Effective: January 13, 2012
Latest Legislation: Senate Bill 124 - 129th General Assembly
If an executor or administrator is sole residuary legatee or distributee and if division (A) of section 2109.07 or division (A) of section 2109.09 of the Revised Code does not apply, instead of giving the bond prescribed by section 2109.04 of the Revised Code, the executor or administrator may give a bond to the satisfaction of the probate court conditioned as follows:
(A) To pay the costs of administration and all the debts and legacies of the decedent to the extent of the assets of the estate;
(B) If there is a will, to pay over the testator's estate to the person entitled to the testator's estate if the will is set aside;
(C) If there is no will offered at the opening of the estate, to pay over the testator's estate to the person entitled to the testator's estate if a will is probated after the administrator's initial appointment.
The giving of that bond shall not discharge the lien on the decedent's real property for the payment of the decedent's debts, except that part that has been lawfully sold by the executor or administrator.