Michigan Laws 700.5419 – Conservators; title by appointment
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(1) Appointment of a conservator vests in the conservator title as trustee to all of the protected individual‘s property, or to the part of that property specified in the order, held at the time of or acquired after the order, including title to property held for the protected individual by a custodian or attorney-in-fact. An order specifying that only a part of the protected individual’s property vests in the conservator creates a limited conservatorship.
(2) Except as otherwise provided in this act, the protected individual’s interest in property vested in a conservator by this section is not transferable or assignable by the protected individual. Though ineffective to affect property rights, an attempted transfer or assignment by the protected individual may generate a claim for restitution or damages that, subject to presentation and allowance, may be satisfied as provided in section 5429.
Terms Used In Michigan Laws 700.5419
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Claim: includes , but is not limited to, in respect to a decedent's or protected individual's estate, a liability of the decedent or protected individual, whether arising in contract, tort, or otherwise, and a liability of the estate that arises at or after the decedent's death or after a conservator's appointment, including funeral and burial expenses and costs and expenses of administration. See Michigan Laws 700.1103
- Conservator: means a person appointed by a court to manage a protected individual's estate. See Michigan Laws 700.1103
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- Proceeding: includes an application and a petition, and may be an action at law or a suit in equity. See Michigan Laws 700.1106
- Property: means anything that may be the subject of ownership, and includes both real and personal property or an interest in real or personal property. See Michigan Laws 700.1106
- Protected individual: means a minor or other individual for whom a conservator has been appointed or other protective order has been made as provided in part 4 of article V. See Michigan Laws 700.1106
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
(3) Property vested in a conservator by this section and the protected individual’s interest in that property is not subject to levy, garnishment, or similar process other than an order issued in the protective proceeding made as provided in section 5429.