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JOHN EAGER HOWARD, Esq; Governor.
the purpose of receiving a statement in writing of all the debts, claims
and demands,
of creditors, against the estate of the said John Mitchell, and of the
amount,
nature, and quality thereof; and having so fixed upon such day, the said
trustees
shall immediately cause public notice to be given of their intentions to
meet at
such time and place for the purposes aforesaid, and shall cause advertisements
thereof to be set up at the most public places in their and the adjoining
counties,
and to be printed in the Maryland and Delaware Gazettes, at least for the
space
of thirty days before such intended meeting; and the said trustees, or
a major
part of them, shall accordingly attend at such time and place, and then
and
there receive from the creditors of the said John Mitchell respectively,
a statement
of their debts and claims, and of the amount, nature, and quality thereof,
on the
oath or affirmation of the parties; and the said trustees, or a major part
of them,
shall diligently inquire after the whole real estate of the said John Mitchell,
lying
and being in the counties of Somerset and Worcester aforesaid, or elsewhere
in
this state, and shall take the possession, charge, and management thereof,
and
within the space of six weeks after the time herein before intended for
the meeting
of the said trustees, they shall certify to the chancellor a regular statement,
subscribed by them, of the real property aforesaid of the said John Mitchell,
and
of the particulars thereof as to buildings and improvements, and the quantity,
quality and situation, of the lands, and also of the names, debts, claims
and demands,
of the respective creditors, according to the document thereof furnished
by each; and such statement shall be filed with the register of the court
of
chancery, and safely kept for the inspection and examination of the parties
concerned. |
1789.
CHAP.
XXXIII. |
IV. And be it
enacted, That the chancellor shall thereupon direct a public
sale of the said real property to be made by the said trustees, in such
lots, parcels
or proportions, and at such respective times and places, and upon such
public
notice, terms and credit, and in other respects in such manner as he shall
think
most advantageous for the interest of the creditors and this state, and
most proper
for securing a punctual payment of the purchase money, and shall certify
such directions to the said trustees, who shall and they are hereby required
to
govern themselves according to the tenor thereof; and the said trustees
shall return
a particular account of their proceedings at such sales to the said chancellor,
as soon thereafter as conveniently may be, stating the several lots or
parcels of
land sold, and to whom, the amount of each, the time of payment, and the
security given, and shall subscribe the same; and any deed or deeds given
by the
said trustees, or a major part of them, as such, to any purchaser or purchasers
of the said property, or any part thereof, upon a fair sale made pursuant
to this
act, after acknowledgment and enrolment thereof according to law, shall
be
valid and available to transfer and confirm such property to the said purchaser
or
purchasers in fee-simple, in like manner as if the same had been sold and
conveyed
by the said John Mitchell in his life-time, or secured by the state in
virtue
of a patent grounded on the escheat. |
Chancellor to
direct a public
sale, &c. |
V. And be it
further enacted, That the said chancellor, upon examination
of the said statement and account, shall direct the proportion and order
of payment
according to the claims of the respective creditors, and a course of distribution,
having also a just regard to debts or judgments, by which such property
may be bound, and to their nature and value; and if any creditors shall
elect to
take the bonds of the purchasers to the amount of their respective claims
in discharge
thereof, (if the sale of the said property shall be on credit,) it
shall be
lawful for the said trustees, or a major part of them, to assign so much
thereof
as shall be sufficient, or otherwise the claims of such creditors shall
remain postponed
until the payment of the money by the respective purchasers of the said
property. |
To direct the
proportion,
&c. |
VI. And be it
further enacted, That the said chancellor shall direct a summary
account of the said debts and claims, and of the said sales, to be
made out
by the register, and certified to the treasurer of the eastern shore, who
shall
thereupon raise an account against the said trustees, and superintend the
collection |
And to direct
a summary account
to be
made out, &c. |
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