
    Estate of McLaren.
    (Surrogate’s Court—New York County,
    January, 1894.)
    By the terms of a will an equitable conversion was effected of the real estate, part of which remained unsold at the time of the accounting. Held, that while the value of all the real estate may be taken into consideration for the purpose of ascertaining whether the value of the personalty amounts to $100,000, and determining the rate of commissions to which the executors are entitled, the executors are not entitled to commissions upon real estate not actually sold.
    Settlement of decree on judicial settlement of the account of the executors.
    Estes, Barnard & Tiffany, for executors.
    
      P. H. Vernon, for legatees.
   Fitzgerald, S.

An equitable conversion of the realty has been effected by the power of sale given by the will to the .executors. The estate, however, is held by the executors as such, and the real estate being as yet unconverted, they are not entitled to commissions on the principal thereof. The value of the real estate, however, can be taken into consideration in ascertaining whether the value of the estate of decedent was $100,000 in excess of debts, for the purpose of determining the commissions to which the executors are entitled on income. The decree should provide for the retention of the estate by the executors upon the trust in the will. There is insufficient evidence before the court upon which to decide the question as to the value of the real estate unsold, and I have referred the matter.

Ordered accordingly.  