§ 53-8-27 - (Pre-1998 Probate Code) Sale of real property which is held pending arrival of beneficiaries at age of majority or subject to future contingency for payment of debts -- Generally - Georgia Statutes

O.C.G.A. 53-8-27 (2010)
53-8-27. (Pre-1998 Probate Code) Sale of real property which is held pending arrival of beneficiaries at age of majority or subject to future contingency for payment of debts -- Generally

When a will provides that real property should be kept together and held until the beneficiaries arrive at the age of majority or that designated real property should not be sold until the happening of some contingency relating to the future, and the estate owes debts which were incurred prior to the death of the testator or were lawfully contracted by the executor, administrator, or trustee of the estate, if the estate does not contain sufficient personal property to pay off and discharge the indebtedness, the executor, administrator, or other trustee may sell, at private or public sale, a sufficiency of the real property belonging to the estate to pay off and discharge any such debts or liabilities. In his official capacity he may give the purchaser good and sufficient title in fee simple to the property so sold; and he shall apply the proceeds of the sale or so much thereof as is necessary to the extinguishment of the indebtedness.