Изображения страниц
PDF
EPUB

What the order of sale must contain.

necessary, for any of the causes mentioned in this Article, or if such sale be assented to by all the persons interested, an order must be made to sell the whole, or so much and such parts of the real estate described in the petition, as the Court shall judge necessary or beneficial.

1544. (§ 163.) The order of sale must describe the lands to be sold and the terms of sale, which may be for cash, or on a credit not exceeding one year, payable in gross or in installments, and in such kind of money, with interest, as the Court may direct. The land may be sold in one parcel or in subdivisions, as the executor or administrator shall judge most beneficial to the estate, unless the Court otherwise specially directs. If it appears that any part of such real estate has been devised and not charged in such devise with the payment of debts or legacies, the Court must order the remainder to be sold before that so devised. May be at Every such sale must be ordered to be made at public

public or

private

sale.

Interested

persons

for order of sale.

auction, unless, in the opinion of the Court, it would benefit the estate to sell the whole or some part of such real estate at private sale; the Court may, if the same is asked for in the petition, order or direct such real estate or any part thereof to be sold at either public or private sale, as the executor or administrator shall judge to be most beneficial for the estate. If the executor or administrator neglects or refuses to make a sale under the order and as directed therein, he may be compelled to sell, by order of the Court, made on motion, after due notice, by any party interested.

1545. (§ 164.) If the executor or administrator may apply neglects to apply for an order of sale when it is necessary, any person may make application therefor, in the same manner as the executor or administrator, and notice thereof must be given to the executor or admin

petition.

istrator, before the hearing. The petition of such Form of applicant must contain as many of the matters set forth in Section 1537 as he can ascertain, and the decree of sale must fix the period of time within which the executor or administrator must make the sale.

copy of

order to

executor.

1546. (§ 165.) Upon making the order mentioned To deliver in the last section, a certified copy of the order of sale must be delivered by the Court or the Clerk to the executor or administrator, who is thereupon authorized and required to sell the real estate as directed.

sale.

1547. (§ 166.) When a sale is ordered, and is to Notice of be made at public auction, notice of the time and place of sale must be posted in three of the most public places in the county in which the land is situated, and published in a newspaper, if there be one printed in the same county, but if none, then in such paper as the Court may direct, for three weeks successively next before the sale. The lands and tenements to be sold must be described with common certainty in the notice.

place.

· 1548. (§ 167.) Sales at public auction must be Time and made in the county where the land is situated; but when the land is situated in two or more counties, it may be sold in either. The sale must be made between the hours of nine o'clock in the morning and the setting of the sun on the same day, and must be made on the day named in the notice of sale, unless the same is postponed.

.1549. (§ 167.) When a sale of real estate is ordered to be made at private sale, notice of the same must be posted up in three of the most public places in the county in which the land is situated, and published in a newspaper, if there be one printed in the same county-if none, then in such paper as the Court may

Private

sale of real

estate, how notice.

made, and

and how

received.

direct for two weeks successively next before the day on or after which the sale is to be made, in which the lands and tenements to be sold must be described with common certainty. The notice must state a day on or after which the sale will be made, and a place where offers or bids will be received. The day last referred to must be at least fifteen days from the first publication of notice, and the sale must not be made before that day, but must be made within six months thereBids, when after. The bids or offers must be in writing, and may be left at the place designated in the notice, or deliv ered to the executor or administrator personally, or may be filed in the office of the Clerk of the Probate Court, to which the return of sale must be made, at any time after the first publication of the notice, and before the making of the sale. If it is shown that it will be for the best interest of the estate, the Court or Judge may, by an order, shorten the time of notice, which shall not, however, be less than one week, and may provide that the sale may be made on or after a day less than fifteen, but not less than eight, days from the first publication of the notice, in which case the notice of sale and the sale may be made to correspond with such order.

Ninety per cent of appraised value must be offered.

1550. (§ 167.) No sale of real estate at private sale shall be confirmed by the Court, unless the sum offered is at least ninety per cent of the appraised value thereof, nor unless such real estate has been appraised within one year of the time of such sale. If it has not been so appraised, or if the Court is satisfied that the appraisement is too high or too low, appraisers must be appointed, and they must make an appraisement thereof in the same manner as in case of an original appraisement of an estate. This may be done at any time before the sale or the confirmation thereof.

money on

credit, how

1551. (§ 168.) The executor or administrator Purchase must, when the sale is made upon a credit, take the sale on notes of the purchaser for the purchase money, with a secured. mortgage on the property to secure their payment.

and setting

aside sale,

and when

resale may

be ordered.

1552. (§ 169.) The executor or administrator, Hearing after making any sale of real estate, must make a return of his proceedings to the Probate Court, which must be filed in the office of the Clerk, at any time subsequent to the sale, either in term or vacation. If the sale is made at public auction, and the return is made and filed on or before the first day of the next term thereafter, no notice is required of such return or of the hearing thereof, but the hearing may be had upon the first day of the term, or any subsequent day to which the same may be postponed. If the sale be not made at public auction, or if made at public auction a hearing upon the return of proceedings be asked for in the return, or is brought on for a hearing upon a day before the first day of the next term thereafter, or upon any other day than the first day of the next term after such sale, the Court or Judge must fix the day for the hearing, of which notice of at least ten days must be given by the Clerk, by notices posted in three public places in the county, or by publication in a newspaper, or both, as the Court or Judge shall direct, and must briefly indicate the land sold, the sum for which it was sold, and must refer to the return for further particulars. Upon the hearing, the Court must examine the return and witnesses in relation to the same, and if the proceedings were unfair, or the sum bid disproportionate to the value, and if it appear that a sum exceeding such bid at least ten per cent, exclusive of the expenses of a new sale, may be obtained, the Court may vacate the sale and direct another to be had, of which notice must be given, and the sale in all respects conducted as if no previous sale had taken place; if an offer ten per cent more in

May file objections, when and

who.

When order of confirma

tion is to be

when not.

amount than that named in the return be made to the Court in writing, by a responsible person, it is in the discretion of the Court to accept such offer and confirm the sale to such person or to order a new sale.

1553. (§ 170.) When return of the sale is made and filed any person interested in the estate may file written objections to the confirmation thereof, and may be heard thereon, when the return is heard by the Court or Judge, and may produce witnesses in support of his objections.

1554. (§ 171.) If it appears to the Court that the sale was legally made and fairly conducted, and that made, and the sum bid was not disproportionate to the value of the property sold, and that a greater sum, as above specified, cannot be obtained, or if the increased bid mentioned in Section 1552 be made and accepted by the Court, the Court must make an order confirming the sale, and directing conveyances to be executed. The sale, from that time, is confirmed and valid, and a certified copy of the order confirming it and directing conveyances to be executed must be recorded in the office of the Recorder of the county within which the land sold is situated. If, after the confirmation, the purchaser neglects or refuses to comply with the terms of sale, the Court may, on motion of the executor or administrator, and after notice to the purchaser, order a resale to be made of the property. If the amount realized on such resale does not cover the bid and the expenses of the previous sale, such purchaser is liable for the deficiency to the estate.

Convey

ances.

1555. (§ 172.) Conveyances must thereupon be executed to the purchaser by the executor or administrator, and they must refer to the orders of the Probate Court authorizing and confirming the sale of the property of the estate, and directing conveyances

« ПредыдущаяПродолжить »