The Probate Court may, with the consent in writing of both parties, arbitrate between a complainant and a personal representative, or between a personal representative and a person against whom the estate represented by him has a claim, or, with like consent, may refer the matter in dispute to an arbitrator. If reserved by the parties in their submission, exception as to matters of law may be filed to the award of the arbitrator, and the court may confirm or overrule the award. The award when confirmed is conclusive between the parties.
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