75-3-712. Sale, encumbrance or transaction involving conflict of interest -- Voidable -- Exceptions.

113 words·~1 min read·/ut/title-75/chapter-3/75-3-712

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

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 the personal representative, is voidable by any person interested in the estate, except one who has consented after fair disclosure, unless:

(1)The will or a contract entered into by the decedent expressly authorized the transaction; or

(2)The transaction is approved by the court after notice to interested persons.

Amended by Chapter 30 , 1992 General Session