The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1859-07-06

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terms of the will, deed or other instrument
creating the entailment, thereafter become in
terested therein as heir, reversioner, or other
wise, shall be made parties to the petition; and
if the names of any persons who ought to be
made parties are unknown to the petitioner,
or if the residence of any such party is un-
known to the petitioner, the fact shall be YER
flied by the affidavit of the petitioner. and the
sale may be ordered notwithstanding such
names aud residences may be unknown. The
same notice shall be given to defendants 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. 3, If, upon the hearing of the petition,
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 injury
to the heirs in TAIL or others in succession, re-
version or remainder, the court shall direct a
sale of the estate to be made, and the manner
thereof; and shall appoint some suitable per-
son or persons to make the same; and such sale
shall vest the estate sold in the purchaser
freed from the entailment or limitation over,
Sec. 4. All parties in interest may appear
voluntarily and consent, in writing, to such
sale, and testamentary guardians, and guar
dians appointed by the court of probate, may
assent in the place of their words to the sale.
Sec. 5. All such sales shall be reported to
the ceurt authorizing the same; and if, on ex-
animation thereof it shall appear that such
sale has been fairly conducted and made, and
that the price obtained is the reasonable val
ue of the estate sold, the court shall confirm
. kIn1 L.
conveyance of the premises sold to be made to
the purchaser or purchasers on payment of
the purchase money, or on securing the pay
ment thereof, in such manner as shall be ap-
proved by the court.
Sec. 6. All moneys arising from the sales
under this act shall for purposes of descent,
succession, reversion, or remainder, have the
same character, and be governed by the same
principles, as the estate sold, and shall pass,
according to the terms of the deed, will, or
other instrument creating, the estate.
Sec. Z. Monies arising from such sales
shall, under the direction and approval of the
court be invested in the certificates of the
funded debt of this state, or of the United
States, or in bonds secured by mortgage on
unincumbered real estate, situated in the prop
er county, of double the value of the moneys
secured thereby, exclusive Of buildings and
minerals. The court shall appoint compe-
tent trustees to invest the moneys aforesaid
and manage the same, shall, from time to
time, report to the court their proceedings
and the condition of the fund; and the court
shall require of such trustees security for the
faithful discharge of their duty, may, from
time to time, require additional security, and
| remove such trustees for cause shown, or rea
sonable apprehension thereof; may accept the
resignation of a trustee, and fill vacancy by
new appointment.
Sec. 8. The net income accruing from sales
authorized by this act shall be paid to the per
son or persons who would be entitled to the
use or income of the estate were the same
unsold; and all taxes, and the exr enses of the
investment and management of the fund
shall be paid by the person or persons entitled
| to the income thereof.
Sec. 8, Upon like proceeding, as herein
before authorized, the court may, in their dis
| cretion, authorize and direct that such estate.
| be leased for a term of years, renewable o.
otherwise, as may appear most beneficial, ant
| upon such terms as may appear just ant
equitable, the rents and profits to be paid t,
the person or persons who might otherwise b.
entitled to the use and occupancy of the es
| tate, or the income thereof.
Sec. 10. The costs of the petition and sale
or lease, shall be paid by the person or person
entitled to the income aforesaid.
Sec. IL. This act shall take effect on it.
passage.
| WILLIAM B. WOODS,
| Speaker of the House of Representatives,
MARTIN WELKER,
President of the Senate
April 4, 1859.