defeasible as aforesaid: And provided, That the purchase money or rent reserved 18 April 1853 § 5. shall be a lien on the premises sold or let, until fully paid, according to the decree of the court. P. L. 508. Purchase-money to be a lien. Purchase-money 6. The purchase money or mortgage money, ground or other rent reserved, shall, Ibid. § 6. in all respects, be substituted for the real estate sold, mortgaged or let, as regards the enjoyment and ownership thereof, after the payment of liens, and shall be held to be held for the for or applied to the use and benefit of the same persons, and for the same estate same uses as the and interest, present or future, vested, contingent or executory, as the real estate real estate. sold, mortgaged or let, had been held, (e) except only such remainders after an entailment, or contingent remainders, as shall have been barred or defeated as aforesaid; and those entitled to a present interest in such real estate shall receive the interest of the proceeds, or rents thereof, unless expressly directed to accumulate: Provided, That no principal moneys raised by sale or mortgage as aforesaid, shall be expended for any other purpose than for the payment of liens upon or the improvement of the same real estate, when mortgaged, or other real estate, when held for the same uses and persons, unless the same be required for the maintenance or education of parties having the like interests, vested or expectant, and can be equally and equitably so applied, and without diminution of the capital that may of right become the property of parties having unbarred interests or title in remainder, or by executory devise. And it shall be the duty of the court to decree To be applied the proper application of all purchase or mortgage-moneys and rents, with the aid the courts. of an auditor, when deemed necessary, to the discharge of liens, and to parties interested, as and when they may be entitled. And before any decree shall be Parties to give executed, the person or persons entrusted to execute the same shall give adequate security. security to the commonwealth, to be approved by the court, conditioned for the faithful execution of the trust, and proper application of all moneys to be received according to the trust and decree of the court; which security shall inure to the benefit of all parties interested; and such security being so given, no purchaser or lessee shall be bound to see to the application of the purchase-money or rents, or be, in any manner, liable to or affected by the former trusts or limitations upon the premises. under direction of Ibid. § 7. in certain cases. 7. It shall be lawful for trustees, guardians, committees, married women and corporations, in all the cases aforesaid, under the decree of the court as aforesaid, Powers of trustees, and with the like effect and indemnity to them in acting thereunder, to make and &c., to make and take conveyances, by deed acknowledged in court, without public sale, in order to take conveyances square and adjust lines between adjoining owners; to make and take conveyances, to perfect the partition of real estate held in joint-tenancy, coparcenary or in common with others; (g) to purchase other real estate when needful to that already owned by any such party, or useful to the business thereupon carried on; or when necessary to protect any security or rent held, or property exposed to judicial sale: Provided, That no corporation shall be so authorized to purchase beyond its charter license: And provided, That no purchase or sale by authority of this act shall change Course of descent not to be changed. the course of descent or transmission of any property, changed in its nature by virtue thereof, as respects persons who are not of competent ability to dispose of it.(h) And all persons entrusted with moneys raised under this act shall be authorized to file their accounts in the court whence their authority was derived, and Trustees may ac upon such notice as the court may order to parties interested; or, (and) after being count and be discharged. audited, if deemed necessary, or by consent of all parties interested, such accounts may be finally confirmed, and upon payment of the balance, as may be decreed by the court, such accounts (accountants) may be fully discharged from the trust. 8. In all cases and proceedings under this act, appeals may be taken to the supreme court from the orphans' court, as now provided by law in other cases, and in the court of common pleas, as provided in equity cases, in the respective counties of the state: Provided, That if any decree be carried into execution, before the appeal be perfected, and written notice thereof given to any vendee, mortgagee or lessee, any reversal thereof shall not affect the right or title of such vendee, mortgagee or lessee, but the purchase or mortgage-moneys or rents shall stand in lieu of the premises sold or mortgaged, or leased, so far as thus incumbered: Provided further, That before any decree be carried into effect, to afford such indemnity, twenty days be allowed from its entry, to take and perfect such appeal. Ibid. § 8. Appeals regulated. Ibid. § 9. 