Authority and legal basis
- Section 1 amends Section 714 of the Code of Civil Procedure.
- The amendment covers Section 714 as previously amended by Act No. 2884.
Core rule on sale or encumbrance of realty
- Section 714 authorizes judicial licensing for the sale or encumbrance (including mortgage-wise encumbrance) of a deceased person’s real estate.
- The court may grant the license when there is no personal estate of the deceased.
- The court may grant the license when there is personal estate, but its sale would redound to the detriment of the interests of the participants in the estate.
- The deceased must have left no testamentary disposition for the payment of his debts and charges of administration.
- The court must grant the license on application of the executor or administrator.
Notice and conditions for the license
- Section 714 requires written notice to the heirs, devisees, and other persons interested in the estate.
- The license is proper only if it clearly appears that the sale, mortgaging, or encumbrance would be beneficial to the persons interested.
- The license is improper if it would defeat any devise of land.
Assent requirement for devisees
- Section 714 provides that, in the licensed scenario, the assent of the devisee shall be required.