Property which has been transferred or appropriated by personal representatives to a person beneficially entitled thereto shall, so long as it remains vested in that person, or in any person claiming under him not being a purchaser in good faith and for value, continue to be liable to answer the debts of the deceased person as it would have been liable if it had remained vested in the personal representatives; and in the event of a sale or mortgage thereof in good faith and for value by such person beneficially entitled or by any person claiming under him not being a purchaser in good faith and for value, he shall continue to be personally liable for such debts to the extent to which such property was liable when vested in the personal representative, but not beyond the value thereof.