Rauch's Estate

Citations

• 21 Pa. Super. 60
• 1902 Pa. Super. LEXIS 308

Syllabus

<p>Wills — Oonversion—Real estate.</p> <p>In order to work a conversion of real estate there must be either (1) a positive direction to sell, or (2) an absolute necessity to sell in order to execute the will, or (3) such a blending of real and personal estate by the testator as to clearly show that he intended to create a fund out of both real and personal estate, and to bequeath said fund as money, and that, in each of the two latter cases, an intent to convert will be implied.</p> <p>Testator directed as follows: “I will, bequeath and devise unto my executors hereinafter named, all my real and personal estate that I may die possessed of in trust and for the purposes herein named, and I hereby authorize and empower my said executors to collect all claims coming to me at my death and to make sale of all my real estate that I may die possessed of, and after such sale or sales made as aforesaid, to execute and deliver deed or deeds to the purchaser or purchasers in the same manner as I might or could do myself, one third of the purchase money to remain a lien on the real estate, the interest thereof to be paid to my beloved wife annually during her life and at her death, said third to be distributed,- as directed in this will.” Held that the will worked a conversion of the real estate.</p> <p>Parties interested in a fund may elect to-accept the land unconverted, and if they do so, they will acquire an estate therein, but this election must be by some unequivocal act which must be joined in by all those entitled.</p> <p>Equity permits the parties entitled to the fund to be raised by a sale, to take the land in lieu of the proceeds, and where the election is unequivocally manifested, an estate commensurate with the interest they would have had in the fund if raised, vests in the beneficiaries. The election may be' manifested by acts in pais, but these must be of such a character as to leave no reasonable doubt of the intent.</p> <p>Where there is a conversion of land in