(a) Inadequacy of consideration or better offer.--When a personal representative shall make a contract not requiring approval of court, or when the court shall approve a contract of a personal representative requiring approval of the court, neither inadequacy of consideration, nor the receipt of an offer to deal on other terms shall, except as otherwise agreed by the parties, relieve the personal representative of the obligation to perform his contract or shall constitute ground for any court to set aside the contract, or to refuse to enforce it by specific performance or otherwise: Provided, That this subsection shall not affect or change the inherent right of the court to set aside a contract for fraud, accident or mistake. Nothing in this subsection shall affect the liability of a personal representative for surcharge on the ground of negligence or bad faith in making a contract.
(b) Brokers' commissions.--When a personal representative shall enter into an agreement of sale of real estate in good faith, which is not binding under subsection (a) of this section and which is set aside upon receipt of a higher offer for such real estate, he shall not be relieved from the payment of real estate broker or broker's commissions to the broker who had procured such agreement of sale, and in the event that more than one real estate broker is entitled to commissions for said agreements of sale, then such commissions shall be equally divided between or among such real estate brokers: Provided further, That the total aggregate commission paid as a percentage of the gross consideration of the final sale shall in no event exceed a fair commission for a single sale of the property involved.
(Dec. 10, 1974, P.L.867, No.293, eff. imd.)
1974 Amendment. Act 293 amended subsec. (b).
Cross References. Section 3360 is referred to in sections 5153, 5521 of this title.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 33 - Administration and Personal Representatives
Section 3301 - Duty of personal representative
Section 3303 - Supplemental inventory
Section 3304 - Claims against personal representative
Section 3305 - Objections to inventory
Section 3311 - Possession of real and personal estate; exception
Section 3312 - Renunciation of right to administer property
Section 3313 - Liability insurance
Section 3314 - Continuation of business
Section 3315 - Incorporation of or formation of entity to operate estate's business
Section 3316 - Investment of funds
Section 3317 - Claims against co-fiduciary
Section 3318 - Revival of judgments against personal representative
Section 3320 - Voting stock by proxy
Section 3322 - Acceptance of deed in lieu of foreclosure
Section 3323 - Compromise of controversies
Section 3324 - Death or incapacity of fiduciary
Section 3325 - Administrator C.T.A
Section 3326 - Administrator D.B.N. and D.B.N.C.T.A
Section 3327 - Surviving or remaining personal representatives
Section 3328 - Disagreement of personal representatives
Section 3329 - Effect of revocation of letters, probate of will, later will or codicil
Section 3330 - Notice of devise or bequest to corporation or association
Section 3331 - Liability of personal representative on contracts
Section 3332 - Inherent powers and duties
Section 3354 - Power given in governing instrument
Section 3355 - Restraint of sale
Section 3356 - Purchase by personal representative
Section 3357 - Title of purchaser
Section 3358 - Collateral attack
Section 3359 - Record of proceedings; county where real estate lies
Section 3360 - Contracts, inadequacy of consideration or better offer; brokers' commissions
Section 3371 - Actions which survive
Section 3372 - Substitution of personal representative in pending action or proceedings
Section 3373 - Action by or against personal representative
Section 3374 - Death or removal of fiduciary
Section 3375 - Abatement of action for failure to take out letters
Section 3376 - Limitations against debt due estate
Section 3377 - Execution on judgments
Section 3381 - Liens and charges existing at death not impaired
Section 3382 - Judgments which are liens at death
Section 3383 - Statutes of limitations; claims not barred at death
Section 3384 - Notice of claim
Section 3384.1 - Notice after settlor of revocable trust has died
Section 3385 - Limitation upon claims
Section 3386 - Failure to present claim at audit
Section 3387 - Claims not due; certain to become due
Section 3388 - Claims not certain to become due
Section 3389 - Claims subject to litigation in other courts
Section 3390 - Specific performance of contracts
Section 3391 - Proceeding against personal representative
Section 3392 - Classification and order of payment
Section 3393 - Notice to Commonwealth and political subdivisions