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Delaware Laws | Title 12 Decedents' Estates and Fiduciary Relations
CHAPTER 27. SALE OF LANDS BY EXECUTORS AND ADMINISTRATORS
Sec. 2709. Title of purchaser.

(Code 1852, Sec. 1892; Code 1915, Sec. 3426; Code 1935, Sec. 3886; 12 Del. C. 1953, Sec. 2714; 59 Del. Laws, c. 384, Sec. 1; 70 Del Laws, c. 186, Sec. 1.) (2900)

Sec. 2710. Application of proceeds of sale; order of payment of debts. (2901)(Text)

The purchase money of a sale, made by authority of this chapter (all just charges to be allowed by the Court of Chancery, being first deducted), shall be applied to outstanding debts against the decedent in the following order: (2902)

(1) First Class. -- To judgments against the decedent, which, before the sale, were liens on the premises sold, and to recognizances and mortgages entered into or executed by the decedent with condition for the payment of money or interest, absolutely, and not dependent on a contingency, and which, before the sale, were liens on the premises sold; such judgments, recognizances and mortgages shall be of equal grade, but shall be preferred in payment according to the legal priority of their lien respectively; and if in an action or proceeding upon a recognizance, obligation or mortgage entered into or executed by the decedent with other condition than for the absolute payment of money or interest (but which was by its own force or legal effect, without judgment thereon, a lien on the premises sold), a sum shall have been assessed or ascertained as payable or recoverable by virtue thereof, and judgment or decree, at the time of the sale, has been thereupon given or pronounced, the sum so assessed or ascertained with the costs shall stand in priority, according to the date of the obligation or recognizance, or of the depositing of the mortgage duly acknowledged or proved in the proper recorder's office to be recorded, and shall be preferred in payment according to such priority; but in no other case shall the proceeds of such sale be applied or retained for the purpose of being applied to any recognizance, obligation or mortgage entered into or executed by the decedent with other condition than for the absolute payment of money or interest, in preference to, or to the postponement of, any debt outstanding against the decedent. (2903)

But no debt shall be regarded as within this class unless it was before the sale a lien on the premises sold; a sum assessed or ascertained, as mentioned, under this class, being here understood to be demandable by virtue of the mortgage, recognizance or obligation upon which the action or proceeding was instituted. (2904)

(2) Second Class. -- To other debts outstanding against the decedent, observing the same rule of priority as prescribed by Sec. 2105 of this title. (2905)

(Code 1852, Sec.Sec. 1893-1897; Code 1915, Sec. 3427; 35 Del. Laws, c. 204, Sec. 1; Code 1935, Sec. 3887; 12 Del. C. 1953, Sec. 2715; 57 Del. Laws, c. 402, Sec. 3; 59 Del. Laws, c. 384, Sec. 1.) (2906)

Sec. 2711. Disposition of surplus after paying debts. (2907)(Text)

If there is any surplus of the sale, after paying all the debts, it shall belong to the person to whom the premises sold belonged at the time of the sale, who shall have the same proportion, quantity and manner of interest in the surplus, as the person had in the premises sold; and an executor or administrator shall not detain the surplus, or any part of it, on account of any mortgage, obligation or recognizance entered into or executed by the decedent with other condition than for the absolute payment of money or interest and which was a lien on the premises sold. (2908)

(Code 1852, Sec. 1898; Code 1915, Sec. 3428; Code 1935, Sec. 3888; 12 Del. C. 1953, Sec. 2716; 59 Del. Laws, c. 384, Sec. 1; 70 Del Laws, c. 186, Sec. 1.) (2909)

Sec. 2712. Order for disposition of surplus. (2910)(Text)

The Court of Chancery, upon the petition of an executor or administrator, shall give direction for the payment or disposal of the surplus. (2911)

(Code 1852, Sec. 1899; Code 1915, Sec. 3429; Code 1935, Sec. 3889; 12 Del. C. 1953, Sec. 2717; 57 Del. Laws, c. 402, Sec. 3; 59 Del. Laws, c. 384, Sec. 1.) (2912)

Sec. 2713. Bond to be given by executor or administrator before executing order of sale. (2913)(Text)

Every executor or administrator before proceeding to execute an order of sale shall, in the Court of Chancery, with 1 or more sufficient sureties to be approved by the Court, enter into bond to the State in a penal sum to be determined by the Court, with condition, in substance to account truly for all money to arise from the sale, and (the just charges to be allowed by the Court being first deducted) to apply all the balance thereof to the payment of the outstanding debts against the decedent, according to their legal priority, and to pay the surplus, if any, according to law, and to perform the executor's or administrator's duty in the premises with fidelity. (2914)

(Code 1852, Sec. 1900; Code 1915, Sec. 3430; Code 1935, Sec. 3890; 12 Del. C. 1953, Sec. 2718; 57 Del. Laws, c. 402, Sec. 3; 59 Del. Laws, c. 384, Sec. 1; 70 Del Laws, c. 186, Sec. 1.) (2915)

Sec. 2714. Purchase money payable to a successor administrator. (2916)(Text)

If a sale, made by an executor or former administrator, shall be returned by a successor administrator, the purchase money shall be payable to the latter, but such payment shall not be made nor the sale approved until the successor administrator gives bond in the Court of Chancery as prescribed in Sec. 2713 of this title; and in that case, the Court may discharge the bond of the executor or former administrator upon such terms as may be deemed proper. (2917)

(Code 1852, Sec. 1901; Code 1915, Sec. 3431; Code 1935, Sec. 3891; 12 Del. C. 1953, Sec. 2719; 57 Del. Laws, c. 402, Sec. 3; 59 Del. Laws, c. 384, Sec. 1; 70 Del Laws, c. 186, Sec. 1.) (2918)

Sec. 2715. Refund of purchase money when sale not returned or not approved. (2919)(Text)

If the purchase money arising from any sale under this chapter shall be paid to the executor or administrator before the sale is approved, the executor or administrator shall refund the same without delay if such sale is not returned or shall not be approved. If the executor or administrator does not refund the money, it shall be a breach of the condition of the bond prescribed in Sec. 2713 of this title, although the executor or administrator shall have died before the time for returning such sale, for such death shall not excuse the executor or administrator from the strict performance of the executor's or administrator's duty. (2920)

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