Page:United States Statutes at Large Volume 31.djvu/455

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FIFTY-SIXTH CONGRESS. Sess. I. Ch. 786. 1900. 403 Sec. 424. The referees may take separate mortgages and other 0,§e§ 's§,§,j‘§,§€; **,1*,;;*, securities for the whole or convenient portions of the purchase money wken by reiereés. of such parts of the property as are directed by the court to be sold on credit, in the name of the clerk of the court, and his successor in oflice; and for the shares of any known owner of full age, in the name of such owner. Sec. 425. When the estate of any tenant for life or years, in any egsmmtglojgfdlifs 05 undivided part of the property in question, shall have been admitted gr. ’ Sp°s° by the parties, or ascertained by the court to be existing at the time of the order of sale, and the person entitled to such estate shall have been made a party to the action, such estate may be first set off out of any part of the property, and a sale made of such parcel, subject to the prior unsold estate of such tenant therein; but if in the judgment of the court a due regard to the interest of all the arties require that sucéh estate bg also sold, the sale} may be so ordere<§f C { Ec. 426. ny erson entitle to an estate for i e or years in an °mP°“s“Fi°“ _ °' undivided part of,) the property, whose estates shall have been solely: sgi? mm m emot shall be entitled to receive such sum in gross as may be deemed upon principles of law applicable to annuities a reasonable satisfaction for such estate, and w `1ch the person so entitled shall consent to acce t instead thereof, by an instrument duly acknowledged or roved in the sam; manner as deeds for the purpose of record, and filed with the cler . Sec. 427. If such consent be not given, as provided in the last pre- c0§g>¤ig¤tg§;g;7$§é ceding section, before the report of sale, the court shall ascertain and me mms or such as- _ determine what proportion of the proceeds of the sale, after deducting S“‘“*‘ expenses, will be a just and reasonable sum to be invested for the benefit of the person entitled to such estate for life or years, and shall order the same to be deposited in court for that purpose. Sec. 428. The proportion of the proceeds of the sale to be invested m§1*;§;O§’;f{*;i §§{j;· as provided in the section last preceding shall be ascertained and ` determined in the several cases as follows: First. If an estate in dower be included in the order of sale, its proportion shall be one-third of the proceeds of the sale of the property,. or of the sale of the undivided share in such property upon which the claim of dower existed; Second. If an estate by the curtesy, or other estate for life or years, be included in the order of sale, its proportion shall be the whole roceeds of the sale of the property, or of the sale of the undivided sfiare thereof in which such estate may be. And in all cases the proportion of the expenses of the proceeding shall be deducted from the proceeds of the sale. ' Sec. 429. If the persons entitled to such estate for life or years be teigggtgsogouggoy; unknown, the court shall provide for the protection of. their rights in wma. P the same manner, as far as may be, as i they were known and had appeared. ‘ , ` E0. 430. In all cases of sales in partition, when it ap ears that a ge§°h$§;g;tS°°¤,f§; married woman has an inchoate right of dower in any of the property provided mr. ’ sold, or that any person has a vested or contingent_ future right or estate therein, the court shall ascertain and settle the proportional value of such inchoate. contin ent, or-vested right or estate according to the principles of law applicable to annuities and survivorship, and shall direct such proportion of the proceeds of sale to be invested, secured, or paid over in such manner as to protect the rights and interests of the parties. Sec. 431. In all cases of sales of property, the terms shall be made m§§;m,§,§(§wSg‘€,,‘°,,§§ known at the time; and if the premises consist of distinct farms or time ofsale lots, they shall be sold separately, or otherwise if the court so directs. SEO. 432. Neither of the referees, nor any person for the benefit of ch§§§’°“S‘*°‘ ‘° P‘“‘