M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1859-06-16

is created. Al persons in being who may
be interested in the estate, or who may by
the terms of the will, deed or other nstru-
lnent creating the entlilmcnt, thereafter be-
come interested therein as heir, rever5loner or
otherwise. shall be made parties to the peu-
tion; and If the names Of any persons who
ought to be made parties are unknown to the
petitioner, or !r the residence Of any such
patty rs unknown TO the peii1ioGer, the
.laet shall. be sveIi6ed Dy tho siiduyt OF
the petitioner, and the sale may he or.
dercd notwithstanding suchnamcs and. res
licences may be unknown. The same notice
shall be given to delendlnts, of the applica-
ton for tie sale, as now is or may hereafter
BE- required in cases Of petitions OF admins
traitors for authority to sell real estate lorthe
payment of debts.
Sec. 9. If, uron the hearing Of the pri-
ton, it shall be made to appear to the count
by satisfactory proof, that sale ofth' estate
would be for the benefit Of the first donec in
tail, or for life, and do no substantial injury to
the heirs in tail or others in succession, rC-
version, orremainder, the court shall direct a
sale Of the estate TO be made, and the manner
thereof; and shalt appoint some suitable per-
son or persons to make the same; and auch
sale shall vest The estate sold in the pu.cba.
ser. freed lfom the ent0ilment or limitation
over.
Sec. 4. Al parties in interest may appear
voluntarily aud consent in writing to such
sale, and tes,smen,ary guardians, and guar
dians appointed by he court Of probate, may
assent in the p lace ofthcr wards to the sale,
Sec. s. Al! such sales shall be reported to
the court authorizing the SINE, Ond il, on
examination thereof, it shall appear thatslch
sale has been fairly conducted and made and
that the price obtained is the reasonab'cval-
ne Of the estate sold, the court shall confirm
the sale and authorize and direct deed Of
conveyance ofth3 premises sold, to be made
to The purchaser or purchasers on payment Of
The purchase money. or on securing the p1y-
ment thereof, in such manner as shal! beap.
proved by the court.
Sec 6. All moneys arising from socs un.
der this act shall, for purposes Of descent,
succession, reycrsion, 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.
Sc. 7. Moneys 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 Uni
ted States, or in bonds secured by mougl lge
on unincumbeyed real estate, situated in The
proper county, OF double Tie value OF the
MONEYS secured thereby exclusive Of build.
inG3 and o'her imprOy aments, and of timber.
mines and minerals. The court shall appoint
competent trustees to invest the none s
aioaasad and manage the same, who shall
from time to time, report to the court theii
proceedings and the condition olthe fund; and
the court shall require Of such trustees seCuri.
ty for the faithful discharge of their duty; may
from time 10 time require aduitionals,curity
and may remove such trustees or cause
shown, unreasonable apprehension thereoIi
may accept the resignation of a trustee, and
ill vacancies by new appointment.
Sec. s. The net income accrung from
sales authorized by this act. shfll be paid ia
the person or persons who would be cnttIeI
to The use or income of the estate were the
same unsold; and all taxes, and the expenses
of the investment and management Of the
fund, shall be paid by the person or persons
entitled to the income thereof
Sec 0. Upon like proceedings, as herein
before authorized, lhe court may, in their dis
or ton, authorize and direct that such estates
be leased for a term of years; renewable CT
otherwise, as nay appear beneficial, and
upon such terms as may appear just and
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 costsof the petition and sale,
or lease, shall be paid by the person or per-
sons entitled to the income aforesaid.
Sec. II. This act shall take effect on its
passage.
WILLIAM b. WOODS,
Speaker Of the House of Representatives.
MARTIN WELKER,
President Of the Senate.
April 4, 1859.