1997 Minnesota Statutes

     525.562 Appraisal.  

    Subdivision 1.  For the usual purposes of administration, 
 the inventory filed by the guardian or conservator pursuant to 
 section 525.561 shall be sufficient without any appraisal of 
 assets by court appointed appraisers in the following instances: 

    (a) Where no sale of assets is to be made, and then an 
 appraisal shall be had only as to assets which are to be sold 
 and which are not included in clause (b) below.  

    (b) As to the following assets: 

    (1) Cash or deposits in any financial institution; 

    (2) Securities, bonds or other obligations of the United 
 States government or agency thereof; and 

    (3) Securities listed on the New York Stock Exchange or the 
 American Stock Exchange, and such other securities markets as 
 may be designated by a rule of court, if the market value 
 thereof can be readily ascertained.  

    Subd. 2.  In all other instances, and in all instances 
 enumerated under clauses (a) and (b) above where an appraisal is 
 necessary for some special administrative purpose, the court 
 shall appoint two or more disinterested and qualified appraisers 
 who shall appraise the assets required to be appraised and shall 
 set down in figures after each item after deducting the 
 encumbrances, liens and charges, the net value thereof and show 
 the total amount of each class, and of all classes, and 
 forthwith deliver such inventory and appraisal certified by 
 them, to the guardian, or conservator, who shall immediately 
 file the same.  Such assets shall be appraised at the fair 
 market value thereof as of the date of the appointment of the 
 guardian or conservator or time of sale of assets as 
 circumstances may require as directed by the court.  

    Subd. 3.  The appraisers shall be allowed such reasonable 
 fees, necessary disbursements and expenses as may be fixed by 
 the court, and be paid by the guardian or conservator as 
 expenses of guardianship or conservatorship.  In fixing the fee 
 so allowed, the court shall not give any consideration to items 
 not requiring appraisal by this section, even though such assets 
 be included with other appraisable assets in an inventory and 
 appraisal filed pursuant hereto.  

    HIST: 1975 c 347 s 116