Special sale of property of ward or surrender of interest therein.
1. A guardian of the estate, with prior approval of the court, may accept an offer for the purchase of the interest or estate of the ward, in real or personal property or both real and personal property, where it appears from the petition and the court determines that:
(a) The interest or estate of the ward in such property is an interest in a partnership, joint venture or closely held corporation, in which the offeror or offerors own the remaining interests in the partnership, joint venture or closely held corporation, or are offering to purchase such remaining interests.
(b) The interest or estate of the ward in such property is an undivided interest in property in which the offeror or offerors own the remaining interests in such property or are offering to purchase such remaining interests.
(c) The interest or estate of the ward to be sold or granted is an easement in or creates a servitude upon the ward’s property.
2. A guardian of the estate, with prior approval of the court, may accept an offer to surrender the interest or estate of the ward in real or personal property or both real and personal property, where it appears from the petition and the court determines that:
(a) The interest or estate of the ward is contingent or dubious.
(b) The interest or estate of the ward in such property is a servitude upon the property of another.
Last modified: February 25, 2006