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Can a Guardian or Conservator Sell Property of a Minor or Disabled Person Without Permission of the Court in Tennessee?

Posted on Jan 5 2014 10:23PM by Attorney, Jason A. Lee

Under Tennessee law, a guardian or conservator must obtain prior approval of the court in order to sell certain property of a minor or disabled person under the guardianship or conservatorship.  T.C.A. § 34-1-116 provides as follows:

 

(a) Except as provided in subsections (b) and (d), no property of a minor or person with a disability may be sold without prior approval of the court that appointed the fiduciary.

(b) Unless the fiduciary is holding tangible property for the benefit of a minor or person with a disability pursuant to the terms of a will, trust or other written document, the fiduciary has the authority to sell each item of tangible property with a fair market value of less than one thousand dollars ($1,000) or a motor vehicle without specific court approval…

(d) This section shall not apply to any fiduciary who is not required to file a property management plan or who has had its investment plans approved as part of its property management plan.

 

There is an exception for any item of tangible property that has a fair market value of less than $1,000.00 or for any motor vehicle.  Sales of these items can be completed without specific court approval unless it is being held pursuant to the terms of a will, trust, or other written document.

 

If you are a guardian or conservator in Tennessee, this is a very important statute to remember.  Just because you have the powers provided to you by the court does not mean that the powers are unlimited.  This statute is a reminder that certain actions still require the approval of the court.

 

Follow me on Twitter at @jasonalee for updates from the Tennessee Wills and Estates blog.

TAGS: Real Estate, Tennessee Conservatorship, Minor Children
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Jason A. Lee is a Member of Burrow Lee, PLLC. Contact Jason at 615-540-1004 or jlee@burrowlee.com for an initial consultation on wills estate planning and probate issues.

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Tennessee Wills and Estates Blog
Jason A. Lee, Member of Burrow Lee, PLLC
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Nashville, TN 37203
Phone: 615-540-1004
E-mail: jlee@burrowlee.com

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