In Re Estate of Ruby Smith

This appeal arises from the sale of certain real property by a custodian for the benefit of two minor children pursuant to the Tennessee Uniform Transfers to Minors Act. The custodian sold the property without having it appraised, hiring a real estate agent, or listing the property for sale on the open market. Rather, the custodian reviewed an appraisal published by the county’s property assessor and then sold the property for a price slightly exceeding the listed value. The children’s mother filed a lawsuit on their behalf, alleging that the custodian breached his fiduciary duty of care. The trial court determined that the mother failed to prove that allegations and dismissed the case. The mother appeals. We affirm.