Section 600.2929 - Lands held in trust; sale by fiduciary, orders of court.
REVISED JUDICATURE ACT OF 1961 (EXCERPT)
Act 236 of 1961
600.2929 Lands held in trust; sale by fiduciary, orders of court.
Sec. 2929.
(1) Actions for equitable relief by any fiduciary seeking authority to sell any lands, tenements, or hereditaments which he is holding in trust for others may be brought in the circuit courts. If it appears to the best interest of the person for whom the lands, tenements, and hereditaments are held in trust the court may order, direct, and authorize the fiduciary to sell, grant, and convey the lands, tenements, and hereditaments at public or private sale. When approved by the circuit court, a sale made pursuant to this section passes title to the lands, tenements, and hereditaments to the purchaser.
(2) The court shall make all proper orders and directions from time to time for the management, investment, and disposition of the moneys received from the sale, and the interest and income therefrom.
History: 1961, Act 236, Eff. Jan. 1, 1963