Notice of the sale of personal property at private sale shall be published one time at least ten (10) days prior to said sale and a copy of the notice of said sale shall be mailed to all heirs, legatees and devisees whose addresses are known at least ten (10) days prior to said sale. Said notice shall contain a brief description of the personal property to be sold and shall set a date on or after which the sale will be made and the place where offers or bids will be received. The executor or administrator after making a sale of personal property at private sale shall, except as provided in Section 387 of this title, file a sworn return of his proceedings in the court. The court shall fix the date for hearing such return and notice of said hearing shall be published one time at least ten (10) days prior to said hearing in the newspaper in the county and a copy of said notice shall be mailed to all heirs, legatees and devisees of the decedent whose addresses are known at least ten (10) days prior to said hearing. Said notice shall briefly describe the property sold, the sum for which it was sold, and shall refer to the return for further particulars. Upon hearing, the court shall examine the return and witnesses in relation to the same and on proper showing the court shall approve the sale. If such sale proceedings were unfair, or the sum bid disproportionate to the value of said personal property, the court shall vacate the sale and direct another to be had for which public notice must be given and the sale in all respects conducted as if no previous sale had taken place.
Laws 1979, c. 258, § 7, eff. Oct. 1, 1979.