Is it possible to loft a picture frame or an object whose path has 90 degree turns without having overlaps? Pic below, but there are overlaps in the corner:

Autodesk 3ds Max 2012 n00b

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There are too many Shape/Path Steps which is bunching up at the corners… you could try reducing the Shape/Path Steps under the Skin Parameters or possibly create this shape by hand from a Box or a Plane etc.

website: http://www.all3dmax.com

Not the best tool for the job - try the Bevel Profile modifier.

Max 4.2 through 2013.
XP-64 (SP2)
NVidia 9800GTX-512 (Driver 266.58).
Core 2 Quad Q6600 2.4GHz, 8Gb Ram, DX9.0c.

Also, to avoid the overlaps you can set the shape so the inside edge is at the Loft path, rather than the center of your shape.  But the Bevel Profile modifier is definitely the right tool for this job.

3DS Max Design 2011 64-bit - Advantage Pack
Dell Precision T5500, Dual Six Core Xeon X5650 @ 2.67GHz, nVidia Quadro 5000, 24 GB RAM, Win 7 Enterprise 64-bit
Minneapolis, MN, USA

bevel profile or sweep work well for this, also as noted in previous post, use the inside edge as you path, that way everything cleans up nicely.

3ds Max Design 2010/11/12, 64bit, Boxx technologies, dual quad core 2.8, nvidia quadro 4000, 20GB Ram, use mental ray for rendering, windows XP pro 64bit