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Minnesota Statutes Probate; Property; Estates; Guardianships; Anatomical Gifts (Ch. 524-539) § 524.5-423. Sale, encumbrance, or other transaction involving conflict of interest

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Any transaction involving the conservatorship estate which is affected by a conflict between the conservator's fiduciary and personal interests is voidable unless the transaction is expressly authorized by the court after notice to interested persons.  A transaction affected by a conflict between personal and fiduciary interests includes any sale, encumbrance, or other transaction involving the conservatorship estate entered into by the conservator, the spouse, descendant, agent, or lawyer of a conservator, or corporation or other enterprise in which the conservator has a beneficial interest.  Notwithstanding a conflict between the conservator's fiduciary and personal interests, if the protected person is a parent, child, or sibling of the conservator, the court has discretion to allow a transaction of beneficial interest to the conservator, as long as the conservator can prove that this transaction is primarily in the best interest of the protected person.

Cite this article: FindLaw.com - Minnesota Statutes Probate; Property; Estates; Guardianships; Anatomical Gifts (Ch. 524-539) § 524.5-423. Sale, encumbrance, or other transaction involving conflict of interest - last updated January 01, 2018 | https://codes.findlaw.com/mn/probate-property-estates-guardianships-anatomical-gifts-ch-524-539/mn-st-sect-524-5-423/


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