This law allows the personal representative of an estate to trade the estate's property for different property if it benefits the estate. Before doing so, they must get approval from the court, which will set the terms and conditions for the exchange. These terms might include making or receiving a partial cash payment as part of the deal.

To get approval for an action under this law, someone like a personal representative or someone with interest in the estate must submit a petition. This petition has to include: a detailed description of the property, the details of the exchange they're planning, and proof that this exchange benefits the estate.

This law explains how notice must be given for a hearing about a petition related to probate processes. Normally, notice is given according to certain rules, but if the petition is about exchanging certain securities for others, the court can allow shorter notice or even skip the notice if there's a good reason. This decision can be made without a full court hearing.

This law states that if there's a mistake, error, or any irregularity during the proceedings related to this chapter, it won't affect or nullify those proceedings or the exchange made by an order under this chapter.