The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1876-05-04
Act Relative to Assignees.

The following is correct copy of the
act relative to sales of real estate bv
assignees, passed by the Legislature of this
State at the present session. 1t was framed
and advocated by Senator Yerkes, and its
passage was mainly due to the efforts of
the Bucks county members.
An Act to enable Assignees, for the
benefit Of creditors, to make sales of Real
Estate encountered by liens
WHEREAS, 1t frequently occurs in as
! signment for the benefit of creditors where
the assignor is the owner of number of
tracts of land encountered to such an extent
that it is impossible to ascertain definitely
whether a sufficient amount can be realized
to discharge all the liens, whereby the titles
made by the assignees are regarded as
doubtful, and the assignees are thereby
unable to make advantageous sale of said
real estate {; therefore,
SECTION l. BE 1t enacted Iy the Senate
ant House Of Representatives. Of tie CoD,-
monreahh Of Pennsylvania IN General As
seneJly met, and It IS hereby enacted Jy the
authority Of tic same, That in all assign
ments for the benefit of creditors it shall
and may be lawful for the several courts
of common pleas of this Commonwealth,
upon application of the assignees of insolvent
debters, setting forth that the personal es-
tate is insufficient for the payment Of the
debts, and the real estate encountered with
liens to such an extent as to render it diff
cult to determine whether the same can be
sold for enough to pay all the liens as afore-
said to grant an order, where the said
court shall deem it for the manifest interest
of all parties, authorizing and empowering
the said assignees to make public sale Of
such real estate, or so much thereof as shall
be deemed necessary, at such place and
upon such terms as the said court shall
direct of which sale notice shall be given
twenty days prior thereto by hand bills
and publication in at least two newspapers
in the county where said lands are situated,
should two newspapers be published in the
county, one of which may be German, if
such be published in the county which
sale or sales, after being confirmed by said
, court, shall discharge all liens against the
real estate so sold, excepting that where
the lien of mortgage upon real estate is
or shall be prior to all other liens upon the
, same property, except other mortgages,
ground rents and the purchase money due
the Commonwealth the lien of such
mortgages shall not be destroyed or in any
way affected by any sale made by virtue or
authority of any sale made under the pro-
visions of this act, and the proceeds arising
therefrom shall be appropriated to liens
-extinguished by virtue of such sale accord
ing to their priority: Provtded, Before
said sale is authorized the assignee or
assignees shall file bond, with two APP
proved sureties in double the estimated
value of said real estate, conditioned for a
faithful appropriation of the proceeds there
of: And prorided further, That the court
shall require such proof of notice Of such
intended application to have been given to
the lien creditors or their attorneys as said
court shall deem sufficient to give said lien
creditors an opportunity to be heard touch
ing said order of sale.
, SECTION 2. Whenever said court shall
grant an order of sale as aforesid, said court
may order a stay of execution on all liens
that may be divested by such sale by the
assignee until said order shall be expended
or revoked Provided, That it shall be law
full for said court to extend any order OF
sale, granted as aforesaid, or to award an
alias or pluries order of sale.
SECTION 3. Whenever any such assignee
shall make sale, either public or private, Of
any real estate, assigned under the deed OF
/ assignments, and the assignor or any person
/ should refuse to surrender possession of the
f real estate so sold to the purchaser at said
: sale, it shall thereupon be lawful for said
purchaser, after having fully complied with
the terms of said sale, to file a petition III
r the court of common pleas of the proper
e county setting forth the facts, and the said
{ court shall thereupon direct notice of the
e filing of such petition, to be served upon
Y the person in possession, and requiring HIN
| or her to show cause, within ten days from
: the time of service of such notice, why
5 possession should not be surrendered tC
e such purchaser. The court shall, upon the
: filing of such petition and answer, or if nc
answer be filed then upon the expiration o
e the ten days aforesaid, hear and determine
1 whether or not the purchaser is entitled tt
: possession, and if so make an order direct
: ing the sheriff to deliver to said purchase
possession of the premises: PrOuiie1
: That the liens Of mechanics and materia
e men shall not in any way be inyalidated o.
! impaired by any of the provisions of thu
v act, but the same shall in all cases b.