Unless otherwise directed by the will and unless the specific personal property is the subject of a bequest, the personal representative of a testate or intestate estate may, in the personal representative's discretion, sell the personal property of the decedent at public or private sale, for cash or on terms, in such manner and for such prices as the personal representative may deem advisable; but the personal representative shall not make a private sale to the personal representative, to business associates, to members of the personal representative's immediate family or to their agents without court approval or the written consent of all residuary distributees of the estate. The personal representative may employ persons or firms to conduct the sale and shall receive credit for all reasonable expenses of the sale in the final accounting.
Code 1858, §§ 2243-2245 (deriv. Acts 1723, ch. 10, § 2; 1797, ch. 7, § 5); Shan., §§ 3979-3981; mod. Code 1932, §§ 8191-8193; T.C.A. (orig. ed.), §§ 30-503 — 30-505; Acts 1985, ch. 140, § 12.
Structure 2021 Tennessee Code
Title 30 - Administration of Estates
Chapter 2 - Management, Settlement and Distribution
Part 3 - Inventory and Management
§ 30-2-301. Making Inventory — Return — Notice to Beneficiaries
§ 30-2-302. Recording of Inventory
§ 30-2-303. Sale of Decedent's Effects
§ 30-2-305. Debts Chargeable Against All Assets
§ 30-2-306. Notice to Creditors of Qualification of Personal Representative
§ 30-2-308. Triplicate Copies of Pleadings as Claims
§ 30-2-309. Statute of Limitations Arrested by Filing Claim
§ 30-2-311. Waiver of Filing Small Claims — Payment
§ 30-2-312. Entry of Claim by Clerk — Fees — Notice
§ 30-2-316. Judgment on Claims Where No Exceptions Filed
§ 30-2-317. Priority of Claims — Payment — Contested or Unmatured Claims
§ 30-2-318. Payment of Claims Prior to Time Fixed for Payment
§ 30-2-319. Time for Payment of Claims
§ 30-2-320. Pending Actions Considered Legally Filed Demands — Manner of Revival