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This entry was published on 2014-09-22
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SECTION 1915
Allowance on bid to spouse, beneficiary or creditor purchasing 1
Surrogate's Court Procedure Act (SCP) CHAPTER 59-A, ARTICLE 19
§ 1915. Allowance on bid to spouse, beneficiary or creditor purchasing

1. If upon a sale a spouse, beneficiary or creditor of the decedent
becomes the purchaser of any of the decedent's real property the court
may, upon his application, direct the amount of his elective share,
legacy, distributive share or claim, as the case may be, to be allowed,
in the first instance, upon the purchase price and such purchaser shall
be required to pay only the balance at the time of the sale.

2. If the proceeds of the decedent's real property shall be
insufficient to satisfy the cost and expenses of administration and the
debts and funeral expenses of the decedent, the purchasing spouse,
beneficiary or creditor shall be allowed and credited upon the judicial
settlement of the accounts of the fiduciary only the amount he may be
entitled to receive upon his elective share, legacy, distributive share
or claim and shall then pay the difference between the amount originally
allowed and amount he is entitled to receive.

3. If any purchaser has credit on his bid as above provided no deed
shall be delivered to him until the judicial settlement of the accounts
of the fiduciary and not until he shall have paid the entire amount
required under the provisions of this section.