Michigan Compiled Laws 386-1998-iii-7 Part 7 Duties And Powers Of Personal Representatives (700.3701...700.3722)

• Section 700.3701 Time Of Accrual Of Duties And Powers.
  A personal representative's duties and powers commence upon appointment. A personal representative's powers relate back in time to give acts by the person appointed...
• Section 700.3702 Priority Among Different Letters.
  A person to whom general letters are issued first has exclusive authority under the letters until the appointment is terminated or modified. If, through...
• Section 700.3703 General Duties; Relation And Liability To Persons Interested In Estate; Standing To Sue; Accounting.
  (1) A personal representative is a fiduciary who shall observe the standard of care applicable to a trustee as described by section 7803. A...
• Section 700.3704 Personal Representative To Proceed Without Court Order; Exception.
  A personal representative shall proceed expeditiously with the settlement and distribution of a decedent's estate and, except as otherwise specified or ordered in regard...
• Section 700.3705 Duty Of Personal Representative; Information To Heirs And Devisees; Notice To Attorney General; Notice Of Spouse's Right To Election; Notice To Friend Of The Court.
  (1) Not later than 28 days after a personal representative's appointment or other time specified by court rule, the personal representative, except a special...
• Section 700.3706 Duty Of Personal Representative; Inventory And Appraisement.
  (1) Within 91 days after appointment or other time specified by court rule, a personal representative, who is not a special personal representative or...
• Section 700.3707 Employment Of Appraiser.
  The personal representative may employ a qualified and disinterested appraiser to assist in ascertaining the fair market value as of the date of the...
• Section 700.3708 Duty Of Personal Representative; Supplemental Inventory.
  If property not included in the original inventory comes to the knowledge of a personal representative or if the personal representative learns that the...
• Section 700.3709 Duty Of Personal Representative; Possession Of Estate.
  Except as otherwise provided by a decedent's will or by this section, a personal representative has a right to, and if necessary for purposes...
• Section 700.3710 Power To Avoid Transfers.
  The property liable for the payment of unsecured debts of a decedent includes all property transferred by the decedent by any means that is...
• Section 700.3711 Powers Of Personal Representatives Generally.
  Until termination of the appointment, a personal representative has the same power over the title to estate property that an absolute owner would have,...
• Section 700.3712 Improper Exercise Of Power; Breach Of Fiduciary Duty.
  If the exercise or failure to exercise a power concerning the estate is improper, the personal representative is liable to interested persons for damage...
• Section 700.3713 Sale, Encumbrance, Or Transaction Involving Conflict Of Interest; Voidable; Exceptions; Presumption; Compliance With Michigan Prudent Investor Rule; Exceptions.
  (1) A sale, encumbrance, or other transaction involving the investment or management of estate property in which the personal representative has a substantial beneficial...
• Section 700.3714 Persons Dealing With Personal Representative; Protection.
  (1) A person who in good faith either assists a personal representative or deals with the personal representative for value is protected as if...
• Section 700.3715 Transactions Authorized For Personal Representatives.
  Except as restricted or otherwise provided by the will or by an order in a formal proceeding, and subject to the priorities stated in...
• Section 700.3716 Powers And Duties Of Successor Personal Representative.
  A successor personal representative has the same powers and duties as the original personal representative to complete the administration and distribution of the estate,...
• Section 700.3717 Corepresentatives; Concurrence.
  If 2 or more persons are appointed personal corepresentatives and unless the will provides otherwise, the concurrence of all is required on an act...
• Section 700.3718 Powers Of Surviving Personal Representative.
  Unless the will provides otherwise, each power exercisable by personal corepresentatives may be exercised by the 1 or more remaining personal corepresentatives after the...
• Section 700.3719 Compensation Of Personal Representative.
  (1) A personal representative is entitled to reasonable compensation for services performed. A personal representative may pay the personal representative's own compensation periodically as...
• Section 700.3720 Expenses In Estate Litigation.
  If a personal representative or person nominated as personal representative defends or prosecutes a proceeding in good faith, whether successful or not, the personal...
• Section 700.3721 Employment Of Agents And Compensation Of Personal Representatives And Employees Of Estate; Proceedings For Review.
  After notice to all interested persons, on petition of an interested person, on appropriate motion if administration is supervised, or on the court's own...
• Section 700.3722 Authority Regarding Environmental Matters.
  (1) In response to an environmental concern or hazard, a personal representative may do any of the following: (a) Inspect property or the operation...

Last modified: October 10, 2016