Ohio Code 2109.10 – Bond when executor or administrator is sole residuary legatee or distributee
If an executor or administrator is sole residuary legatee or distributee and if division (A) of section 2109.07 or division (A) of section 2109.09 of the Revised Code does not apply, instead of giving the bond prescribed by section 2109.04 of the Revised Code, the executor or administrator may give a bond to the satisfaction of the probate court conditioned as follows:
Terms Used In Ohio Code 2109.10
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Bond: includes an undertaking. See Ohio Code 1.02
- Decedent: A deceased person.
- Executor: A male person named in a will to carry out the decedent
- Legatee: A beneficiary of a decedent
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- Probate: Proving a will
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Testator: A male person who leaves a will at death.
(A) To pay the costs of administration and all the debts and legacies of the decedent to the extent of the assets of the estate;
(B) If there is a will, to pay over the testator‘s estate to the person entitled to the testator’s estate if the will is set aside;
(C) If there is no will offered at the opening of the estate, to pay over the testator’s estate to the person entitled to the testator’s estate if a will is probated after the administrator’s initial appointment.
The giving of that bond shall not discharge the lien on the decedent’s real property for the payment of the decedent’s debts, except that part that has been lawfully sold by the executor or administrator.