RULE 5.350. CONTINUANCE OF UNINCORPORATED BUSINESS
OR VENTURE

(a) Separate Accounts and Reports. In the conduct of an
unincorporated business or venture, the personal representative
shall keep separate, full, and accurate accounts of all receipts and
expenditures and make reports as the court may require.

(b) Petition. If the personal representative determines it to
be in the best interest of the estate to continue an unincorporated
business or venture beyond the time authorized by statute or will,
the personal representative shall file a verified petition which shall
include:

(1) a statement of the nature of that business or
venture;
(2) a schedule of specific assets and liabilities;

(3) the reasons for continuation;

(4) the proposed form and times of accounting for that
business or venture;

(5) the period for which the continuation is requested;
and

(6) any other information pertinent to the petition.

(c) Order. If the continuation is authorized, the order shall
state:

(1) the period for which that business or venture is to
continue;

(2) the particular powers of the personal representative
in the continuation of that business or venture; and

(3) the form and frequency of accounting by that
business or venture.

(d) Petition by Interested Person. Any interested person, at
any time, may petition the court for an order regarding the
operation of, accounting for, or termination of an unincorporated
business or venture, and the court shall enter an order thereon.

Committee Notes

Rule History

1975 Revision: New rule. § 733.612, Fla. Stat.

1984 Revision: Extensive changes in rule and title. Clarifies
procedural steps to be taken by a personal representative who
determines it to be in the best interest of an estate to continue any
unincorporated business beyond the time authorized by statute.
Information required to be filed in a verified petition is specified,
and normal information to be included in a court order is listed.
Other pertinent information under (b)(6) may include provisions for
insurance of business or venture, proposed professionals to be used
in connection with such activities, how the business or venture
shall be managed, the person or persons proposed for managerial
positions, a list of all other employees, agents, or independent
contractors employed by or affiliated with the business or venture,
and proposed compensation for all such management personnel,
agents, employees, and independent contractors. Committee notes
revised and expanded.

1988 Revision: Editorial change in caption of (b). Committee
notes revised. Citation form changes in committee notes.

1992 Revision: Committee notes revised. Citation form
changes in committee notes.

2012 Revision: Committee notes revised.

Statutory Reference

§ 733.612(22), Fla. Stat. Transactions authorized for the
personal representative; exceptions.

Rule References

Fla. Prob. R. 5.020 Pleadings; verification; motions.

Fla. Prob. R. 5.040 Notice.

Fla. Prob. R. 5.041 Service of pleadings and documents.

Fla. Prob. R. 5.330 Execution by personal representative.

Fla. R. Gen. Prac. & Jud. Admin. 2.516 Service of pleadings
and documents.