1. (a) If a surviving spouse has apparent title to property to which this part applies, a purchaser for value or a lender taking a security interest in the property takes the purchaser's or lender's interest in the property free of any rights of the personal representative or an heir or devisee of the decedent.

2. (b) If a personal representative or an heir or devisee of the decedent has apparent title to property to which this part applies, a purchaser for value or a lender taking a security interest in the property takes the purchaser's or lender's interest in the property free of any rights of the surviving spouse.

   A purchaser for value or a lender need not inquire whether a vendor or borrower acted properly with respect to property to which this part applies.

3. (c) The proceeds of a sale of or creation of a security interest in property to which this part applies shall be treated in the same manner as the property transferred to the purchaser for value or a lender.

[L 1973, c 132, pt of §1; gen ch 1985; am L 1987, c 283, §47]