No sale, mortgage or distribution of property for 1 year; exceptions. Except for the purposes of paying taxes, assessments, liens, insurance premiums, allowing claims for debts contracted by the missing person before his disappearance or to prevent the depreciation of property on account of neglect or waste, or to specifically perform contracts made by the missing person before his disappearance, no sale, mortgage or other disposition or distribution of the property of such person shall be made until the lapse of 1 year after the appointment and qualification of the executor or administrator.
Last modified: February 25, 2006