PART 11. 
COMPROMISE OF CONTROVERSIES



 



§560:3-1101  Effect of approval of
agreements involving trusts, inalienable interests, or interests of third
persons.  A compromise of any controversy as to admission to probate of any
instrument offered for formal probate as the will of a decedent, the
construction, validity, or effect of any governing instrument, the rights or
interests in the estate of the decedent, of any successor, or the
administration of the estate, if approved in a formal proceeding in the court
for that purpose, is binding on all the parties thereto including those unborn,
unascertained or who could not be located.  An approved compromise is binding
even though it may affect a trust or an inalienable interest.  A compromise
does not impair the rights of creditors or of taxing authorities who are not
parties to it. [L 1996, c 288, pt of §1]