The court may authorize an exchange of succession property, on the petition of the succession representative, for a consideration to be paid in corporate stock or other property, or partly therein and partly in cash, if advantageous to the heirs and legatees and not prejudicial of the rights of the succession creditors.
Art. 3291.Court May Authorize Exchange
Book VI. Probate Procedure · Title III. Administration of Successions · Chapter 6. Alienation of Succession Property · Last amended 1962 · Last verified July 30, 2026
In one sentenceArticle 3291 lets a court authorize a succession representative, on petition, to exchange succession property for corporate stock or other property, or for a mix of property and cash, whenever the exchange benefits the heirs and legatees without prejudicing the succession's creditors.
Full Text of Art. 3291
Amendment History
Amended by Acts 1962, No. 92, §3.
Plain-English Summary
Not every disposal of succession property has to be for cash. Article 3291 opens Louisiana's rules for exchange -- trading succession property for other property, corporate stock, or a combination of property and cash -- rather than selling it outright and collecting the proceeds.
An exchange carries the same basic risk a private sale does: without competitive bidding to test the price, the succession could end up trading away an asset for something worth less than it should get in return. Article 3291 addresses that risk by making court authorization a condition of any exchange, granted on the petition of the succession representative.
The standard the court applies has two parts. The exchange has to be advantageous to the heirs and legatees, and it cannot be prejudicial to the rights of the succession's creditors. Both conditions have to hold; an exchange that benefits the heirs at the creditors' expense does not qualify, and neither does one that protects creditors while shortchanging the heirs and legatees who stand to inherit what remains.
Frequently Asked Questions
Can succession property be traded for other property instead of sold for cash?
Yes. Article 3291 lets a court authorize the succession representative to exchange succession property for corporate stock, other property, or a mix of property and cash.
What standard must an exchange of succession property meet?
It must be advantageous to the heirs and legatees and not prejudicial to the rights of the succession's creditors. Article 3291 requires both conditions before the court will authorize it.
Who can ask the court to authorize an exchange?
The succession representative, by petition. Article 3291 places the request in the representative's hands, subject to court approval.
Why does an exchange need court approval the way a sale does?
Because trading property away carries the same risk a sale does: without competitive bidding to test its value, the succession could receive less than the property is worth in return.
Source & verification. Article text is reproduced verbatim from
the Louisiana Code of Civil Procedure (legis.la.gov). Enacted by the Louisiana Legislature.
Last verified July 30, 2026.
· Official source
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