After the death of his father in 1412, Konrad V succeeded him in all his lands together with his older brother
Konrad IV the Elder as co-rulers, due to the minority of their younger brothers. In 1416, when all Konrad III's sons attained his majority, Konrad IV renounced to the government on behalf of Konrad V and the rest of his brothers. However, because two other brothers (
Konrad VI the Dean and
Konrad VIII the Younger), also pursued a Church career, the main beneficiaries in the government are two others laic brothers: Konrad V and
Konrad VII the White, who in 1431 co-founded in
Koźle a Minorites Cloister. In 1434 they purchased the town of
Wołczyn to Duke
Louis II of Brieg. The co-rulership was maintained until 1427, when was made the division of the Duchy: Konrad V retained the main city of
Oleśnica. Like his brothers, Konrad V fought against the
Hussites. In 1428 they tried unsuccessfully to prevent their depredations in the
Duchy of Troppau. On 4 April 1431 they raided
Gliwice, which was occupied by the Hussites and where just held religious discussions in which the Lithuanian prince Sigismund Korybut, a nephew of
Vytautas, was involved. Presumably, therefore, undertook the Hussites in 1432 a raid into the Duchy of Oleśnica, which was largely spared from them until then. Konrad V and his brothers, however, managed to defeat them at
Ścinawa. Together with his brother Konrad IV, other Piast Dukes and the cities of
Wrocław,
Świdnica and
Nysa was notarized on 13 September 1432 for the Hussites the still occupied cities of
Niemcza,
Kluczbork and
Otmuchów the amount of 10,000 groschen for damages. Their fight against the Hussites was rewarded by
Emperor Sigismund, who, in his capacity as King of Bohemia, in 1434 transfer to them the districts of
Psie Pole and
Psary. Three years later, in 1437 he confirmed to them the complete investiture of this territories by
Escheat, so that upon the death of the childless Konrad VII they could reverted to the Kingdom. Two years later, Konrad V died of the plague. The guardianship of his minor sons was taken by his brother Konrad VII. ==Marriage and issue==