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§ 3314. This section is amended to specify that the court must give due regard to the
provisions of the governing instrument and any other factor that the court
deems relevant before authorizing the personal representative to continue any
business of the estate for the benefit of the estate. Paragraph (1) is amended to
include “partnership, limited liability company or other entity.” New
paragraph (4.1) is added to specify that the order may provide “for the
compensation of a personal representative actively managing, supervising or
engaging in the operation of an entity or business, from the estate’s assets or
from the entity or business, as appropriate, provided the compensation is
reasonably based upon the actual responsibilities assumed and performed.” 32
§ 3315. This section is amended to specify that the court must give due regard to the
provisions of the governing instrument and any other factor that the court
deems relevant before authorizing the personal representative to organize or
form a business entity. This section is also amended to include references to
“a partnership, limited liability company or other entity.” 33
§ 3546. This section is rewritten for organizational purposes and contains a new
provision authorizing a nonprofit corporation organized for community
development purposes or a municipality in which the real estate is located to
petition to establish title to the decedent’s real estate. New subsection (b)(2)
specifies that this petition must be in the manner that the court prescribes and
is permitted only upon a showing by clear and convincing evidence that no
heirs or devisees exist or have taken action with respect to the real estate for at
least five years since the decedent’s death. New subsection (d) requires notice
of the petition to be given to the personal representative of the decedent if
letters testamentary or letters of administration have been granted on the estate
of the decedent. 34
§ 5603. Subsection (e) is amended to change the reference from § 6103 to § 6103.1. 35
§ 6103. This section, concerning the release or disclaimer of powers or interests, is
repealed and replaced by new § 6103.1. 36
32 Infra pp. 43-44.
33 Infra p. 44.
34 Infra pp. 33-36.
35 Infra p. 69.
36 Infra pp. 45-46.
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