Download as PDF
387.700 Specific powers and duties of conservator.
(1)
(2)
(3)
(4)
A conservator has all of the powers conferred herein and any additional
powers conferred by law on trustees in this state. The conservator may take
possession of the ward's real and personal property, and of all rents, incomes,
and benefits therefrom, whether accruing before or after his appointment, and
of the proceeds arising from the sale, mortgage, lease or exchange thereof.
Subject to such possession the title of all such estate and to the increment and
proceeds thereof shall be to the ward and not to the conservator. It is the duty
of the conservator to protect and preserve the estate, to retain, sell and invest it
as hereinafter provided, prosecute or defend actions, claims or proceedings in
any jurisdiction for the protection of the estate's assets, to account for it
faithfully, to perform all other duties required of him by law, and, at the
termination of the conservatorship, to deliver the assets of the ward to the
persons lawfully entitled thereto.
The conservator shall apply the money and property for the payments of debts,
taxes, claims, charges and expenses of the conservatorship and for the
support, care, maintenance and education of the ward or his dependents.
Any sale of realty of a ward shall be as provided in KRS Chapter 389A.
Any lease of mineral rights, oil and gas rights, or sale of timber owned by a
ward, or consolidation agreement, as defined by KRS 353.220, to be made on
behalf of a ward by a conservator or guardian shall require the authorization
and order of the District Court of the county where the conservator or guardian
has qualified. Such order may be given only pursuant to written motion which
contains the grounds for the motion and a description of the lease or
agreement involved.
Effective:July 15, 1986
History: Amended 1986 Ky. Acts ch. 169, sec. 1, effective July 15, 1986. -Created 1982 Ky. Acts ch. 141, sec. 21, effective July 1, 1982; and ch. 277,
sec. 3, effective July 15, 1982.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.