includes all property transferred by the decedent by any means that is in law void or voidable as against the decedent’s creditors, and subject to prior liens, the right to recover this property, so far as […]
700.3711 Powers of personal representatives generally. Sec. 3711. Until termination of the appointment, a personal representative has the same power over the title to estate property that an absolute owner would have, in trust, however, for the benefit of creditors or others interested in the estate. This power may be exercised without notice, hearing, or […]
700.3712 Improper exercise of power; breach of fiduciary duty. Sec. 3712. If the exercise or failure to exercise a power concerning the estate is improper, the personal representative is liable to interested persons for damage or loss resulting from breach of fiduciary duty to the same extent as a trustee of an express trust. The […]
700.3713 Sale, encumbrance, or transaction involving conflict of interest; voidable; exceptions; presumption; compliance with Michigan prudent investor rule; exceptions. Sec. 3713. (1) A sale, encumbrance, or other transaction involving the investment or management of estate property in which the personal representative has a substantial beneficial interest or that is otherwise affected by a substantial conflict […]
700.3714 Persons dealing with personal representative; protection. Sec. 3714. (1) 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 a power. The fact that a person knowingly deals with a personal representative does not alone require […]
700.3715 Transactions authorized for personal representatives. Sec. 3715. (1) Except as restricted or otherwise provided by the will or by an order in a formal proceeding, and subject to subsection (2) and to the priorities stated in section 3902, a personal representative, acting reasonably for the benefit of interested persons, may properly do any of […]
700.3716 Powers and duties of successor personal representative. Sec. 3716. A successor personal representative has the same powers and duties as the original personal representative to complete the administration and distribution of the estate, as expeditiously as possible, but the successor personal representative shall not exercise a power expressly made personal to the personal representative […]
700.3717 Corepresentatives; concurrence. Sec. 3717. If 2 or more persons are appointed personal corepresentatives and unless the will provides otherwise, the concurrence of all is required on an act connected with the estate’s administration or distribution. This restriction does not apply if a personal corepresentative receives and gives a receipt for property due the estate, […]
700.3718 Powers of surviving personal representative. Sec. 3718. Unless the will provides otherwise, each power exercisable by personal corepresentatives may be exercised by the 1 or more remaining personal corepresentatives after the appointment of 1 or more is terminated. Unless the will provides otherwise, if 1 of 2 or more persons nominated as personal corepresentatives […]
700.3719 Compensation of personal representative. Sec. 3719. (1) A personal representative is entitled to reasonable compensation for services performed. A personal representative may pay the personal representative’s own compensation periodically as earned without prior court approval. (2) If an attorney serves as personal representative, the attorney shall maintain time records that state the identity of […]
700.3720 Expenses in estate litigation. Sec. 3720. If a personal representative or person nominated as personal representative defends or prosecutes a proceeding in good faith, whether successful or not, the personal representative is entitled to receive from the estate necessary expenses and disbursements including reasonable attorney fees incurred. History: 1998, Act 386, Eff. Apr. 1, […]
