When deceased under contract to convey.
Section 725
SEC. 725. When deceased under contract to convey. — Where a deceased person was in his lifetime under contract, binding in law, to deed lands, or an interest therein, the court having jurisdiction of an estate may, on application for that purpose, grant license to the executor or administrator to convey such land, according to such contract or with such modifications as are agreed upon by the parties, and approved by the court; and if the contract is to convey lands to the executor or administrator, the judge of the court shall execute the deed. The deed executed by such executor, administrator, or judge, shall be as effectual to convey such lands as if executed by the deceased person in his lifetime; but no court shall grant such license to deed the lands of the deceased person until notice of the application for that purpose has been given to all persons interested, under an order of such court, and published three weeks successively, previous thereto, in such newspapers as the court directs; nor if it appears to the court on a hearing that the assets in the hands of the executor or administrator will thereby be reduced so as to prevent a creditor from receiving his full debt or diminish his dividend.