Sec. 356.654. EXCEPTION: BEST INTEREST OF ESTATE. (a) Subject to Subsection (b), the personal representative of an estate, including an independent administrator, may purchase estate property on the court's determination that the sale is in the estate's best interest.
(b) Before purchasing estate property as authorized by Subsection (a), the personal representative shall give notice of the purchase by certified mail, return receipt requested, unless the court requires another form of notice, to:
(1) each distributee of the estate; and
(2) each creditor whose claim remains unsettled after being presented within six months of the date letters testamentary or of administration are originally granted.
(c) The court may require additional notice or allow for the waiver of the notice required for a sale made under this section.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.
Section: Previous 356.551 356.552 356.553 356.554 356.555 356.556 356.557 356.558 356.559 356.601 356.602 356.651 356.652 356.653 356.654Last modified: September 28, 2016