Protection of persons dealing in good faith
Sec. 12.5. A person who in good faith either assists a personal
representative or deals with him for value is protected as if the
personal representative properly exercised his power. The fact that
a person knowingly deals with a personal representative does not
alone require the person to inquire into the existence of a power or
the propriety of its exercise. No provision in any will or order of
court purporting to limit the power of a personal representative is
effective except as to persons with actual knowledge thereof. A
person is not bound to see to the proper application of estate assets
paid or delivered to a personal representative. The protection here
expressed extends to instances in which some procedural irregularity
or jurisdictional defect occurred in proceedings leading to the
issuance of letters, including a case in which the alleged decedent is
found to be alive. The protection here expressed is in addition to that
provided by comparable provisions of the laws relating to
commercial transactions and laws simplifying transfers of securities
by fiduciaries.
As added by Acts 1977, P.L.297, SEC.3.
Last modified: May 27, 2006