§ 29A-3-714 Persons dealing with personal representative--Protection.

SD Codified L § 29A-3-714 (2019) (N/A)

Copy with citation

Copy as parenthetical citation

29A-3-714. Persons dealing with personal representative--Protection. A person who in good faith either assists a personal representative or deals with a personal representative for value is protected as if the personal representative was properly authorized to act. The fact that a person deals with a personal representative with knowledge of the representative capacity 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 § 29A-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 an alleged decedent is found to be alive.

Source: SL 1994, ch 232, § 3-714.

Previous Section

§ 29A-3-713 Sale, encumbrance, or transaction involving conflict of interest--Voidable--Exceptions.

Next Section

§ 29A-3-715 Transactions authorized for personal representatives--Exceptions.