9. No person or persons shall, after the passing of this act, by any deed, will or otherwise, (i) settle or dispose of any real or personal property, so and in such Trusts for accumumanner that the rents, issues, interests or profits thereof shall be wholly or par- lation regulated. tially accumulated, for any longer term than the life or lives of any such grantor or grantors, settler or settlers, or testator, and the term of twenty-one years from (e) See Grenawalt's Appeal, 37 P. S. 95. Packer's Estate, 3 Brewst. 527. (g) See Wilson's Estate, 2 W. N. C. 631. (The proceeds of the sale of a minor's land, sold under this act, descend as land, not as personalty, Holmes's Appeal, 53 P. S. 339. And see Davis's Appeal, 60 Ibid. 118. (i) Carson v. Rutter, 12 W. N. C. 161. Eberly's Appeal, 110 P. S. 95. Grim's Appeal, 109 Ibid. 391. Hirsh's Estate, 17 W. N. C. 28. Schwartz's Appeal, 119 P. S. 337. Brubaker's Appeal, 1 Mona. 447. Biddle's Appeal, 99 P. S. 525. P. L. 503. 18 April 1858 § 9. the death of any such grantor, settler or testator; (k) that is to say, only after such decease during the minority or respective minorities, with allowance for the period of gestation of any person or persons who, under the uses or trusts of the deed, will or other assurance directing such accumulation, would, for the time being if of full age, be entitled unto the rents, issues, interests and profits so directed to accumulate. And in every case where any accumulation shall be directed otherwise than as aforesaid, such direction shall be null and void, in so far as it shall exceed the limits of this act;(1) and the rents, issues, interests and profits so directed to be accumulated, contrary to the provisions of this act, shall go to and be received by such person or persons as would have been entitled thereto, if such accumulation had not been directed:(m) Provided, That any donation, bequest or devise for any literary, scientific, charitable or religious purpose, shall not come within the prohibition of this section; which shall take effect and be in force, as well in respect to wills heretofore made by persons yet living and of competent mind, as in reallowance for the spect to wills hereafter to be made: And provided, That notwithstanding any direction to accumulate rents, issues, interest and profits, for the benefit of any minor or minors, it shall be lawful for the proper court as aforesaid, on the application of for accumulation. the guardian, where there shall be no other means for maintenance or education, to decree an adequate allowance for such purpose, but in such manner as to make an equal distribution among those having equal rights or expectancies, whether, at the time being, minors or of lawful age. Courts may decree maintenance and education, notwithstanding trust Ibid. § 10. Directions for secu rity to apply to all cases of sale, &c., of real estate by or der of any court. No decree to be made in the absence of a law judge. 18 April 1854 § 1. P. L. 368. Deeds may be acknowledged in court of the domicil of the trustee, &c. Certificate thereof to be read in the court of the situs, and there recorded. Ibid. § 2. may be made in ground-rents. 10. The directions given in the 6th section of this act, in regard to the security to be given in cases of sales, mortgage or letting of real estate, and the condition of the bond or security therein prescribed, shall apply to all cases of sales or mortgage of real estate by order of the courts of this commonwealth:(n) And provided, That no decree for the sale, mortgaging or letting of any real estate, under the provisions of this act, shall be made, except when the president of the court, or the law-judge or judges thereof, shall be present; and that the acts in relation to special courts, where the president judge shall be interested, related to parties in interest, or otherwise incapable of acting, shall apply to all such provisions. 11. In all cases of sales, mortgages, leasing and letting on ground-rent, of any real estate authorized under the act to which this is a supplement, where the trustees, executors, administrators, guardians, committees or other persons authorized to make such sale, mortgage or lease, shall reside out of the county where such real estate is situate, the deed, mortgage or lease thereof may be acknowledged before the court of common pleas or orphans' court of any county of this state, where the person or persons executing the same may reside, and certified under the seal of such court to have been so acknowledged; and such certificate of acknowledgment shall be read in open court of the county where the real estate is situate, and entered upon the records thereof; and upon being so entered, shall have the same effect, as if the deed, mortgage or lease had been acknowledged before said court, as now required by law. 12. It shall and may be lawful for any trustee, committee, guardian or other When investments person acting in a fiduciary capacity, to invest trust-moneys in ground-rents, or other real estate, by leave of the proper court, under proceedings as provided in the act to which this is a supplement: Provided, That it shall be the opinion of the court, that such investment will be for the advantage of the estate; and no change (shall) be made in the course of succession, by such change of investment, as regards the heirs or next of kin of the cestui que trust.