Murray's Estate

Citations

• 234 Pa. 520
• 83 A. 473
• 1912 Pa. LEXIS 681

Syllabus

<p>Decedents’ estates — Sale of real estate — Price Act — Conversion —Wills.</p> <p>1. Where a will gives no power to sell real estate, does not blend realty and personalty in such a way as to show a clear intent to create a fund and bequeath the same as money, and does not disclose an absolute necessity to sell real estate, but after the will is probated, the land is sold under proceedings instituted under the Price Act of April 18, 1853, P. L. 503, the record of which shows the necessary jurisdictional averments and the specific intent to bar contingent and vested remainders and executory devises, the fund created by the sale will be deemed real estate for the purposes of distribution.</p> <p>2. Where a testator provides: “all the rest and residue of my estate, real, personal and mixed, I direct to be divided into three equal parts or shares,” and these parts or shares are separately given to trustees for the respective parties, there is no such blending of realty and personalty as- to convert the real estate into personal estate.</p> <p>3. Authority given by a will to trustees “to make from' time to time such investments or changes in the investments of the estate and money herein given to them in trust as may become necessary, or they or the survivor of them may deem advisable,” does not in itself work a conversion of realty into personalty.</p>