2127.38 Distribution of money received from sale of real estate. - Ohio Statutes

2127.38 Distribution of money received from sale of real estate.

The sale price of real estate sold following an action by an executor, administrator, or guardian shall be applied and distributed as follows:

(A) To discharge the costs and expenses of the sale, including reasonable fees to be fixed by the probate court for services performed by attorneys for the fiduciary in connection with the sale, and compensation, if any, to the fiduciary for his services in connection with the sale as the court may fix, which costs, expenses, fees, and compensation shall be paid prior to any liens upon the real estate sold and notwithstanding the purchase of the real estate by a lienholder;

(B) To the payment of taxes, interest, penalties, and assessments then due against the real estate, and to the payment of mortgages and judgments against the ward or deceased person, according to their respective priorities of lien, so far as they operated as a lien on the real estate of the deceased at the time of the sale, or on the estate of the ward at the time of the sale, which shall be apportioned and determined by the court, or on reference to a master, or otherwise;

(C) In the case of an executor or administrator, the remaining proceeds of sale shall be applied as follows:

(1) To the payment of legacies with which the real estate of the deceased was charged, if the action is to sell real estate to pay legacies;

(2) To discharge the claims and debts of the estate in the order provided by law.

Whether the executor or administrator was appointed in this state or elsewhere, the surplus of the proceeds of sale must be considered for all purposes as real estate, and be disposed of accordingly.

Effective Date: 09-21-1982