2025 Session Last amended: 2020 session

§ 524.5-423 — Sale, Encumbrance, or Other Transaction Involving Conflict of Interest

Plain-Language Summary

This section describes what happens when a conservatorship ends, including the conservator's duty to account for all property and distribute remaining assets.

524.5-423 SALE, ENCUMBRANCE, OR OTHER TRANSACTION INVOLVING CONFLICT OF INTEREST.

Any transaction involving the conservatorship estate which is affected by a conflict between the conservator’s fiduciary and personal interests is voidable unless the transaction is expressly authorized by the court after notice to interested persons. A transaction affected by a conflict between personal and fiduciary interests includes any sale, encumbrance, or other transaction involving the conservatorship estate entered into by the conservator, the spouse, descendant, agent, or lawyer of a conservator, or corporation or other enterprise in which the conservator has a beneficial interest.

History:

2003 c 12 art 1 s 62; 2005 c 91 s 2; 2020 c 86 art 1 s 36

History: History: 2003 c 12 art 1 s 62; 2005 c 91 s 2; 2020 c 86 art 1 s 36

Practical Notes

When a conservatorship ends, the conservator must file a final accounting and return all property to the former protected person or their estate.

Source: Minnesota Office of the Revisor of Statutes