Agents did not breach their fiduciary duty by selling specifically devised land
The testatrix’s will devised the house and surrounding real estate which she had received under her second husband’s will to his son and the remainder of her estate to her children by a prior marriage.
Acting under a durable power of attorney, her children sold the undeveloped portion of the real estate to one of their children’s friends at less than the appraised value, deposited the proceeds in a joint account with themselves and the testatrix, and paid for her nursing home care from the account.
After her death, the step-son sued. In Stewart v. Sewell, 215 S.W.3d 815 ( Tenn. 2007) , the court held that the devise adeemed by extinction under the law in effect when the testatrix died and that the agents acted properly.
Posted in: