Acquisition of beneficial interest in real property of estate by
personal representative
Sec. 16.5. (a) This section applies to a supervised or an
unsupervised estate.
(b) Unless authorized by:
(1) a will;
(2) a trust;
(3) the consent of all heirs, legatees, or beneficiaries; or
(4) an adjudicated compromise agreement approved by the
court under IC 29-1-9;
any sale (including an auction sale), encumbrance, lease, or rental of
real property that is an asset of the estate is void if the sale,
encumbrance, lease, or rental of the real property causes the personal
representative to directly or indirectly acquire a beneficial interest in
the real property.
(c) This section does not prohibit a personal representative from
enforcing or fulfilling any enforceable contract or agreement:
(1) executed during the decedent's lifetime; and
(2) between the decedent and the personal representative in the
personal representative's individual capacity.
As added by P.L.238-2005, SEC.13.
Last modified: May 27, 2006