75-3-712 - Sale, encumbrance or transaction involving conflict of interest -- Voidable -- Exceptions.
75-3-712. Sale, encumbrance or transaction involving conflict of interest --Voidable -- Exceptions.
Any sale or encumbrance to the personal representative, his spouse, agent, or attorney, orany corporation or trust in which he has a substantial beneficial interest, or any transaction whichis affected by a substantial conflict of interest on the part of the personal representative, isvoidable by any person interested in the estate, except one who has consented after fairdisclosure, unless:
(1) The will or a contract entered into by the decedent expressly authorized thetransaction; or
(2) The transaction is approved by the court after notice to interested persons.
Any sale or encumbrance to the personal representative, his spouse, agent, or attorney, orany corporation or trust in which he has a substantial beneficial interest, or any transaction whichis affected by a substantial conflict of interest on the part of the personal representative, isvoidable by any person interested in the estate, except one who has consented after fairdisclosure, unless:
(1) The will or a contract entered into by the decedent expressly authorized thetransaction; or
(2) The transaction is approved by the court after notice to interested persons.
Amended by Chapter 30, 1992 General Session