Indiana Code 29-3-8-5. Sale or encumbrance of guardianship property; conflicts of interest
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Sec. 5. (a) Any:
(2) other transaction involving the property that is affected by a substantial conflict between the interest of the protected person and the guardian’s personal interest;
(1) sale or encumbrance of any part of the property of a protected person to a guardian or guardian’s spouse, agent, attorney, or any corporation, trust, or other organization in which the guardian has a substantial beneficial interest; or
Terms Used In Indiana Code 29-3-8-5
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- minor: means a person less than eighteen (18) years of age. See Indiana Code 1-1-4-5
- Property: includes personal and real property. See Indiana Code 1-1-4-5
is void unless approved by the court.
(b) Every contract, sale, or conveyance executed by a protected person is void unless the protected person is a minor, in which event the contract, sale, or conveyance is voidable.
As added by P.L.169-1988, SEC.1. Amended by P.L.238-2005, SEC.15.