(o) Ibid. § 3. Courts may confirm sales, &c., made without authority. 27 April 1855 § 5. P. L. 869. 13. In all cases wherein any of the courts of this commonwealth might have authorized any sale or conveyance, or letting on ground-rent or otherwise, and such sale, conveyance or letting may have been made, without the leave of such court, it shall be lawful for such court, if approving of such sale or conveyance or letting, to approve, ratify and confirm the same, with the same effect, as if such decree had preceded such sale, conveyance or letting.(p) 14. Under the act of the 18th day of April 1853, entitled "An act relating to the sale and conveyance of real estate," whenever the estate shall have been Jurisdiction where derived partly by deed and partly by descent or will, either the court of common title is partly by deed and partly by sale or lease thereof. pleas or the orphans' court may entertain jurisdiction of the proceeding to make descent or will. 21 April 1856 § 1. P. L. 486. 15. In all cases where sales of the real estate of lunatics have been made under the act of the 18th of April 1853, entitled "An act relating to the sale and conveyance of real estate under a decree of the court of common pleas," the same estates confirined. shall be valid and effectual, notwithstanding such real estate may have been derived by descent or will. Sale of lunatics' (k) See Washington's Estate, 75 P. S. 102; s. c. 8 Phila. 182. A trust which by no possibility can last for a longer period than a life or lives in being, and twenty-one years after, does not violate the rule against perpetuities. Phillips's Appeal, 93 P. S. 45. (1) See Brown v. Williamson's Executors, 36 P. S. 338. Butler v. Butler, 9 Phila. 269. (m) See Stille's Estate, 1 W. N. C. 249; s. c. 4 Ibid. 42. Sergeant's Estate, 11 Phila. 8. Mitcheson's Estate, 11 W. N. C. 549. Thouron's Estate, 39 L. I. 90. Grim's Appeal, 109 P. S. 391. (n) See Dixey's Executors v. Laning, 49 P. S. 143. (0) Davis's Appeal, 60 P. S. 118. (p) Charlton's Estate, 12 Phila. 102. Estate, Ibid. 161. Bowker's 1 May 1861 § 2. P. L. 431. 16. Where authority is or shall be given by decree of court to trustees or other persons, to sell real estate, and any such trustees, or other persons authorized, shall have died, resigned or ceased to act, before a sale is effected, or a deed exe- Surviving trustees cuted, in all such cases, sales may be effected and a deed executed by the surviv- may sell and coning or succeeding trustee or trustees, or other persons, with as full effect, in all vey. particulars, as if effected or executed by the persons acting in the trust, or other office, at the time a sale was originally decreed. Every deed made in pursuance Effect of deed. of and agreeably to the provisions of this act, shall vest the property therein described, in the grantee, as fully and effectually as if the same had been made by all the persons who may have sold any such estate circumstanced as aforesaid. P. L. 187. out of the state. 17. In all cases of sales, mortgages, leasing and letting on ground-rent of any 1 April 1863 § 1. real estate authorized by the act to which this is a further supplement, when the trustees, executors, administrators, guardians, committees or other persons author- Acknowledgments ized to make such sale, mortgage or lease, shall reside out of the state where such by persons residing real estate is situate, the deed, mortgage or lease thereof may be acknowledged in the manner prescribed by the third section of the act of assembly, entitled "An act relating to the authentication of letters of attorney, protests of notaries-public and assignments made out of the state, and to the acknowledgment of deeds," approved the 14th day of December, Anno Domini 1854: Provided, That such sale, mortgage or lease, &c., be first approved by the court, when such approval is necessary. P. L. 462. 