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(a)(1) As used in this Code section, the term “court” means a probate court or superior court on appeal or transfer from a probate court.
(2) Except as provided in subsection (b) of this Code section, the personal representative nominated in the will or duly qualified so to serve and all persons whose interests would be affected may enter into a binding nonjudicial settlement agreement with respect to any matter involving a will.
(b) A nonjudicial settlement agreement shall be valid only to the extent it does not violate a material intention of the testator under Article 6 of Chapter 4 of this title and includes terms and conditions that properly could be approved by the court under Code Section 53-5-25 or other applicable law.
(c) A nonjudicial settlement agreement entered into in accordance with this Code section shall be final and binding on all parties to such agreement, including individuals not sui juris, unborn individuals, and persons unknown who are represented by a guardian who may represent and bind such parties under Code Section 53-5-25 or 53-11-2, as if ordered by a court with competent jurisdiction over the will, the estate of the decedent, and the parties.
(d) Any person bound by a nonjudicial settlement agreement under subsection (c) of this Code section may request that the court approve such agreement, determine whether the representation provided under Code Section 53-5-25 or 53-11-2 was adequate, determine whether such agreement violates a material intention of the testator under Article 6 of Chapter 4 of this title, determine whether such agreement contains terms and conditions the court properly could have approved, or make any other similar determination.
(e) If a trust designated in the will to take an interest in real or personal property would have such interest affected by the nonjudicial settlement agreement:
(1) The provisions of such agreement affecting such interest shall satisfy the requirements of Code Section 53-12-9 in order to be binding on the trust, the trustee, any trust director, and the trust beneficiaries; and
(2) A probate court not subject to Article 6 of Chapter 9 of Title 15, upon the request of any person bound by a nonjudicial settlement agreement that the court determine whether such agreement contains terms and conditions the court properly could have approved, shall enter an order transferring the proceeding to the superior court to which an appeal would lie under Code Section 5-3-2 for the determination of all questions under subsection (d) of this Code section.
(f) Entering into or petitioning a court regarding a nonjudicial settlement agreement under this Code section shall not constitute a violation of a condition in terrorem under Code Section 53-4-68.
Cite this article: FindLaw.com - Georgia Code Title 53. Wills, Trusts, and Administration of Estates § 53-5-27 - last updated April 14, 2021 | https://codes.findlaw.com/ga/title-53-wills-trusts-and-administration-of-estates/ga-code-sect-53-5-27.html
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