Year: 1860

SEC. L. De u eHuCteu Oy We UeIGSTOl
assembly Of the State Of Io,oa, That nc
goods, chattels, lands or tenements shall
be sold on execution issued from any
Court, for less than thirds of the
fair value thereof, at the time of sale, ex-
elusive of all liens, mortgages or other
membranes thereon, except as herein
after provided.


Sec. 2. The officer to whom any such
writ shall be delivered to be executed,
shall, before sale, unless otherwise direc t.
ed by the execution debtor, proceed to
ascertain the fair value of such property.


Sec. 3. For the purpose of ascertain
ing the value Of the property to be sold
under execution, two disinterested house
holders of the neighborhood shall be Sc
lected as appraisers; one of whom shall
be chosen by the execution debtor, and
the other by the plaintiff, his attorney or
agent, or, in the absence of the plaintiff,
his agent or attorney, by the officer exc
cutting such writ; and said appraisers
shall forthwith proceed to value such pro-
perty according to its fair value at the
time, and in case Of their disagreement
as to such value, they shall choose an
other disinterested householder of the
neighborhood, and with his assistant ce
they shall complete such valuation. The
valuation to be sworn to by the apprais-
ers.


SEC. 4. If the execution debtor shall
fail to choose an appraiser within three
days after notice of such levy served ON
him or his attorney, by copy or reading
such officer shall choose an appraiser for
him who shall proceed in all respects as
if he had been chosen by the execution
debtor


SEC. 5. In case any of said appraisers
shall fail TO complete such valuation, the
plaintiff, his agent or attorney, or the of
ticer in their absence, or the execution
debtor, or the appraisers, if two remain,
who were first chosen, as the case may
be, shall choose an appraiser in the place
of the one before chosen by him or them,
and refusing TO act or if such execution
debtor shall in such case fail to choose
such appraiser within two days after no.
tice of such refusal to act by the apprais-
er chosen by him, such officer shall choose
an appraiser for him, and any appraiser
thus chosen shall Immediately proceed in
all respects as if he had been chosen in
the first instance.


SEC. 6. Upon the completion OF such
appraisement the said appraisers shall re-
turn to the officer a schedule Of the pro-
perty appraised, with the value of each
lot, tract, or parcel of real estate, and of
the several articles of personal property
which may have been levied upon by vir-
tue of such execution. Whenever any
property thus appraised cannot be sold
for two thirds of its valuation, it shall be
the duty of the officer by whom such
levy shall have been made, when he re-
turns such execution, to return such ap-
praisement Herewith. stating in his re-
turn such failure TO sell.


SEC. !. Such levy and return shall
constitute and remain lien on the pro-
perty thus remaining unsold, and a writ
of penditioni erponas may issue for the
sale thereof as in other cases.


Sec. s. When any such writ Of rend,-
tom erponas shall issue. either party may
have revalualion Of the property lev
led upon, by paying the expen ses OF such
evaluation.


Sec. 8. The officer to whom such ex
ecution may be directed, shall proceed to
sell without unnecessary delay, but shall
not offer the same property more than
once, under the same execution, unless
the execution creditor will pay the cost
and charges of such additional offer 10
sell.


SEC. 10. Execution shall not issue on
any judgment more frequently than once
IN six months, unless at the cost and
charge Of the plaintiff.


SEC. IL. Property conveyed by a
deblor with intent to hinder or delay col.
lection or defraud creditors, shall be sold
without appraisement.


SEC. II. 1t shall be lawful for any
judgment debtor to have his real estate
sold on execution subject 10 redemption
as is provided by law, and in case he so
elects before levy on the same by the
officer having control of the wit, and
files his notice in writing, Of election,
with the Clerk Of tho Court issuing the
writ, the officer shall proceed TO sell sub.
ject to redemption, and shall execute to
the purchaser a certificate Of purchase.


SEC. l3. When real estate is sold al
Ter appraisement according 10 this act.
the officer, on the payment of the pur-
chase money, shall execute 10 the pur-
chaser or purchasers, deed or deeds,
which shall convey all the interest on
which the judgment operated As lien, or
which the debtor acquired after the judg-
ment and before the sale. and the said
deed when executed according 10 law
shall be presumptive evidence of the reg
ulari,y OF the judgment and sale.


SKc. a. The appraisers provided fol
in this act shall be allowed filly cents ir
each case for their services. Provided
that in all cases where the time necessa
rily required exceeds five hours. they
shall be allowed an additional conlpen sa
ton of ten cents per hour.


SEC. Is. All acts or parts Of acts in
consistent with the provisions of this &C
are hereby repealed.


JoHN EDWARDS.
Speaker Of the House OF Representatives