18-A §3-713. Sale, encumbrance or transaction involving conflict of interest; voidable; exceptions - Maine Statutes

Title 18-A: PROBATE CODE

Article 3: PROBATE OF WILLS AND ADMINISTRATION

Part 7: DUTIES AND POWERS OF PERSONAL REPRESENTATIVES

§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 who has consented after fair disclosure, unless [1979, c. 540, §1 (NEW).]

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

[ 1979, c. 540, §1 (NEW) .]

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

[ 1979, c. 540, §1 (NEW) .]

SECTION HISTORY

1979, c. 540, §1 (NEW).