75-2-606 - Nonademption of specific devises -- Unpaid proceeds of sale, condemnation, or insurance -- Sale by conservatory or agent. - Utah Statutes

75-2-606. Nonademption of specific devises -- Unpaid proceeds of sale,condemnation, or insurance -- Sale by conservatory or agent.
(1) A specific devisee has a right to the specifically devised property in the testator'sestate at death and:
(a) any balance of the purchase price, together with any security agreement, owing from apurchaser to the testator at death by reason of sale of the property;
(b) any amount of a condemnation award for the taking of the property unpaid at death;
(c) any proceeds unpaid at death on fire or casualty insurance on or other recovery forinjury to the property;
(d) property owned by the testator at death and acquired as a result of foreclosure, orobtained in lieu of foreclosure, of the security interest for a specifically devised obligation;
(e) real or tangible personal property owned by the testator at death which the testatoracquired as a replacement for specifically devised real or tangible personal property; and
(f) unless the facts and circumstances indicate that ademption of the devise was intendedby the testator or ademption of the devise is consistent with the testator's manifested plan ofdistribution, the value of the specifically devised property to the extent the specifically devisedproperty is not in the testator's estate at death and its value or its replacement is not covered bySubsections (1)(a) through (e).
(2) If specifically devised property is sold or mortgaged by a conservator or by an agentacting within the authority of a durable power of attorney for an incapacitated principal, or if acondemnation award, insurance proceeds, or recovery for injury to the property are paid to aconservator or to an agent acting within the authority of a durable power of attorney for anincapacitated principal, the specific devisee has the right to a general pecuniary devise equal tothe net sale price, the amount of the unpaid loan, the condemnation award, the insuranceproceeds, or the recovery.
(3) The right of a specific devisee under Subsection (2) is reduced by any right thedevisee has under Subsection (1).
(4) For the purposes of the references in Subsection (2) to a conservator, Subsection (2)does not apply if after the sale, mortgage, condemnation, casualty, or recovery, it was adjudicatedthat the testator's incapacity ceased and the testator survived the adjudication by one year.
(5) For the purposes of the references in Subsection (2) to an agent acting within theauthority of a durable power of attorney for an incapacitated principal:
(a) "incapacitated principal" means a principal who is an incapacitated person;
(b) no adjudication of incapacity before death is necessary; and
(c) the acts of an agent within the authority of a durable power of attorney are presumedto be for an incapacitated principal.

Amended by Chapter 324, 2010 General Session