Kansas Statutes 59-1404. Realty acquired
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 59-1404
- Decedent: A deceased person.
- Executor: includes an administrator where the subject matter applies to an administrator. See Kansas Statutes 77-201
- Executor: A male person named in a will to carry out the decedent
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: includes money, goods, chattels, evidences of debt and things in action, and digital assets as defined in the revised uniform fiduciary access to digital assets act, Kan. See Kansas Statutes 77-201
- Personal property: All property that is not real property.
When a foreclosure sale or a sale on execution for the recovery of a debt due the estate is had, or redemption is made, the executor or administrator shall receive the money paid and execute the necessary satisfaction or release. If bid in by the executor or administrator, the real estate shall be treated as personal property, but any sale or lease shall be made pursuant to article 23. If not so sold the real estate, and if so sold or leased the proceeds, shall be assigned or distributed to the same persons and in the same proportions as if it had been a part of the personal property of the decedent.