Hocking Valley Ry. Co. v. White

Citations

• 87 Ohio St. (N.S.) 413

Syllabus

<p>Sole devisee appointed executor — Sells land in individual capacity— Must apply proceeds to pay debts of testator, when — Must account for full value of sale — ■Duty of personal representative of deceased executor to compel accounting — Law governing trust property.</p> <p>1. Where the sole devisee of lands is appointed executor of the will of the testator and sells such lands in his individual capacity as devisee, the proceeds of the sale come into his hands as executor, and where the personal estate is insufficient to pay the debts of the testator, he must apply the proceeds of the sale of such lands to the payment thereof.</p> <p>2. Where such lands are sold at private sale for their full value, the executor must account for the total amount of the purchase price received by him, if necessary for the payment of debts. If sold for less than the full value, he must, nevertheless, account for the full value thereof.</p> <p>3. Where the executor dies or resigns without filing any account of the administration of his trust, it is the duty of his successor in the trust to compel an accounting and payment to him of any balance due from such executor to said estate.</p> <p>4. Where an executor dies without filing any account of the administration of his trust, it is the duty of his personal representative to file an account for him and pay over to the successor in the trust any balance that may be found due the estate from the deceased executor.</p>