Section 600.3372 Division of Property Among Cestuis Que Trust in Lieu of Sale; Consent of Guardian of Minor, Insane, or Incompetent Person.

MI Comp L § 600.3372 (2019) (N/A)

Copy with citation

Copy as parenthetical citation

Sec. 3372.

When any of the persons entitled to share in the distribution of the proceeds of the sale of such trust estate is a minor, or insane, or incompetent to give his consent, or make such request, the division and distribution shall not be made without the authority of the court as aforesaid, unless the minor, insane or incompetent person has a general guardian, in which event such general guardian, upon obtaining the authority of the court appointing such guardian to consent to such division and distribution, or request that the same shall be made by the trustee, shall have the same power and authority to consent to such division and distribution or make request therefor, and agree upon a method of effecting such division and distribution as a person of full age and otherwise competent to act in the premises could do. The authority of the court appointing such guardian to give such consent, or make such request, may be obtained by such guardian filing with such court a petition showing the circumstances which it is deemed renders it to the advantage of the minor, insane or incompetent person to have such distribution or division made.

History: 1961, Act 236, Eff. Jan. 1, 1963

Previous Section

Section 600.3368 Division of Property Among Cestuis Que Trust in Lieu of Sale; Procedure When All Parties Consent.

No more sections