Me. Stat. tit. 18-C § 3-713

Current through 131st (2023-2024) Legislature Chapter 684

Section 3-713 - Sale, encumbrance or transaction involving conflict of interest; voidable; exceptions

Any sale or encumbrance to the personal representative, the personal representative's spouse, agent or attorney, or any corporation or trust in which the personal representative has a substantial beneficial interest, or any transaction that 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 a person who has consented after fair disclosure, unless: [2017, c. 402, Pt. A, §2(NEW); 2019, c. 417, Pt. B, §14(AFF).]

1.Express authorization by decedent. The will or a contract entered into by the decedent expressly authorized the transaction; or

[2017, c. 402, Pt. A, §2(NEW); 2019, c. 417, Pt. B, §14(AFF).]

2.Court approval. The transaction is approved by the court after notice to interested persons.

[2017, c. 402, Pt. A, §2(NEW); 2019, c. 417, Pt. B, §14(AFF).]

18-C M.R.S. § 3-713

Amended by 2019, c. 417,§ B-14, eff. 6/20/2019.

Added by 2018, c. 402,§ A-2, eff. 7/1/2019.