75-3-713. Persons dealing with personal representative -- Protection.
A person who in good faith either assists a personal representative or deals with him for
value is protected as if the personal representative properly exercised his power. The fact that a
person knowingly deals with a personal representative does not alone require the person to inquire
into the existence of a power or the propriety of its exercise. Except for restrictions on powers of
supervised personal representatives which are endorsed on letters as provided in Section
75-3-504, no provision in any will or order of court purporting to limit the power of a personal
representative is effective except as to persons with actual knowledge thereof. A person is not
bound to see to the proper application of estate assets paid or delivered to a personal
representative. The protection here expressed extends to instances in which some procedural
irregularity or jurisdictional defect occurred in proceedings leading to the issuance of letters,
including a case in which the alleged decedent is found to be alive. The protection here expressed
is not by substitution for that provided by comparable provisions of the laws relating to
commercial transactions and laws simplifying transfers of securities by fiduciaries.
Enacted by Chapter 150, 1975 General Session
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Last revised: Thursday, May 28, 2009