Delaware Code Title 12 Sec. 207 – Power of sale of executor or trustee; liability of purchaser
(a) Where, by the terms of a will or trust instrument, an express power to sell real property is granted to a trustee, such trustee may sell or exchange such real property as is not specifically required to be distributed in kind to any beneficiary, and it shall not be necessary for any beneficiary of the trust to join in the instrument transferring or conveying such property.
Terms Used In Delaware Code Title 12 Sec. 207
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Court: means the Court of Chancery. See Delaware Code Title 12 Sec. 39A-101
- Decedent: A deceased person.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Executor: A male person named in a will to carry out the decedent
- real property: is synonymous with the phrase "lands, tenements and hereditaments. See Delaware Code Title 1 Sec. 302
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Testate: To die leaving a will.
- Trustee: A person or institution holding and administering property in trust.
(b) Where, by the terms of a will, an executor is expressly directed to sell real property, such executor may sell or exchange such real property and it shall not be necessary for any beneficiary of the estate to join in the instrument transferring or conveying such property.
(c) Where, by the terms of a will, an express power to sell real property is granted to an executor, such executor may sell or exchange such real property as is not specifically devised and as the executor reasonably believes, at the time of such sale or exchange, is necessary to be sold in order to pay the debts of the decedent or the expenses of administration (including estate and inheritance taxes and taxes imposed upon the income of the estate) of the estate, and it shall not be necessary for any beneficiary of the estate to join in the instrument transferring or conveying such property. In any sale of real estate authorized this subsection, it shall not be necessary for the executor to obtain an Order from the Court of Chancery authorizing the sale pursuant to Chapter 27 of this title.
(d) In any sale made by an executor, administrator or other personal representative or by a trustee pursuant to this section, there shall be no liability upon the purchaser to see to the application of the purchase money, unless the will or trust expressly imposes such liability, and the purchaser shall be entitled to rely without liability therefor upon the representation by the executor in the deed of conveyance that any sale of real property is for the purposes set forth in subsection (c) of this section.
(e) No conveyance by an executor, prior to January 1, 1985, of real property not specifically devised shall be invalid or ineffective solely because 1 or more devisees of such property failed to join in the instrument of conveyance.
(f) For purposes of this section, the term “executor” shall include any personal representative of a testate estate.
Code 1915, §§ ?3244-A; 30 Del. Laws, c. 208, § ?1; Code 1935, § ?3709; 12 Del. C. 1953, § ?108; 59 Del. Laws, c. 384, § ?1; 64 Del. Laws, c. 252, § ?1; 74 Del. Laws, c. 272, §§ ?1-3;