CHAPTER 272

FORMERLY

SENATE BILL NO. 290

AN ACT TO AMEND TITLE 12 OF THE DELAWARE CODE RELATING TO SALES OF REAL ESTATE BY EXECUTORS.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE :

Section 1. Amend § 207 of Title 12 of the Delaware Code by deleting subsection (b) in its entirety and substituting in lieu thereof the following new subsections (b) and (c); and by redesignating existing subsections (c) and (d) thereof as subsections (d) and (e):

“(b) Where, by the terms of a will, an executor is expressly directed to sell real property, such executor may sell or exchange such real property and it shall not be necessary for any beneficiary of the estate to join in the instrument transferring or conveying such property.

(c) Where, by the terms of a will, an express power to sell real property is granted to an executor, such executor may sell or exchange such real property as is not specifically devised and as the executor reasonably believes, at the time of such sale or exchange, is necessary to be sold in order to pay the debts of the decedent or the expenses of administration (including estate and inheritance taxes and taxes imposed upon the income of the estate) of the estate, and it shall not be necessary for any beneficiary of the estate to join in the instrument transferring or conveying such property. In any sale of real estate authorized by this subsection (c), it shall not be necessary for the executor to obtain an Order from the Court of Chancery authorizing the sale pursuant to Chapter 27 of this Title.”

Section 2. Amend § 207 of Title 12 of the Delaware Code by adding a new subsection (f) as follows:

“(f) For purposes of this section, the term “executor” shall include any personal representative of a testate estate.”

Section 3. Amend § 207 of Title 12 of the Delaware Code by amending newly redesignated subsection (d) by deleting the reference therein to “subsection (b)” and replacing it with “subsection (c)”.

Section 4. This Act shall be effective upon enactment and shall not invalidate any transfer or conveyance prior to such date of enactment.

Approved June 24, 2004