18. It shall be lawful for trustees, guardians, committees, married women and 18 April 1864 § 1. corporations, in addition to the powers conferred by the seventh section of the act to which this is a supplement, under the decree of the proper court, and with Trustees may join the like effect, and indemnity to them in acting thereunder, to make and take, or in changing the location of private to join with owners of other undivided interests in making and taking conveyances, ways, by deed. by deed acknowledged in court, and without public sale, in order to change, in part or in whole, the route or location of any right of way or passage existing over with the approval and upon adjoining or other lands: Provided, The court shall be of opinion of the court. that it (is) for the interest and advantage of the owner or owners of the land to which such right of way is appurtenant, that such change of route or location be Security may be made: And provided further, That it shall be in the discretion of the court, in required. such cases, to require security, or not, from the person or persons aforesaid, making or taking such conveyances. 19. In all cases where sales, mortgagings or leasings of any real estate have 17 April 1866 § 1. heretofore been, or shall hereafter be made, under the provisions of an act P. L. 108. of assembly, entitled "An act relating to the sale and conveyance of real estate," Certain deeds to be approved the 18th day of April 1853, and the deeds, mortgages or leases made in valid. pursuance of such sales, mortgagings or leasing have been acknowledged before a justice of the peace, or other officer having authority under the laws of this commonwealth to take the acknowledgment of deeds and other instruments of writing therein, such deeds, mortgages and leases shall be as valid and effectual, to all intents and purposes, as if the same had been acknowledged before the court, and in the manner specified in said act. P. L. 48. 20. All deeds made to convey real estate, sold under an act passed the 18th day 28 March 1867 § 1. of April 1853, entitled "An act relating to the sale and conveyance of real estate," being acknowledged in court, and so certified to have been, by the clerk How deeds to be or prothonotary, as required by said act or supplements, may be recorded in the acknowledged. recorder of deeds' office, without other acknowledgment; and the security required Approval of by said act, may be approved by the proper court of like jurisdiction of the county security. 21. Private sales, made by order of court, under the said act of the 18th day of Ibid. § 2. April 1853, shall discharge the premises sold from the lien of the debts of the de- Effect of private cedent, except debts of record, and debts secured by mortgage: Provided, That sales under order the security required by said act shall have been duly entered. of court. P. L. 181. tees of married 22. In all cases wherein any real estate has been granted by any deed or deeds 11 May 1874 § 1. to any trustee or trustees, for the sole and separate use of any married woman, and wherein the deed or deeds to any such trustee or trustees for any such real Courts may conestate so granted to him or them, vested in his or their cestui que trust the full firm sales by trusbeneficial estate in fee-simple, without restriction or control imposed by the grantor women. or grantors in the terms of the deed or deeds, or an estate vested in another to be impaired or affected, and any such trustee or trustees have, prior to the first day of January, Anno Domini 1870, in good faith, and at the request or direction of his or their cestui que trust, sold or conveyed any such real estate by him or them so held, without the leave of the proper court, for a valuable and full consideration at the time thereof, and such consideration has been paid to his or their cestui que trust in good faith, and the purchaser or purchasers under any such sale or conveyance have in good faith entered into possession and enjoyment of any real estate so sold or conveyed, and have erected valuable and permanent buildings thereon, and have sold or conveyed the same, or any part thereof, to any other person or persons, it shall be competent for the courts of common pleas of P. L. 131. 11 May 1874 § 1. this commonwealth, and any such court having jurisdiction in any county of this commonwealth in which any such real estate so sold or conveyed is situate, is hereby given jurisdiction and authority, upon the petition or petitions, and upon proof of such facts, by any person or persons interested in such sale or conveyance, or in the title to any real estate so sold or conveyed, if approving of any such sale or conveyance, to approve, ratify and confirm the same, with the same effect as if the same had been sold or conveyed under the previous authority of such court, and to authorize and direct the proper person or persons to execute and deliver sufficient deed or deeds of release and confirmation to the person or persons, and his, her or their heirs and assigns claiming title to any real estate so sold or conveyed by, through or under any such sale or conveyance, with or without security, as the circumstances of the case may require, in the judgment and discretion of the court: Provided, That notice shall be given to all parties in interest, either personal or by publication, as the court may direct. ⚫ 8 June 1874 § 1. P. L. 277. How lease of mineral lands may be made. 28 April 1876 § 1. P. L. 50. valid. 