(a) If the deceased was, at the time of his death, a party to a contract for the purchase of real property, his interest in the real property by virtue of the contract may be sold in the same manner as if the contract had been executed in the lifetime of the deceased, by a conveyance to him of such property according to the legal effect and terms of the contract.
(b) If there are any payments due, or to become due, on such contract, to the vendor of the deceased, sale is made subject thereto. Before the sale can be confirmed or the contract assigned to the purchaser, the purchaser shall execute an undertaking, with one or more sureties, in an amount not less than double the value of all the payments then due or to become due, for the benefit of whom it may concern, to be void upon the condition that the purchaser will make all such payments according to the terms of the contract, and indemnify the executor or administrator or others whom it may concern against all damages, costs, and expenses by reason of any covenant or agreement contained in such contract.
(c) The order of confirmation of the sale shall direct the executor or administrator to make an assignment of the contract to the purchaser, which assignment shall vest in the purchaser, his heirs and assigns, all the estate, right, and interest of the deceased at the time of his death in such real property and give to the purchaser the same rights and remedies against the vendor thereof as the deceased would have had or been entitled to if living.