Majority
p. 1057*John D. Hertell et al. v. James Bogert et al.
Headnote
■ Executors— One of several executors cannot transfer title to a bond and mortgage given to them to secure payment of the purchase money of ■ real estate of the testator—Otherwise as to securities given to testator,W. Kent and S. Miller for the complainants.
Charles Edwards for defendant Bogert.
S, F. Clarkson for the executors.
The chancellor decided in this case that where, upon a sale by executors of the real estate of the testator, a bond and mortgage is given to them as executors for the purchase money, such bond and mortgage cannot be assigned by one of such executors alone, without the concurrence of his coexecutor, so as to transfer such bond and mortgage to the assignee; that in such a case the legal title to the security is in all the executors jointly, in the same man
p. 1058
ner as if it had been given to them as trustees under an ordinary trust; that the rule is otherwise as respects securities given to a testator in his lifetime. Decree of the vice-chancellor affirmed, with a slight modification, with costs.