23. Whenever, under the provisions of the aforesaid act of April 18th, 1853, and the several supplements thereto, the courts of this commonwealth or any of them, have power to decree a lease of lands for mining purposes, it shall be further lawful for the said courts to order and decree that such lands may be so combined and consolidated with other adjoining lands, as to form one tract in which the several persons or parties so combining and consolidating shall become seised of undivided interests, proportionate to their several divided interests before such combination and consolidation, and that the rents or royalties to be received under such lease shall be in the like proportions. 24. Whenever, in pursuance of proceedings in the orphans' court, or court of common pleas of any county, any person therein described as a trustee, guardian, Certain sales to be executor, administrator, or as standing in any other fiduciary relation to the parties interested, shall grant and convey any real or personal estate, in which proceedings security shall be duly entered by him or her, under the order or decree of the court, no irregularity or defect in his or her original appointment, or the absence of any proper qualification in respect thereto, shall affect the title of the grantee or purchaser, or the securities so entered, but the same shall be as valid in all respects as if such irregularity or defect had not existed: Provided, That this act shall not be construed to apply to any adversary action or other judicial proceeding, heretofore commenced or taken, for the recovery of property sold under any such order or decree, by reason of such irregularity, or to any action or proceeding now pending.(4) 24 March 1877 § 1. P. L. 39. Courts may authorize private sales of church property for cemetery purposes. 22 May 1878 § 1. P. L. 83. Conveyance after death of trustee, &c. Ibid. § 2. When trustee is authorized to bid at his own sale. 25. Whenever the several courts of this commonwealth are authorized by existing laws to decree the sale and conveyance of real estate, and it appears to the Court of the proper county, on application, that such real estate is held by trustees of religious societies, congregations or church organizations, which are desirous of selling and conveying a portion of said real estate to an association or corporation, for the exclusive purpose of a cemetery or place of sepulchre for the dead, it shall be lawful for said court to order and decree a private sale of said real estate, at such price and upon such terms and conditions as shall be agreed upon by said parties, notice of said application to be given to all parties interested as the court shall direct; the sale to be approved by the court, and the deed acknowledged as required by existing laws. 26. Whenever any orphans' court or court of common pleas having authority under existing laws to decree a sale of real estate, shall issue an order to any executor, administrator, guardian or trustee, either specially appointed for the purpose or otherwise, to sell such real estate, and shall confirm such sale, and such administrator, executor, guardian or trustee shall die before the execution of a deed to such purchaser, the proper court shall have power, on the petition of the purchaser, to direct the clerk of such court to execute and deliver to the purchaser the necessary deed of conveyance for such real estate on his full compliance with the terms and conditions of sale, paying into court the moneys payable, and delivering to the clerk the securities required by the said terms and conditions, which moneys and securities shall remain subject to the disposition of the court; and said deed shall be valid and available to such purchaser, as fully as if it had been executed and delivered by the proper administrator, executor, guardian or trustee under existing laws. 27. Whenever any orphans' court or court of common pleas having jurisdiction to decree a sale of real estate, shall issue its order to any administrator, guardian, executor or trustee, specially appointed for the purpose or otherwise, to sell such real estate, and shall, in any case within its jurisdiction, give authority to any administrator, executor, guardian or trustee to bid at such sale, and said court shall confirm the sale of said real estate to such administrator, executor, guardian or trustee, the said court may make an order directing its clerk to execute a deed for said real estate to such purchaser, who shall account for the amount of such purchase-money, in the settlement of his accounts with the register of wills, to said orphans' court, or court of common pleas, as the case may be. (g) See Halderman v. Young, 107 P. S. 324. P. L. 83. Prior conveyances 28. Whenever any orphans' court or court of common pleas shall have hereto- 22 May 1878 § 3. fore made an order for its clerk to execute a deed, in any of the cases mentioned and provided for in the first and second sections of this act, and such deed shall have been accordingly executed and delivered, such deed shall be valid and avail- validated. able to the purchaser to vest in him the right, title and interest of the person as whose land the said real estate had been sold. P. L. 205. 