CHAPTER 463 GUARDIANSHIP OF MINORS AND ESTATES OF MINORS
Guardianships of Estates of Minors
Section 463:20
463:20 Sales and Purchase; General Procedure. –
I. The court, upon petition of the guardian of the estate or of any other person interested in the estate of the minor, may direct or license the guardian to sell, mortgage, pledge, lease or exchange any property of the guardianship estate, including goods and chattels, real estate, or wood and timber growing thereon, upon such terms as the court may order for any purpose which is in the best interests of the minor or of the minor's estate.
II. No guardian of the estate shall purchase property of the minor, or sell property of the guardian to the minor, unless the price and manner of sale are approved by the court.
III. If the court is not satisfied that the guardian has already given bond sufficient to ensure the guardian's prudent conduct in a sale and to account for the proceeds of the sale, the court shall, before granting authorization or issuing a license, require of the guardian a bond sufficient for that purpose.
IV. All sales shall be made within 2 years after the grant of a license.