The Penn's Grove record., 1891-06-05

| An Act to amend the act entitled An act empower
ing executors aud trustcrs under certain ciEcurn
| stances 10 sell or mortgage real estate approved
March 3lst, one thousand eight hundred and
ninety.
l.. lie it enacted by fhs Senate and General As
sembly Of the Stale Of New jersey. That section
| one of the act 10 which this is amcndat 1y be and
The same hereby is amended so as TO read as fol-
lows:
l.. De IL enacted by the Senate and General As
aembly of the State of New Jersey. That whenever,
by any last will or testament, lands and real estate
arc devised to. or whenever by any deed lands are
conveyed TO or held by any executor or executors,
| trustee. or trustees, in trust for any person or per
sons for life until the happening of some event in
such will or deed named. and SAID lands so devised
or conveyed shall at the time of taking, effect of
| such devise or conveyance be encountered with any
mortgage. or charged with the payment of any leg
aey. or subject to ANY Judgment, tax or assessment.
or shall thereafter become chargeablc with or subject
to any Judgment TAX or assessment, for the payment
of which mortgage, legacy, Judgment. tax or as
sessmcnt and interest thereon no adequate provis-
ion lie made in such win. or afforded by the estate of
the ~testator or provided for In such deed, except
out of the income from said trade and real estate;
and the same have been sold for such tax or ASSESS
ment by virtue Of auy laws of this state. or shall be
liable 10 be sold to raise, pay. satisfy and discharge
such mortgage, legacy, judgement, tax or assess-
ment. or interest thereon. whereby the interest of
the cestuis que trust. or Of the owners or owner of
the particular ertate, or of the estate in remainder or
reversion in said lands may be injured or impaired.
1t shall be lawful for the court Of chancery. upon
application made to it by petition by the executors
! vi ttt ~ W ttuttNG hAnitl III rtitN IN
or deed, or tho survivors or survivor OF them, or
any duly appointed or otherwise legally authorized
| person standing and acting in their place. or by any
cestnis que trust. or by any one of the owners
aforesaid. and upon consideration of the circum-
stances of the case and notice to all the parties in
interest, To order and decree said executors or
executor. trustees or trustee, or survivor of them.
or any dqly appointed or otherwise legally author
lied person standing and acting in their place, to
| sell and convey or mort gage said lands, Or n pert
thereof. whichever. under the circumstances of the
case, shall appear to said court to be most beneficial
to the parties in interest. for the purpose of raising
money to pay, satisfy and discharge said mortgage,
legacy, Judgment, tax or assessment and Interest
thereon, together with the costs and expenses at
| tending said sale Of the procuremcnts of said mort
! gage loan: and wherever such decree shall be made.
the raid executors or executor. trustees or trustee,
or the survivors or survivor Of them. or duly APP
poii ted or otherwise legally authorized person
standing and acting In their place. may sell and
convey or mortgage SAID lands, or such part thereof
rs may be necessary for the purpose aforesaid, for
such price or In such an amount as said court shall
in and by said decree direct: and such sale OF mort
gage of said lands shall he free, clear and dis
charged OF any interest of said cestuis que trust
and OF ssid owners therein and the surplus arising
therefroln, in case OF a sale, after paying said
mortgage, legacy. Judgment, tax or assessment,
coats and expenses attending said sale, shall be
| held by said executors or executor, trustees or trus-
tee, subject 10 the provisions Of said will or deed
ri ting 10 said lands, in such manner as The chan
ccllor shall direct.
9, And be it enacted. That this act shall take
effect Immediately.
| Approyed April IA, 1891,