29A-2-606. Nonademption of specific devises--Unpaid proceeds of sale, condemnation, or insurance--Sale by conservator or agent.

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A specific devisee has a right to the specifically devised property in the testator's estate at death and:

(1)Any balance of the purchase price, together with any security agreement, owing from a purchaser to the testator at death by reason of sale of the property;

(2)Any amount of a condemnation award for the taking of the property unpaid at death;

(3)Any proceeds unpaid at death on fire or casualty insurance on or other recovery for injury to the property;

(4)Property owned by the testator at death and acquired as a result of foreclosure, or obtained in lieu of foreclosure, of the security interest for a specifically devised obligation;

(5)Property owned by the testator at death if it is evident from the circumstances that the testator intended the property to be distributed as a replacement for specifically devised property.

(b)If specifically devised property is sold or mortgaged by a conservator or by an agent acting within the authority of a durable power of attorney for a principal who lacks capacity, or if a condemnation award, insurance proceeds, or recovery for injury to the property are paid to a conservator or to an agent acting within the authority of a durable power of attorney for a principal who lacks capacity, the specific devisee has the right to a general pecuniary devise equal to the net sale price, the amount of the unpaid loan, the condemnation award, the insurance proceeds, or the recovery. The right of a specific devisee under this subsection is reduced by any right the devisee has under subsection (a). For purposes of this subsection, the acts of an agent within the authority of a durable power of attorney are presumed to be for a principal who lacks capacity.