Section 3 Executor or administrator as residuary legatee; bond - Massachusetts Statutes

[Text of section effective until July 1, 2011. Repealed by 2008, 521, Sec. 33. See 2008, 521, Sec. 44.]

Section 3. If the executor of a will or an administrator with the will annexed is residuary legatee thereunder, and it appears that the bond required of him by section one is unnecessary for the protection of any person interested in the estate, the court may permit him, instead of giving such bond, to give bond in a sum and with sureties to the satisfaction of the court, and conditioned to pay all debts and legacies of the testator and such amounts as may be allowed by the court to the widow or minor children for necessaries. In such case he shall not be required to return an inventory to the court. The giving of such bond shall not discharge the lien on the real estate of the testator for the payment of debts, except on such part as may be sold by such executor or administrator to a purchaser in good faith and for a valuable consideration; and all property not so sold may be taken on execution by a creditor not otherwise satisfied, in like manner as if a bond had been given in the other form.