Hardee v. Cheatham

Citations

• 52 Miss. 41

Syllabus

<p>1. Executor : Income. Assets. Investment. Character of property.</p> <p>Where the testator authorized his executor to cultivate a plantation for profit, and to invest the surplus income in property, with the consent of the probate court to the investment, and the executor pursued the directions of the -will until a surplus income accumulated, with which he purchased lands, taking the deed in the names of the children of the testator, Held, that that part of the assets of the estate, upon the investment, became, and partook of the character of, real estate, and that thereafter the executor had only such power and control of it as he had over the real estate of which the testator died seized, and that it cannot be treated as personal assets for any purpose.</p> <p>2. Samis : Same : Expenses incurred by executor.</p> <p>The expenses incurred by an executor in cultivating a crop, or in other due course of his executorship, are not a charge upon the corpus of the estate. His power to charge it with the expenses of cultivating a farm extends only to the income; for such expenses he may incur a personal liability, but has no power to bind the general assets, or to charge them with that character of indebtedness.</p>