|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 603
|
|
2000 LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Article - Estates and Trusts
Section 7-401(dd), 14-111, and 15-102(aa)
Annotated Code of Maryland
(1991 Replacement Volume and 1999 Supplement)
BY repealing and reenacting, without amendments,
Article - Estates and Trusts
Section 15-102(a) and (b) 15-102(b)
Annotated Code of Maryland
(1991 Replacement Volume and 1999 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Estates and Trusts
7-401.
(a) (1) In the performance of [his] A PERSONAL REPRESENTATIVE'S duties
pursuant to § 7-101 OF THIS TITLE, a personal representative may exercise all of the
power or authority conferred upon [him] THE PERSONAL REPRESENTATIVE by
statute or in the will, without application to, the approval of, or ratification by the
court.
(2) Except as validly limited by the will or by an order of court, a
personal representative may, in addition to the power or authority contained in the
will and to other common-law or statutory powers, exercise the powers enumerated
in this section.
(DD) (1) A PERSONAL REPRESENTATIVE MAY DONATE A CONSERVATION
EASEMENT ON ANY REAL PROPERTY IN ORDER TO OBTAIN THE BENEFIT OF THE
ESTATE TAX EXCLUSION ALLOWED UNDER § 2031(C) OF THE UNITED STATES
INTERNAL REVENUE CODE OF 1986, AS AMENDED, IF:
(I) (1) THE WILL DIRECTS THE PERSONAL REPRESENTATIVE TO
DONATE A CONSERVATION EASEMENT ON THE REAL PROPERTY; OR
(II) (2) EACH PERSON IN BEING INTERESTED PERSON WHO HAS
AN INTEREST IN THE REAL PROPERTY THAT WOULD BE AFFECTED BY THE
CONSERVATION EASEMENT CONSENTS IN WRITING TO THE DONATION.
(2) A PERSONAL REPRESENTATIVE WHO ACTS IN GOOD FAITH MAY NOT
BE LIABLE CIVILLY FOR A DECREASE IN THE VALUE OF THE REAL PROPERTY AS A
RESULT OF DONATING A CONSERVATION EASEMENT UNDER THIS SUBSECTION.
14-111.
(A) (1) IN THIS SECTION, "BENEFICIARY' MEANS AN ASCERTAINABLE
PERSON WHO HAS A PRESENT OR FUTURE INTEREST IN A TRUST ESTATE.
(2) "BENEFICIARY' INCLUDES:
|
|
|
|
|
|
|
|
|
|
- 3194 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
