The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1876-04-13
An Important New Law.

An act intended To enable assignees, for
the benefit of creditors tn make sales of
real estate encumbered by liens. has passed
the Legislature and received the Governor $
approval. It's provisions are as follows:
SECTION l. That in all assignments for
the benefit Of creditors, it shall and may
he lawful for the several Courts of Common
Pleas Of this Commonwealth, upon applica-
ton of the assignees of inSolvent debtors,
scttin" forth that the personal estate * in
sufficient for the payment of debts. and the
real estate encumbered with liens tn such
an extent as to render it difficult to deter
mine whether the same can be sold for en-
-h to pay for all the liens rs aforrs nd tn
grant an order where the said court shall
deem it for the manifest interest of all par
ties, authorizing ani empowering the said
assi-nees to make public sale of such real
estate or so much thereof rs shall be deemed
necessary at such place. and upon such
terms as the said court shall direct, of which
sale notice shall be given twerty days prior
thereto by handbills, and publication in at
least two newspapers in the county where
said lands are situated, should two newspa
pers be published in the county, one of
which may be German, such be published
in the county, which sale or sales after be-
i'm confirmed by s.i court shall discharge
all liens against the real estate So sold, ex
cepting that where the lien of mortgage
upon real estate is or shall lie prior to all
other liens upon the same property except
other mortgages, ground rents, and the pur
4 IL ~ 4, 81,
lien Of such mortgages shall MT he destroyed
or in any way affected by any sale made by
virtue or authority of any sale made under
the provisions Of this act, and the proceeds
arising therefrum shall be appropriated to
liens extinguished by virtue Of such sale
according to their priority.
Prorided, Before said sale is authorized
the assignee or asst gnees shall file a bond
with two approved sureties in double the
estimated value of said real estate condi-
toned for a faithful appropriation Of the
proceeds thereof.
dad provated further, That the court
shall require such proof of notice of such
Intended application to have been given t"
the lien creditors or their attorneys as said
creditors an opportunity to be heard touch
ing said order of sale.
SECTION 2. Whenever said court shall
grant an order of sale as aforesaid, said
court may order stay of execution on all
liens that may be divested by such sale by
the assignee until said order shall be ex-
pended or revoked.
ProUi'ed, That it shall be lawful for said
court to extend any order granted as afore-
said or to award an alias Or plurcs 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
asst ignment and the assi.nur or any person
should refuse to surrender possession Of the
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 petition in
the Court of Common Pleas of the proper
county, setting forth the facts, and the said
court shall thereupon direct notice of the
fling of such petition to be served upon the
person in possession, and requiring him or
her to show cause within ten days from the
time of service of such notice, why passes
sion should not be surrendered to such pur-
chaser. The court shall upon the filing of
such petition and answer, or if no answer
be filed, then upon the expiration of the
ten DAYS aforesaid hear and determine whe-
ther or not the purchaser is entitled pos
session and if so, make an order directing
the Sheriff to deliver to said purchaser pos
session of the premises.
Iprovide,, That the liens of mechanics
and material men shall not in any way be
invalidated or impaired by any of the pro-
visions of this act, but the same shall III all
cases be entitled to receive out of the pro-
ceeds of sale whatever sum they may be le
gally entitled to according to right and
priority of lien.
HantanuiaI Eissas-(lna bundred with