Powers of Personal Representatives to Grant Options, Final Report 2
In common law, a personal representative has no power to grant an option to purchase property comprised in an estate, unless such power is conferred by the terms of a will. We recommend, therefore, that, subject to certain limitations, the Wills Act be amended so as to provide that where any power to sell real property is imposed or conferred upon a personal representative by the terms of a will, such authority should, in the [...]