                                 CODE OF VIRGINIA

WHAT PERSONAL ESTATE TO BE SOLD; USE OF PROCEEDS (§ 64.2-526)

A. Subject to the provisions of Article 2 (&#xA7; 64.2-309 et seq.) of Chapter 3
and excluding personal estate that the will directs not to be sold, the personal
representative shall sell such assets of the personal estate where the retention
of such assets is likely to result in an impairment of value. In conducting such
a sale, the personal representative may give reasonable credit and take bond
with good security.

B. If, after the sale pursuant to subsection A, the personal estate is not
sufficient to pay the funeral expenses, charges of administration, debts, and
legacies, the personal representative shall sell so much of the remaining
personal estate as is necessary to pay such obligations. In conducting such a
sale, the personal representative shall give as much consideration as
practicable to preserving specific bequests in the will and to the provisions of
Article 2 (&#xA7; 64.2-309 et seq.) of Chapter 3.

C. Unless necessary for the payment of funeral expenses, charges of
administration, or debts, the personal representative shall not sell personal
estate that the will directs not to be sold.

HISTORY: Code 1950, §§ 64-143, 64-144, 64-145; 1966, c. 331; 1968, c. 656,
§§ 64.1-153, 64.1-154, 64.1-155; 1981, c. 580; 2012, c. 614.