When will the executor of a will or devisee take possession of the proceeds of a sale of real or personal property?

as real or personal property or direct the manner of their distribution. It was designed simply to allow the estate representative to take possession of the proceeds for administrative purposes, whereas possession of the land itself would be received directly by the heirs or devisees. In McCarty v. Myers (5 Hun 83, supra), it was said at page 85, that the executor will "hold the money for the creditors of their testator, or for the devisee, as the other personal estate of the testator shall or shall not prove sufficient to pay the testator's debts. * * * If the purchaser shall fail to perform the contract on his part, and it is forfeited, the devisee will take the title discharged from the equitable rights of the purchaser, and become the absolute owner in fee" (emphasis added). (See, also, Matter of Ashback, 103 Misc. 147, supra.)