 Personal representative must manage property with the care that a prudent person would take of his or her own property. ▪ PC § 230 ▪ EC § 351.101.

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Presentation transcript:

 Personal representative must manage property with the care that a prudent person would take of his or her own property. ▪ PC § 230 ▪ EC §

 PR may need to sell estate property to pay debts and expenses.

 Order of property sold ▪ PC § 322B ▪ EC § Property passing by intestacy 2. Residuary property (personal first, then real) 3. General bequests (personal first, then real) 4. Specific gifts of personal property 5. Specific gifts of real property

 Court permission needed in most cases ▪ PC § 331 ▪ EC §

 Avoid hassle of getting court permission by authorizing sales in the will ▪ PC § 332 ▪ EC §  Freeman v. Tinsley – p. 141  Special rules for independent administrations ▪ PC §§ 145A & 145C ▪ EC § & Chapter 402

 Avoid self-dealing (PR cannot purchase estate assets) ▪ PC § 352 ▪ EC §  Exceptions ▪ Express permission in will ▪ Court permission if in best interest of estate ▪ PC § 352 ▪ EC §§  In re Estate of Hernandez – p. 144

 Without court permission ≤ 1 year  Must be in best interest of the estate ▪ PC § 359 ▪ EC §  With court permission > 1 year ▪ PC § 361 ▪ EC §

 PC §§  EC Chapter 358

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