Minnesota Session Laws - 1991, Regular Session

  

                         Laws of Minnesota 1991 

                        CHAPTER 118-S.F.No. 691 
           An act relating to probate; authorizing the court to 
          set aside certain transactions made prior to 
          establishment of a guardianship or conservatorship; 
          amending Minnesota Statutes 1990, section 525.56, by 
          adding a subdivision. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1990, section 525.56, is 
amended by adding a subdivision to read: 
     Subd. 5.  [TRANSACTION SET ASIDE.] If a ward or conservatee 
has made a financial transaction or gift or entered into a 
contract during the two-year period before establishment of the 
guardianship or conservatorship, the guardian or conservator may 
petition for court review of the transaction, gift, or 
contract.  If the court finds that the ward or conservatee was 
incompetent or subject to duress, coercion, or undue influence 
when the transaction, gift, or contract was made, the court may 
declare the transaction, gift, or contract void except as 
against a bona fide transferee for value and order reimbursement 
or other appropriate relief.  This subdivision does not affect 
any other right or remedy that may be available to the ward or 
conservatee with respect to the transaction, gift, or contract. 
    Presented to the governor May 16, 1991 
    Signed by the governor May 19, 1991, 5:35 p.m.