The Letters of Conservatorship are issued after the Conservator qualifies by the requirements set forth by the Court’s Order. The letters provide proof of the appointment and set forth any restrictions or limitations of the Conservator’s powers. Read the Letters of Conservatorship carefully and pay close attention to any restrictions imposed by the court.
You will note that most Letters of Conservatorship reflect two restrictions with regard to your authority: (1) “Real Estate not to be sold, purchased, mortgaged, pledged, or otherwise disposed of, or cause of lien to be placed on the property without prior Probate Court authority,” and (2) Assets are not to be removed from state of Michigan without prior Probate Court Authority.” These restrictions should be self-explanatory, but if you have a question about your limitations, please contact us prior to taking action.
If the estate holds real estate, any transactions related to the property must have probate court approval, which means that we must first petition for authority to sell or mortgage any property. Additionally, no movement of money or assets out of the State can be done by you as Conservator, as the Court wants to maintain control of the assets and make sure that they are handled appropriately.
A Conservator has title to the property, but does not own it. Rather, a Conservator manages it for the benefit of the individual.