§ 3360. Contracts, inadequacy of consideration or better offer; brokers' commissions.
(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.
Notes of Decisions
Matter of Est. of Evasew, 584 A.2d 910 (Pa. 1990).
· cites it 2× “Although I agree with the majority's interpretation of 20 Pa.C.S. § 3360(a) and the application of Estate of Hughes, supra, I find that its reliance upon Section 3360(a) is misplaced because no confidential relationship executed between the parties.”
In Re Est. of Dobson, 417 A.2d 138 (Pa. 1980).
· cites it 2× “Here, the executor entered into the contract for redemption of shares by Nordev on the basis of an erroneous deduction for income taxes and decedent’s cost basis.”
In Re Est. of Hughes, 538 A.2d 470 (Pa. 1988).
· cites it 2× “20 Pa.C.S. § 3360(a). (emphasis added). The second section provides: Restraint of Sale The court, on its own motion or upon application of any party in interest, in its discretion, may restrain a personal representative from making any sale under an authority not given by the…”
In re Est. of Hughes, 515 A.2d 581 (Pa. Super. Ct. 1986).
· cites it 2× “Rather, we believe that 20 Pa.C.S. § 3360 sets forth the general rule regarding subsequent offers without removing from the Orphans’ Court all power to restrain an improvident sale where, in the exercise of the court’s discretion, such action is necessary to protect an asset of…”
— 20 Pa. Cons. Stat. § 3360(a) — 4 cases
Matter of Est. of Evasew, 584 A.2d 910 (Pa. 1990).
“Although I agree with the majority's interpretation of 20 Pa.C.S. § 3360(a) and the application of Estate of Hughes, supra, I find that its reliance upon Section 3360(a) is misplaced because no confidential relationship executed between the parties.”
In Re Est. of Hughes, 538 A.2d 470 (Pa. 1988).
“20 Pa.C.S. § 3360(a). (emphasis added). The second section provides: Restraint of Sale The court, on its own motion or upon application of any party in interest, in its discretion, may restrain a personal representative from making any sale under an authority not given by the…”
In Re Est. of Dobson, 417 A.2d 138 (Pa. 1980).
“Here, the executor entered into the contract for redemption of shares by Nordev on the basis of an erroneous deduction for income taxes and decedent’s cost basis.”
In re Est. of Hughes, 515 A.2d 581 (Pa. Super. Ct. 1986).
“Rather, we believe that 20 Pa.C.S. § 3360 sets forth the general rule regarding subsequent offers without removing from the Orphans’ Court all power to restrain an improvident sale where, in the exercise of the court’s discretion, such action is necessary to protect an asset of…”
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