TITLE 15

UNIFORM PROBATE CODE

CHAPTER 3

PROBATE OF WILLS AND ADMINISTRATION

PART 7.

DUTIES AND POWERS OF PERSONAL REPRESENTATIVES

15-3-713.  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 the personal representative, is voidable by any person interested in the estate except one (1) who has consented after fair disclosure, unless:

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

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

History:

[I.C., sec. 15-3-713, as added by 1971, ch. 111, sec. 1, p. 233.]