131 A. 327 | Md. | 1925
The appellants, heirs at law of Joseph Knapp, deceased, excepted to the ratification of a public sale of leasehold estate by executors of the will of Joseph Knapp, under an order of the Orphans' Court of Baltimore City; and they specified as the grounds of exception: (1) that the will under which the executors had been proceeding had been set aside upon a caveat, and therefore the executors had no right or power to proceed in the administration of the estate; (2) that the sale, which was for the payment of debts, was authorized upon a misrepresentation as to the need of *219
money from the sale of real estate for that purpose; (3) that the advertisement of notice of the sale was insufficient; and, (4) that the price brought was grossly inadequate, and, under the circumstances shown, should not be accepted. The first and second grounds have not been pressed in the argument on appeal. The docket entries of the case show that the sale had been made and reported, and these exceptions filed, before the order setting aside the will was passed in the orphans' court, so that the executors still had power to act. "The effect of the caveat and the proceedings was not to revoke the probate, or suspend the powers of the executors. These remain to await the final action of the orphans' court, after the trial and verdict upon the issues." Munnikhuysen v. Magraw,
The orphans' court, acting under its statutory power (Code, P.G.L., art. 93, sec. 290), to "direct the manner and terms of sale" of property to obtain money for payment of debts, ordered that notice of this sale be advertised in one of the daily newspapers in Baltimore City twice a week for two weeks. This, we are informed by counsel, is the notice customarily ordered by that court for such sales. The sale took place on November 6th, 1924, and the notice was published in the Daily Record of Baltimore, where such notices are commonly published, on October 20th, 24th, and 27th and November 1st, 3rd and 6th, 1924, that is to say, six times during eighteen days, or more often and for a longer time than the order of the court required. The appellants object, however, that this advertisement, measured by the statutory or customary length of notice of judicial sales in other proceedings, is too short. And they argue that it should be so measured, because practice under a statutory power so indefinite as that to "direct the manner and terms of sale," is regularly *220
conformed by the courts, "upon principles of analogy," to the practice defined in more specific statutes for similar situations. Statements by this Court in Berrett v. Oliver, 7 G. J. 191; Lowe v. Lowe,
Coming to the question of the adequacy of the price brought at the sale, we find from the evidence on the subject that between two and three dozen people attended the sale, and that there were about seven bidders. The property was sold to the highest bidder at $2,605. It had been appraised at $3,500, and the appellants offered at the hearing an expert's valuation of $4,000. This valuation was not admitted in evidence, and the reason for the exclusion does not appear in the record. The court also excluded evidence of two present offers to purchase at $4,000. Boyd v.Smith,
It is objected that the order for this sale failed to comply with the requirement of the rules of the orphans' court that petitions for the sale of such property should state the day, date, month and year of the return of the inventory in the estate of which the petitioners are executors or administrators (Rule 21); and a supplemental printed record of 17 pages has been filed to bring the rule before this Court. We have not been able to find in it anything which could affect, in any way, an order passed by the court on a petition which omitted to state the facts specified. There is also some criticism of the advertisement for defects due, as it would seem, to carelessness in its preparation, but we do not understand these to be cited as affecting the validity of the sale. The evidence shows, further, that the executors did not make any effort, other than by the publication, to bring the sale to the notice of possible buyers. The advertisement which the law specifically requires is a legally sufficient advertisement, of course (Shaw v. Smith,
In considering exceptions to a sale because of dissatisfaction with the price, we begin, of course, with the principle that mere inadequacy of price, standing alone, is not sufficient to vacate a sale, unless it be so gross and inordinate as to indicate some mistake or unfairness in the sale, for which the purchaser is responsible, or misconduct or fraud on the part of the trustee making the sale. Boyd v. Smith,
Order affirmed. *223