(A) Fiduciaries shall not buy from or sell to themselves and shall not have in their individual capacities any dealings with the estate, except as expressly authorized by the instrument creating the trust and then only with the approval of the probate court in each instance. No corporate fiduciary, as defined in section 1101.01 of the Revised Code, that is not subject to examination or regulatory oversight by the superintendent of financial institutions or the comptroller of the currency shall be permitted to deal with the estate, any power in the instrument creating the trust to the contrary notwithstanding. This section does not prohibit a fiduciary from making an advancement if the advancement has been expressly authorized by the instrument creating the trust or if the probate court approves or from engaging in any act authorized by this chapter.
(B) The fiduciary may petition the court for authority to purchase property of the estate if all of the following requirements are met:
(1) Written consent to the purchase is signed by the following:
(a) Each known heir whose interest in the estate would be affected by the proposed purchase;
(b) Each known devisee whose interest in the estate would be affected by the proposed purchase.
(2) The written consents are filed with the court.
(3) The purchase is shown to be to the advantage of the estate.
(C) The court shall deliver notice of the hearing on the petition to the heirs, devisees, or legatees of the estate or any interested person.
Last updated September 6, 2023 at 2:40 PM
Notes of Decisions
Cited in 19
cases (3 in the last 5 years), 1957–2025 · leading case: Ollick v. Rice, 476 N.E.2d 1062 (Ohio Ct. App. 8th Dist. 1984).
Ollick v. Rice, 476 N.E.2d 1062 (Ohio Ct. App. 8th Dist. 1984). · cites it 3דThe probate court ruled that R.C. 2109.44, which prohibits self-dealings by an estate fiduciary, is equally applicable to the attorney employed by that fiduciary.”
Est. of Karder, 2011-Ohio-3229. · cites it 5ד24 AND R.C. §2109.44.” Stark County App. Case No.”
Whitaker v. Est. of Whitaker, 663 N.E.2d 681 (Ohio Ct. App. 4th Dist. 1995). · cites it 2דThe appellant replied that this distribution was really a loan, which he repaid to the estate with interest in the amount of $7,000.”
Verhoff v. Verhoff, 2019-Ohio-3836. · cites it 23דThis statute reads, in its relevant part, as follows: (A) Fiduciaries shall not buy from or sell to themselves and shall not have in their individual capacities any dealings with the estate, except as expressly authorized by the instrument creating the trust and then only with…”
Off. of Disciplinary Couns. v. Kurtz, 693 N.E.2d 1080 (Ohio 1998). · cites it 2דMoreover, even if the transfers were “loans,” they were not authorized or approved as R.C. 2109.44 and prudent fiduciary administration require.”
Thomas v. Delgado, 2022-Ohio-4235, 201 N.E.3d 1021. “See also R.C. 2109.44. “This rule applies to both transfers made to the attorney-in-fact and gifts to third parties.”
Cleveland Trust Co. v. Eaton, 256 N.E.2d 198 (Ohio 1970). · cites it 2ד“(G-) This section does not authorize a trust company acting as a probate fiduciary to perform any act prohibited by Section 2109.44 of the Revised Code, unless such act is essential to the exercise of an authority expressly granted by this section.”
Walters v. Wannemacher, 217 N.E.2d 695 (Ohio Ct. App. 3d Dist. 1964). · cites it 4דHowever, regardless of thel price set by a testator, or of the formula to determine price, so long as the beneficiary of the option is the executor the laws of Ohio (Section 2109.44, Revised Code) require the purchase and sale authorized by the will to be approved by the court:…”
Cartwright v. Batner, 2014-Ohio-2995, 15 N.E.3d 401. “In a related context, R.C. 2109.44(A) states that “Fiduciaries shall not buy from or sell to themselves and shall not have in their individual capacities any dealings with the estate, except as expressly authorized by the instrument creating the trust and then only with the…”
Huntington Nat'l Bank v. Wolfe, 651 N.E.2d 458 (Ohio Ct. App. 10th Dist. 1994). “R.C. 2109.44, which prohibits self-dealing, makes an exception with respect to an individual fiduciary acting in his individual capacity if expressly authorized by the instrument creating the trust.”
Trangenstein v. Wheaton Coll. Bd. of Trs., 773 N.E.2d 602 (Ohio Ct. App. 2d Dist. 2002). “” {¶ 17} Trangenstein argues that Wheaton College is in the position of a trustee of the funds bequeathed to it by her late aunt, and that its annuity *386 therefore amounts to self-dealing with estate assets, which is prohibited by R.C. 2109.44. Trangenstein also argues that,…”
Disciplinary Couns. v. Kurtz, 82 Ohio St. 3d 55 (1998). · cites it 4ד{¶ 8} Moreover, even if the transfers were “loans,” they were not authorized or approved as R.C. 2109.44 and prudent fiduciary administration require.”
Cartwright v. Batner, 2014-Ohio-2995, 15 N.E.3d 401. “In a related context, R.C. 2109.44(A) states that “Fiduciaries shall not buy from or sell to themselves and shall not have in their individual capacities any dealings with the estate, except as expressly authorized by the instrument creating the trust and then only with the…”
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