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Bland's Reports, Chancery Court 1809-1832
Volume 201, Volume 3, Page 217   View pdf image (33K)
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WILLIAMS' CASE. 217
the mortgage debt, on the trustee's reporting, that he had been
unable to effect a sale; that the estate was unproductive; and
that the buildings and fences on it were going to ruin by reason of
the estate's being left unoccupied, and unprotected, he was ordered
to rent the estate, from year to year, in the best manner he could;
and, from the rents, to have the buildings and fences kept in
repair, until a sale could be effected. (f) And, where, after a sale,
the proceeds have been collected by the trustee, or have been
brought into court; and are likely, from the nature of the contro-
versy, to remain for some time unproductive, they may be ordered
to be invested in some safe stock, or otherwise so as to be made
profitable, pending the litigation, for the benefit of the parties inte-
rested, (m)
In this case it would obviously be more advantageous to all
concerned, that the estate should be so disposed of as to prevent
the buildings and fixtures from being injured, or going to ruin;
and, that the estate should be made to yield some profit for the
maintenance and benefit of these parties.
It is therefore Ordered, that the trustee be and he is hereby
authorized to lease or rent the property in the proceedings men-
tioned in such manner, and upon such terms as he may deem most
advantageous; Provided, that no part thereof be leased for more
than one year, and so from year to year until a sale can be effected
according to the terms of the said decree; and subject to the fur-
ther order of this court. And the trustee is hereby authorized and
required to cause to be applied so much of the rents and profits as
he may deem proper, to the making of necessary repairs in the
buildings and fences.
On the 4th of May, 1829, the trustee reported, that he had
advertised the property to be sold at auction; but having received
no bid for it, but what was obviously below the value, he then
advertised it to be sold at private sale; and for that purpose had
caused a lot of land to be laid off forty and a half acres and seven
perches, including the mill, mill-house, and ferry, and other build-
ings appurtenant to the same, with the privileges of water and
water-rights, &c.; which he had on the first day of May, 1829,
(l) Mackubin v. Hogarth, 25th October, 1826, per BLAND, Chancellor.~-{m) Bar-
ker v. Harper, Coop. Rep. 82; Smith v. Jackson, 1 Mad. Rep. 618; Spring 9. South
Carolina Insu. Comp. 6 Wheat. 519; Latimer v. Hanson, 1 Bland, 51.
28 v. 3


 
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Bland's Reports, Chancery Court 1809-1832
Volume 201, Volume 3, Page 217   View pdf image (33K)
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