If no action or proceeding involving the personal representative is pending one year after the close of the estate pursuant to § 5-709 of this article or § 10-101 of this subtitle, the personal representative shall be discharged from any claim or demand of any interested person. The rights so barred do not include rights to recover from a personal representative for fraud, material mistake, or substantial irregularity. Except as provided in § 10–102 of this subtitle and § 7–308 of the Tax – General Article, the right of a person seeking to recover property improperly distributed, or the value of it, from a person to whom property has been distributed is forever barred at the later of: Three years from the death of the decedent; or One year from the time of distribution of the property. This subsection does not bar recovery of property or the value of it received as the result of the heir’s or legatee’s participation in a fraudulent distribution.