A personal representative shall not purchase property of the estate unless sold at public sale and approved by the court after a hearing on confirmation of the sale, notice of the hearing having been given to the distributees, and then only if the personal representative is a spouse, parent, descendant, brother, or sister of the decedent, or at the time of the sale is, and at the time of the death of the decedent was, the owner of an interest in the property.
Ark. Code Ann. § 28-51-106
Purchase by personal representative
Applied in 1 court decision — leading case Bullock v. Barnes (2006)
Most recently applied in Bullock v. Barnes (May 2006)
Acts 1949, No. 140, § 131; A.S.A. 1947, § 62-2708.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.