MS HB700

Amends Mississippi Code Section 91-7-205 to give courts and chancellors discretion to waive estate bond requirements for executors and administrators selling land.

Allows courts or chancellors to waive all or part of the bond required when an executor or administrator sells land from an estate, provided they make adequate provision for maintenance and safety of estate assets.

Permits courts to require proceeds from land sales to be held in trust by an executor, administrator, or other qualified person and maintained as directed by the court when a bond is waived.

Retains existing provision allowing chancellors to waive bonds after the claims period expires if all beneficiaries petition the court to authorize the sale and waive the bond requirement.

Takes effect July 1, 2015.