The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1859-08-10
LAWS OF OHIO.
PUBLISHED BY AUTHORITY.
mo. 1871 AN ACT
To provide for the sale or lease of estates
tail in certain caaaa

No. 1871 AN ACT
To provide for the sale or lease of estates
tail in certain cases.
Section l. Be IL enacted By the General
Assembly Of the Stale Of Ohio, That it shall
be competent for the courts of common pleas
Of this State, on application of the first do.
nee in tail, or for life, to authorize the sale
of entailed estates and estates for life with
remainder over to any other person or per.
sons, when satisfied that the sale would be
for the benefit Of the applicant, and do no
substantial injury to the heirs in tail, or
others in succession, reversion or remainder.
Sec. 2. The petition shall contain de.
scription of the estate to be sold, clear
statement of the interest of the petitioner
therein, and copy of the will, deed or 9th.
er instrument Of writing by which the estate
is created. All persons in being who may be
interested in the estate, or who may, by the
terms OF the will, deed or other instrument
creating the entailment, thereafter become
interested therein as heir, reversioner or 9th.
erwise, ,shall be made parties to the petition;
and If the names of any pers ons who ought
to be made parties are unknown to the petit
toner, or if the residence of any such party
is unknown to the petitioner, the fact shall
be verified by the affidavit of the petitioner,
and the sale may be ordered notwithstanding
such names and residences may be unknown.
The same notice shall be given to defend
ants, of the application for the sale, as now
is or may hereafter be required in cases OF
petitions of administrators for authority to
sell real estate for the payment of debts.
Sec. 8. If upon the hearing of the petit
ton, it shall be made to appear to the court
by satisfactory proof, that sale of the estate
would be for the benefit of the first donee
in tail. or for life and do no substantial in
Jury to the heirs in tail, or others in success
ion, reversisn, or remainder, the court shal]
direct sale of the estate to be made, and
the manner thereof; and shall appoint some
suitable person or persons to make the same;
and such sale shall vest the estate sold in
the purchaser, freed from the entai!ment OF
limitation over.
Sec. 4. All parties in interest may ap
, pear voluntarily and consent in writing tc
such sale, and testamentary guardians, and
guardians appointed by the court of probate,
may assent in the place of their wards to
the sale.
!,
, to the court authorizing the same, and if, on
s examination thereof, it shall appear that
? such sale has been fairly conducted ant
o made, and that the price obtained is the rea
sonable value of the estate sold, the cour
, shall confirm the sale and authorize and di
d rect deed of conveyance of the premise
2. sold, to be made to the purchaser or pur
chasers on payment of the purchase money
or on securing the payment thereof, in sucl
manner as shall be approved by the court.
Sec. 6. All moneys arising from salet
under this act shall, for the purpose of de
II scent, succession, reversion, or remainder
- have the same character, and be governe
" by the same principles, as the estate sole
e and shall pass, according to the terms of tn
deed, will, or other instrument creating tn
!. estate.
|. Sec. 7. Moneys arising from such sale
!. shall, under the direction and approval o
the court, be invested in the certificates Q
70 the funded debt of this State, or of the Uni
l. ted States, or in bonds secured by mortgag
}. on unincumbered real estate, situated j
the proper county, of double the value {
the moneys secured thereby, exclusive {
u buildings and other improvements, and G
ls timber, mines and minerals. The coul
shall appoint competent trustees to invet
n the money aforesaid, and manage the SAM
~. who shall, from time to time, report to tn
" court their proceedings and the condition I
.. the fund; and the court shall require of sue
I'd trustees security for the faithful discharge
their duty; may, from time to time. requil
K. additional security, and may remove sue
trustees for cause shown, or reasonable al
prehension thereof; may accept the resign,
l. ton of trustee, and fill vacancies by ne
IN appointment.
IN Sec. 8. The net income accruing fro
70 sales authorized by this act shall be paid
the person or persons who would be entitlt
to the use or income of the estate were Il
n. same unsold; and all taxes, and the expe
he ses of the investment and management
us the fund, shall be paid by the person or pc
sons entitled to the income thereof.
'n Sec. 9. Upon like proceedings, as her
n in before authorized, the court may, in the
discretion, authorize and direct that su
. estates be leased for term of years renew
IN BILE or otherwise, as may appear most ben
fetal and upon such terms as may appe
81 just and equitable, the rents and profits to
ey paid to the person or persons who mig
vn otherwise be entitled to the use and oct
pancy of the estate, or the income there
Sec. 10. The costs of the petition q
sale or lease, shall be paid by the person
he persons entitled to the income aforesaid.
;te Sec. IL. This act shall take effect on
~. passage.
~ WILLIAM B. WOODS,
ed Speaker Of the House of Representativ
tie MARTIN WELKER,
he President of the Senate
,rs April 2, 1859.