30.160—What may be purchased at probate?
An eligible purchaser may purchase, during the probate of a trust or restricted estate, all or part of the estate of a person who died on or after June 20, 2006.
(a)
Any interest in trust or restricted property, including a life estate that is part of the estate (i.e., a life estate owned by the decedent but measured by the life of someone who survives the decedent), may be purchased at probate with the following exceptions:
(1)
If an interest is included in an approved consolidation agreement, that interest may not be purchased at probate without consent of the owner of the consolidated interest; and
(2)
An interest that a devisee will receive under a valid will cannot be purchased without the consent of the devisee.
(b)
A purchase option must be exercised before a decision or order is entered and must be included as part of the order in the estate.