185 N.E. 854 | Ill. | 1933
The Farmers and Mechanics Bank, executor of the last will and testament of Emeline A. Snapp, deceased, petitioned the county court of Knox county for an order directing it to sell real estate to pay debts and legacies, and a decree was entered ordering such sale. After due notice a house and lot located in Galesburg and a farm in Warren county were offered for sale in accordance with the decree. The executor's report of sale showed that Arthur K. Hardy's bid of $6300 for the farm lands was the highest; that subsequently an offer to pay at least the sum of $7500, or three dollars more per acre, had been received by the executor; that a guaranty was given it to insure the bidding of at least that sum upon a re-sale, and that the sum of $6300 was not a fair and reasonable price for the real estate. Objections were filed to the report by Hardy, who claimed that the sale to him for the farm lands should be approved. Additional objections were also filed by the Chaddock Boys School and by the Wesley Foundation of the University of Illinois, which were interested in the proceeds of the sale of the real estate. The court heard evidence upon the report of sale and the objections thereto and entered an order approving the sale of the city property and ordering a re-sale of the farm property, from which order Hardy has appealed to this court.
The evidence upon the hearing showed that by the will of the deceased, Emeline A. Snapp, the management and control of the farm lands were devised to the First National Bank of Galesburg in trust, with directions to sell and convey the same within ten years after the testatrix's death, and to pay over the proceeds of such sale one-half to the Wesley Foundation of the University of Illinois and one-half to the Chaddock Boys School of Quincy, Illinois. By a codicil to the will the Farmers and Mechanics Bank of Galesburg was nominated as trustee in place of the First *325 National Bank. The Wesley Foundation is a corporation not for profit and is an effort of the Methodist church to look after the social and religious interests of students at the University of Illinois. Its principal activities are religious instruction, social events for the young people, forums, and cultivation of friendship with international students. The Chaddock Boys School, located at Quincy, is a corporation not for profit and is also connected with the Methodist church. It is a home for homeless boys without means, taking them from about 'the age of five years through the eighth grade and occasionally through high school. They are both organized solely for charitable purposes. The court in its decree found that the fair cash market value of the farm on the date of the sale was $10,000, that Hardy's bid was less than two-thirds of its value, and that the approval of the sale to him would result in a substantial loss to the two charitable institutions.
Clegg v. Christensen,
Section 109 of the Administration act, which provides for the manner of making executors' sales for the payment of decedents' debts, among other things provides with reference to the reports of such sales, that "any person interested in the premises sold, and any creditor of the estate, may file exceptions to such report, and upon the hearing thereof, the court may approve such report and confirm the *327
sale, or disapprove the same and order the premises to be re-sold." The highest bidder whose bid has been reported to the court as the best offer acquires no interest in or right to the land and is a mere offerer to purchase. Confirmation is final consent, and the court, being in fact the vendor, may consent or not, in its discretion. (Miller v. Miller,
From a consideration of the evidence in this case we are of the opinion that the county court properly exercised its discretion in disapproving the report and ordering a re-sale of the farm lands.
The order of the county court is affirmed.
Order affirmed.