(a) A personal representative of an estate who rents estate property with an appraised value of $3,000 or more shall, not later than the 30th day after the date the property is rented, file with the court a sworn and written report stating:
(1) the property rented and the property's appraised value;
(2) the date the property was rented and whether the rental occurred at public auction or privately;
(3) the name of each person renting the property;
(4) the rental amount; and
(5) whether the rental was for cash or on credit and, if on credit, the length of time, the terms, and the security received for the credit.
(b) A personal representative of an estate who rents estate property with an appraised value of less than $3,000 may report the rental in the next annual or final account that must be filed as required by law.