2127.27 Additional bond before sale. - Ohio Statutes

2127.27 Additional bond before sale.

Upon the return and approval of the appraisement provided for by section 2127.22 of the Revised Code, the court shall require the executor, administrator, or guardian to execute a bond with two or more personal sureties, or one or more corporate sureties, whose qualifications shall be those provided by section 2109.17 of the Revised Code. Such bond shall be payable to the state in an amount which the court deems sufficient, having regard to the amount of real estate to be sold, its appraised value, the amount of the original bond given by the executor, administrator, or guardian, and the distribution to be made of the proceeds arising from the sale, and such bond shall be conditioned for the faithful discharge of his duties and the payment of, and accounting for, all moneys arising from such sale according to law. Such bond shall be additional to that given by the executor, administrator, or guardian at the time of his appointment. If the court finds the amount of the original bond given by the executor, administrator, or guardian is sufficient, having regard for the amount of real estate to be sold, its appraised value, and the distribution to be made of the proceeds arising from the sale, the giving of additional bond may be dispensed with by order of the court. Such bond shall be given in the court from which the executor, administrator, or guardian received his appointment.

If the action to obtain authority to sell real estate is pending in another court, the latter shall proceed no further until there is filed therein a certificate from the court wherein the executor, administrator, or guardian received his appointment, under its seal, that such bond has been given or that the original bond is sufficient. This section does not prevent the court in an action to sell real estate from ordering the sale of such real estate without bond in cases where the testator had provided by his will that the executor need not give bond.

Effective Date: 10-01-1953