29. Grantees of real estate which is subject to ground-rent, or bound by mort- 12 June 1878 § 1. gage or other incumbrance, shall not be personally liable for the payment of such ground-rent, mortgage or other incumbrance, unless he shall, by an agreement in Grantees not to be writing, have expressly assumed a personal liability therefor, or there shall be personally liable for incumbrances, express words in the deed of conveyance, stating that the grant is made on con- unless specially asdition of the grantee assuming such personal liability: Provided, That the use of sumed. the words "under and subject to the payment of such ground-rent, mortgage or other incumbrance," shall not alone be so construed as to make such grantee personally liable as aforesaid.(r) Ibid. § 2. 30. The right to enforce such personal liability shall not inure to any person other than the person with whom such an agreement is made, nor shall such per- Restriction of personal liability continue, after the said grantee has bonâ fide parted with the sonal liability, incumbered property, unless he shall have expressly assumed such continuing when assumed. liability. REAL-ESTATE BROKERS. See BROKERS. REAL-ESTATE COMPANIES. 1. Capital stock. Powers. 2. Powers of such companies. 1. The capital stock of corporations for the purchase and sale of real estate, or 29 April 1874 § 35. for holding, leasing and selling real estate, and for maintaining, or erecting and P. L. 95. maintaining, walls or banks for the protection of low-lying lands, shall consist in Capital stock. the aggregate at no time of more than six hundred thousand dollars, to be divided into shares of fifty dollars each: the said corporations shall have the right to pur- Powers. chase, take, hold and enjoy real estate, in fee-simple, on lease or upon ground-rent, as well that already purchased or acquired, as that hereafter purchased or acquired, to improve, lease, mortgage and sell the same, in such parts and parcels, and on such terms as to time of payment, as they may determine, and to convey the same to the purchaser, in fee-simple, or for any less estate, or upon ground-rents, and in like manner to mortgage, sell, convey or extinguish any ground-rent reserved out of any real estate so sold; and may maintain or erect and maintain walls or banks of stone, earth or other material for the protection of meadow and low-lying lands from the encroachments of water: Provided, That the quantity of real estate held at any one time, in cities and boroughs, shall not exceed five hundred acres, and outside thereof shall not exceed ten thousand acres, but any number of acres desired may be protected from encroachment by water.(s) 2. Companies incorporated under the provisions of this act, or similar companies already incorporated and accepting the same, for holding, leasing and selling real estate, or for the establishment and maintenance of a hotel or boarding-house, or opera and market-house, hotel and drove-yard, or both, any or either, shall have the right and power to take, receive, hold and enjoy, either by conveyance,(in) fee-simple or for any less estate, or upon ground-rent, or for both, all the buildings, lots of lands, premises (and) appurtenances necessary to the successful maintenance and carrying on of such business; shall have the power to execute the necessary and proper covenant for securing the payment of ground-rent on any of such lands and premises; shall have power to sell or convey, let or lease, all or any parts of said lots, or the tenements and buildings thereon erected, either for cash or on ground-rent, or partly for cash and partly on ground-rent, and shall have power to hold or erect such buildings, fixtures and appurtenances, and procure such furniture and equipments, as may be necessary for the success of its business. And the said corporation may borrow money, in the manner provided in section thirteen of this act, to an amount equal to the capital stock of the company paid up, and secure the same by mortgage upon the said lots, buildings and fixtures and appurtenances. (r) This act only applies to future cases; it has no retrospective operation. Merriman v. Moore, 90 P. S. 78. This act has no application to a suit by a grantor against his grantee for unpaid balance of purchase Ibid. § 36. Powers. money, founded on an alleged verbal agreement by the grantee to discharge an incumbrance. Lennox v. Brower, 34 W. N. C. 132. (8) So amended by act 17 April 1876, P. L. 36. |