Section 719 – Expenses in estate litigation.
75-3-719. Expenses in estate litigation. If any personal representative or person nominated as personal representative defends or prosecutes any proceeding in good faith, whether successful or not, the personal representative is entitled to receive from the estate all necessary expenses and disbursements, including reasonable attorney fees incurred. This provision expressly applies in a will contest […]
Section 720 – Proceedings for review of employment of agents and compensation of personal representatives and employees of estate.
75-3-720. Proceedings for review of employment of agents and compensation of personal representatives and employees of estate. After notice to all interested persons, on petition of an interested person or on appropriate motion if administration is supervised, the propriety of employment of any person by a personal representative, including any attorney, auditor, investment advisor, or […]
Section 710 – Powers of personal representatives — In general.
75-3-710. Powers of personal representatives — In general. Until termination of his appointment a personal representative has the same power over the title to property of the estate that an absolute owner would have, in trust, however, for the benefit of the creditors and others interested in the estate. This power may be exercised without […]
Section 711 – Improper exercise of power — Breach of fiduciary duty.
75-3-711. 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 his fiduciary duty to the same extent as a trustee of an express trust. The rights of purchasers and […]
Section 712 – Sale, encumbrance or transaction involving conflict of interest — Voidable — Exceptions.
75-3-712. Sale, encumbrance or transaction involving conflict of interest — Voidable — Exceptions. Any sale or encumbrance to the personal representative, his spouse, agent, or attorney, or any corporation or trust in which he has a substantial beneficial interest, or any transaction which is affected by a substantial conflict of interest on the part of […]
Section 713 – Persons dealing with personal representative — Protection.
75-3-713. Persons dealing with personal representative — Protection. A person who in good faith either assists a personal representative or deals with him for value is protected as if the personal representative properly exercised his power. The fact that a person knowingly deals with a personal representative does not alone require the person to inquire […]
Section 714 – Transactions authorized for personal representatives — Exceptions.
75-3-714. Transactions authorized for personal representatives — Exceptions. Except as restricted or otherwise provided by this code, by the will or by an order in a formal proceeding and subject to the priorities stated in Section 75-3-902, a personal representative, acting reasonably for the benefit of the interested persons, may properly: (1) retain assets owned […]
Section 715 – Powers and duties of successor personal representative.
75-3-715. 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 he shall not exercise any power expressly made personal to the executor named in the will. Enacted by […]
Section 716 – Co-representatives — When joint action required.
75-3-716. Co-representatives — When joint action required. If two or more persons are appointed co-representatives and unless the will provides otherwise, the concurrence of a majority is required on all acts connected with the administration and distribution of the estate. This restriction does not apply when any co-representative receives and receipts for property due the […]
Section 717 – Powers of surviving personal representative.
75-3-717. Powers of surviving personal representative. Unless the terms of the will otherwise provide, every power exercisable by personal co-representatives may be exercised by the one or more remaining after the appointment of one or more is terminated, and if one of two or more nominated as co-executors is not appointed, those appointed may exercise […]