Massachusetts General Laws ch. 202 sec. 26 – Property of minors sold for investment; disposition of proceeds of sale
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Section 26. If the sale is made by a person other than the guardian, the proceeds shall forthwith be paid to the guardian upon his giving to the judge of probate a bond with sufficient sureties conditioned to account for such proceeds. If there is no guardian, the proceeds shall be placed on interest or invested by the person authorized to sell the property, in like manner as is required of a guardian.
Terms Used In Massachusetts General Laws ch. 202 sec. 26
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Probate: Proving a will