Holmes County Republican. [volume] (Millersburg, Holmes County, Ohio) 1856-1865, 1859-08-11
LAWS OF OHIO:
Published BY Authority-


published by Autn0r-s1.
To pror;de fr the sale or lease Of estates tail IN
certain eases. .-.s -.
srrrmx 4. Be u enacted BY IT, General A.
ssn6lu of a.e State Of Ohio. That it shall be
competent for the courts of Common pleas Of
tins ststs, on application Of the frst dopee in
tzil or for life 10 authorize the sale of eptailed
eatates. md estates for life with remainder over
10 any other person or persons, when satisfied
thsf the ale would be for the benefit Of the ap-
plisant. and do no substantial injury to the
heiu in tail. or Others in succession, reversion,
or remsinder.
Sec. 2. The position shall contsn iescrip-
of the estate to be Sold a clear stafement of the
interest Of the petitioner theirin, and COPY of
the viii, deed or other instrument ofxriting BY
which the estate is crested. All pezsou IN be-
ing who may be interested n the estate. or who
may, By the terms Of tie viii, deed OF ether in
srumeHt creazing tie entailment, thereafter be-
come interested therein y heir, spyersioner or
and If the names of any pers0Res Who ought 10
be made parties are unknown to the petitioner,
or If the residence of any such party is unknown
to the petitioner, the TACT shall oe verified BY
the affidavit of the petitioner, and the sale may
be ordered notwithstanding such names and
residences NAV be unknown. The same no.
f;ee shall be given 10 defendants Of the applica-
tion for petitions of administrators for author-
ity 10 sell real estate for the payment of debts
Sec. g. H,upon the hearing of the petition,
it shall be made to appear TO the court BY Salts
factory proof, that sale Of the estate would be
Tor 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. reversioR, or re-
inainder, and the persons to make the same;
and such sale shall vest the estate sold in the
purchaser, freed from the entailment or limita-
tion over.
Sec. 4. All parties in interest may appear
voluntarily and consent in writing to such sale,
aRd testamentary guardians, and guardians ap-
pointed by the court Of probate. may assent in
the place of their wards to the sale.
Sec 5. All such sales shall be reported to
the court authorizing the same, and If, on exam
inztion thereof it shall appear that such sale
has been fairly conducted and made, and that
the price obtained is the reasonable value of the
estate sold, the court shall confirm the sale and
authorize and direct deed Of conveyance ofthe
premises sold. to be made to the purchaser or
purchasers on payment Of the purchase money,
q on securing the payment thereof, in such
manRer as shai. be approved by the court.
See 6. All moneys arising from sales under
this act SHALL for purposes of descent succession,
reserslon, or remainder, have the same charac-
ter, and be governed By the same principles, as
the estate sold, and shall pass, according to the
terms Of the deed, viii, or other instrument ere
sting the estate.
Sec. Z. Moneys arising from such sales shall,
under the direction and approval Of the court,
be invested in the certificate of the funded debt
OF this state, or or the United States in bonds
secured by mortgage on unineumbered real
estate. situated in the proper county, of double
the value of the moneys secured thereby, exclu-
sive of buildings and other Improvements. and
of timber, mines and minerals. The court shall
appoint competent trustees to invest the mo-
neys aforesaid. and manage the same, who shall,
from time to time, report to the court their pro-
eeediRgs and the condition of the fund; and the
court shan require of such trustees security for
the faithful discharge of their duty; may, from
time to time, require additional security, and
may remove such trustees for cause shown, or
reasonable apprehension thereof; may accept
the resignation of a trustee, and fill vacancies
by new appointment-
Sec. 8. The net income accrueing 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 expenses Of the invettment
and management cf the fund, shall be paid by
the person or persons entitled to the income
thereof
See. 9. Upon like proceedings, as hereinbe-
fore authorized, the court may, in their discre-
tion, authorize and direct that such estates be
leased for term of years. renewable or other
wise, as may appear most benefc,al, and upon
such terms as may appear just AID equitable,
the rents and profits to be paid to the person or
persons who might otherwise be entitled to the
use and occupancy of the estate, or the income
thereof.
Sec. 10. The costs of the petition and sale,
or lease, shall be paid BY the person or persons
entitled TO the income aforesaid,
Sec. IL. This act shall take effect on its
passage.
WILLIAM B. WOODS,
Speaker Of the House of Representatives.
MARTIN WE1KER.
President of the Senate.
April 4, 1859.