The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1859-06-23
Anil 1. 1850.
An ACT

mo. 1877 AN ACT
10 provide for the solc or lease or estates enuiod In
certoin cases.
Sec !. Bs hcgaetcd6y the Gen raj AssrnIiv offhc
State of OhiO, That it shall be competent for the
courts ol common pleas Of this state, application
of the first donee in tail or for life, TO authorize the
sale of cntoied estates, and estates for life with re-
nuinder over to any other person or persons, when
satisfied that the sale would be for the benefit of the
applicant aud do no substantial injury to the heirs in
tail, Others in succession reversiOn or remainder
Sec. .. The petition shall contain description of
the estate 20 he sold clear statement of the Interest
of the petitioner therein, and copy OF the viii deed
other instrument of writing by which the estate IL
created. All persons in being who may he interested
in the estate, or who may, by the terms of the will
deed or other instrument creating the cntailmcnt
thereafter become Interested therein ns heir rcyer-
sioi otherwise shall he made parties the peti-
tiou aud If the names of any persons who ought TO
be made parties unknown to the petitioner or II
the residence OF any such party is unknown to the pc.
uuoner the fact shHll be verified by the affidavit oi
the petitioner aud the sale may DO ordered notwith-
standing such names and residences may be unknown
The same notice shall be given TO defendants of the
application Tor the sHe, as now Is may hereafter
be required IN cases of petitions of administrations
for authority to sell real estate for the payment OF
debts,
See 3. IT, upon the hearing Of the petition Il shall
lie made 70 appear to the court hy satisfactory proof
that sale OF the estate would hc for the benefit of the
first donec in tail, for life, and do no substantial
injury to the heirs in tail or others in succession
reversiOn or remainder, the shall direct sale u
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 entaiment or limitation
over
SEED Allporties in interest may appear volun
tarily and consent writing to such sale and tesla
mentarN guardians, and guardians appointed hy the
court of probate may assent in the place of their
wards TO tho sale,
se,, 8. All such sales shall bc reported to the
court authorizing the same, and it on examination
thereof it shall appear that such sale has been hry
conducted ana made, and that the price obtained is
The reasonable value of the estate sold the court shall
confirm the sale and authorize and direct u deed of
conveyance the premises sold, Ia be made to the
purchaser or purchasers payment of the purchase
money, or on securing the payment thereof In such
manner as shall be approved by the court.
Sec. q. All moneys arising from sales under this
act SHALL Tor purposes of descent succession revor
sion or remainder have the snmo character aud he
governed 10y the samo principles az the estate sold
mud shall pass according to the terms of the deed
will or other instrument creating the estate.
See, I. Moneys arising from such sale shall under
the direction and approval of the court be invested
in certificates of The funded debt OF This state or of
the United States. or in bonds secured by mortgage
pniucumhcrcd real estate, situated in the proper
comfy, OF double the yaluc OF the moneys secured
thereby exclusive of buildings aud other improve
mvnts, and Of timber, mines aud minerals The court
shah appoint competent trustees To invest the moneys
aforesaid, and manage the same who shall, from time
To time report to the court their proceedings and the
condition OF tho iund, nnd the court shall require of
ench trustees security for the faithful discharge OF
their duty; may, from time to time, re luiro addition.
nj security and may remove such trustees for cause
shown, or reasonable apprehension thereof may ac-
cept the resignation OF trustee aud fiji vacancies by
new appointment.
See ). The net income accruing from sales au .
thorzed by this act, shall Ice paid to the person or
persons who would be entitled to the use or income
OF the estate the unsod; and all taxes and
the expenses of the investment aud management of
tue luhu shall be pad 10y the person or persons ent
tied ia the income thereof
Sec. .. Upon like proceedings, as hercnhefore au.
thoSed e court mUy. IN their discIefion authorize