The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1859-05-25
April I, 1859

No. 1871 a. AN ACT
To provide for the sale or lease of estates tail in
certain cases.
Section |. BE it enacted by the General Assem-
bly, Of the State of Ohio, That it shall be compe.
tent for the courts of common pleas of this state
on application Of the first donce in tail, Or for life;
TO authorize the sale of cutailed estates, and es
tatcs for life with remainder over to any other per.
SON or persons, when satisfied that the sale would
be for the benefit of the applicant, and do no sub.
s%tantlal injury to the heirs in tail, or others in sue
cesslOn, rcrcrsion, or remainder.
Sec. :. The petition shall contain a description
of the estate to be sold, a clear statement Of the
interest Of the petitioner therein, a copy of the
will, deed or other instrument of writing BY which
the estate is created. All persons in being whl
may be interested in the estate, or who may, by
the terms Of the will, deed or other instrument
creating the entailnent, thereafter becoipe utter.
cstcd therein as heir, rcveTsioner Or otherwise,
shan be made parties to the petition; aud if the
names Of any persons who ought to be made par
ties are unknown to the petitioner, or if the resi-.
dence OF any such party is unknown to the peti.
TONER, the fact shall be verified by the affidavit Of
the petitioner, and the sale may be ordered not,
withstaudin2 such names and residences may be
unknown. The same notice shall be given to dc.
PENDANTS, 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, .. II, upon the hearing of the petition, it
shall be made to appear to the court by satistacto-
ny proof, that u sale of the estate would be for the
benefit of the first donee in tail, or for life, aud do
no substantial injury to the heirs in tail, or others
in succession, or remainder, the court shall direct
. sale of tho 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 en-
tailnent or limitation over.
Sec. 1. All parties in interest may appear vol
~ n, tIr n"1 ..,-a,t =. - - ..I ~
testamentary guardians, and guardians appointed
by the court OF probate, may assent in the place of
their wards to the sale.
Sec, 3. All such sales shall be reported to the
court authorizing the same, and il, on examination
thereof, it shall appear that such sale has been fair.
iy conducted and made, and that the price obtain
cd is the reasonable value of the estate sold, the
court shall confirm the sale and authorize and di-
rect a deed OF conveyance of the premises sold, TO
be made to the purchaser or purchasers on pay
ment OF the purchase money, or on securing the
payment thereof, in such manner as shall be APP
proved by the court.
Sec. 6. All moneys arising from 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 es-
tate sold, and shall pass, according to the terms of
the deed, will, or other instrument creating the es
tate.
Sec. Z. Moneys arising from such sales shall,
under the direction and approval OF the court, be
invested i'll the certificates Of the funded debt OF
this state, or Of the United States, or in bonds Sc.
cured BY mortgage or uuincumLered real estate,
situated in the proper counts, of double the value
OF the moneys secured thereby, exclusive Of build
lngs and other improvements, and Of timber.
mines and minerals. The court shall appoint com.
potent trustees to invest the moneys aforesaid, and
and manage the same, who 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 adj
dtIonai security, and may remove such trustees
Tor cause shown, or reasonable apprehension there
OF; may accept the resignation of trustee, and fill
vacancies by new appointment.
Sec. Z. The net income accruing from sales an-
thorized by this act, shall be paid to the person 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 investment and manage,
ment Of the fand, shall be paid BIZ the person Or
persons entitled 10 the income thereof.
Sec. $. Upon like proceedings, as hercinbefore
authorized, tue court may, IN their discretion. ati,
thorize and direct that such estates be leased for 4
term OF years, renewable or otherwise AZ may an.
pear most beneficial, and upon such terms as may
appear Just and equitable, the rents and profits Ia
be pad to the person Or persons who might other
wise be entitled to the use aud occupancy oil the
estate, or the income thereof.
Sec, 10. The costs Of the petition aud sale, or
lease, shall be paid by the person or persons enti-
tied to the income aforesaid.
Sec, II. This act shall take effect on its pas
sage,
WILLIAM b. WOODS,
Speaker Of the House Of Representatives.
~ MARTIN WELKliR,
President Of the Senate.
April 1, 1859.