Brockenbrough v. Turner

Citations

• 78 Va. 438
• 1884 Va. LEXIS 20

Syllabus

<p>1. Executors and Administrators-Title to assets.-Legal title to testator’s assets in executor’s hands for administration, whencesoever arisen, is in executor.</p> <p>2. Idem-Purchasers.-Bona fide purchaser for value of assets acquires good title thereto, though executor commit devastavit by the sale and. conversion to his own use.</p> <p>3. Idem-Idem-Enquiry-Fraud.-Such purchaser has no adequate means of enquiry, and need not enquire whether the estate needs the sale, and is not bound to see to the application of the purchase money; he may presume the sale rightly made, and the price properly applied, and he is only bound if he fraudulently collude in the devastavit.</p> <p>4. Idem-Idenp-Onus probandi.&emdash;Where executor sells bonds at heavy discount, or with them pays his own debts, the burden rests on purchaser to show either that the estate needed the sale or that the bonds had become executor’s individual property by reason of his advances to the estate or legatees, or had accounted for them.</p> <p>5. Idem-Idem-Rule.-The rule is that if executor sells the assets at such gross undervalue as makes it apparent he intends a devastavit, the purchaser buys at his peril, and should make the necessary enquiries.</p> <p>6. Case at Bar.-Here B for full value buys bona fide certain bonds of solvent executor, who had become owner of three-fifths of the estate. Here, also, H, under samé circumstances, bought for full value other bonds of executor, but took said bonds to pay debt due himself from the executor individually, the aggregate of the bonds being less than executor’s share of the estate.</p> <p>Held ;</p> <p>Under the circumstances of this case neither B nor H colluded in the devastavit, and is liable therefor.</p>