STANDARD NO. 704

 

 

PROBLEM:

After foreclosure by an executor or administrator of a mortgage held by the decedent:

    1. Could the executor or administrator, prior to January 1, 1981, convey good title without license from the probate court?

    2. Would acceptance of a deed in lieu of foreclosure make a difference?

    3. Would it make any difference if the mortgage had initially been made to the executor or administrator?

    4. Would the same rule apply to conservators, guardians, or testamentary trustees?

RECOMMENDATION:

    1. No, except when foreclosing by civil action, or a corporate power of sale mortgage (at which the mortgagee could bid only pursuant to probate court order).

    2. No.

    3. No.

    4. Yes.

DISCUSSION:

The authority of the unsupervised personal representative, conservator, guardian invested with powers of a conservator and testamentary trustee requires no court order after December 31, 1980.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First adopted August 25, 1960; amended June 19, 1975 and December 7, 1983. Formerly Title Standard No. 28.

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