Dayton daily empire. [volume] (Dayton [Ohio]) 1850-1865, 1859-05-13

No 1877. AN ACT
To provide for the sale lease Of estates tail 10
certain cases.
Section /. Be Il enacted by the General Assembly
Of tie State oi Ohio, That Il shall be competent for
the cours Of common pleas Of this state, On appll,
cation ol the first dominee In tall for life TO au-
thor1e The sale u enailed estates for life with re
maindeT over 10 any other person or persons, when
satisfied that the sale woud be Tor the benefit Of the
applicant aud do no subitanlal injury TO the heirl
iu tall others in succession, Tevefson or remains
der.
See. 3. The petition shall contain description Of
the estate 10 be sold crar statement OF the inter
EFT Of the petitioner therein, aud copy Of The will
deed or other instrument Of writing BY which the
estate s created. All persons 10 being who may be
interested Ia the estates VI no may by the terms
Of the will deed or Other instrnment creating the
entRment, thereafter btcOme interested therein ~
heir, reversioner, or Otherwise shall be made parties
to the petition aud II the names of any persons who
ought to be made parties are unknown TO the peti
toner, or il the residence of any such party il IN,
known to tho petitioner the fact shall bc yei fled
by the affidavit Of the petitioner. and the sale may
be ordered notwithstanding such names aud resi-.
dencc' may be unknown, The same notice shall
be given To defendants, " the application for the
sale now Is or msy hereafter be required in cases
Of petitions Of administrators for authority to sell
real estate for the payment Of debts.
Sec. 3. IL, npon the hearing Of the petition, Il
shall be made TO appear to the court by satisfactory
proof that sale ol the estate would be for the ben.
eft Of the first douee In tail or for lile add do no
substantial injury TO the heirs In tail, or otheEs la
succession, reycnion, or remainder, the court shall
direct sale Of the estate 10 be made. And the man
ner thereof aud shall appoint some suitable person
OF persons to make THE same, aud such sale ,hall
vest the estate sold In he purchaser freed from tho
entoilment or Limitation over.
Sec. 4. All parties IN interest may sppear voun-
iaFilV md ponsnnl In writing aueh anle nnd
lamentOry guard and guardians appointed by
the court OF probate may asse nj in the place of their
wards 10 the sale.
Sec, 5. All such sales shall be reported 10 the
court authorizing the same, aud II, on exnmiuaton
therso II hall appear that such sale has been lsrly
conducted aud made and that the price obiainod 10
the reasonable value Of the estate Sold the conr shall
confirm the sale aud authorize aud direct deed Of
conveyance OF the premises sold, 10 be made 10 the
purchaser or purchasers on payment OF the purchase
money. or on securing the payment thereof 10 such
manner as approved BY the court.
Sec. g. All moneys arising from sales under this
act ,hnll. Tor purposes oi descent, succession, TO
ver,ion, OF remainder, have the saTe character aud
be governed by the same principles, as tho estate
sold and shall pass, accordingly 10 the terms oi the
deed, will other instrument creating the estate.
See. I. Moneys arising from such sales shall, un,
der the direction aud approval Of the court be iuN
vested in the certificates Of the fanded debt Of this
state. or Of United States, OF 10 bonds secured by
mortgage on uuncumbered real sslute, situated in
the proper county, Of double the value Oi the mons
eys secured thereby, exclusive Of bulldogs aud
other Improvements, aud Of timber, miues aud min
erals. fhe eOurl shall Oppoat eompelent trustee,
10 invest The moneys storesaid aud maUAge the same
who shall, from time TO tue, report TO the court
their proceedings and the condition OF the fund.- and
The court shall require Of inch trustees iHeurity fer
the faithful discharge Of their duty; aud may from
tins TO time require additional security aud may re,
motO such trustees for cause shown. or reasonable
apprehension thereof, may accept the resignation Of
a trustee, and illl yaeancie, by new appointment.
Sec. B. The net Income accrning lrsm sales an'
horzed by this act, shall be paid to the person or
persous who would be entitled 10 the use or income
Of TIE estate we're the aame unsold, aud all taxes
and the expenses of the investment and management
Oi the iund shall be paid BY the person or per1onS
entitled to the income thereof.
Sec. 3, Upon like proceedings Is heIenbeforo au'
horized by the court may 10 their di.eTetion, an.
thorIe and direct that such estates be leased Tor
term Of years. renewable or Otherwise, ~ may ep'
pear most beneficial. aud npoa such terms a, may
appear just ahd equitable, the rents aud profit, 10
be paid TO the persoa persons VIII might olherWhs
be entitled 10 the use an' occupancy of the estHto or
tho income thereof
Sue. 10. The c1sls oithe petition and sale or lease
shall be paid by he person or PersenS entitled 10 the
income Aforesaid.
See H. This act shall take effect on iis passage.
WILLIAM D. WOODS,
Speaker Of the House Of Representatives.
MARTIN WELKER
President OF the Senate,