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Supplement to the Maryland Code, Containing the Acts of the General Assembly, Passed at the Session of 1870
Volume 386, Page 32   View pdf image (33K)
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32

CHANCERY. [ART. 16.

who shall give such bond and security as the court may
require ; and no sale of real estate made by any trus-
tee by virtue of any power or appointment contained
in any deed or will shall be valid unless the same shall

How sales rati-
fied.

be confirmed by the court, as in the case of sales made
by trustees appointed by the court.

Approved and in force April 4, 1870.

1870, c. 247 amends article 16 by adding thereto the following:

1870,s.247, s 1.

Sub-Sec. 1. That in any case in which a trustee
shall have been or may hereafter be appointed by will,
either as the sole trustee or as a trustee to act in con-
junction with another person or with other persons, to
manage, lease or sell any real or personal estate or
leasehold property situated in the state, or shall have
been or shall hereafter be appointed such trustee by
any court of the state exercising equity jurisdiction,

How trustee
may resign
trust

and shall be desirous to retire from and resign such
trust after he or she shall have accepted the same, such
trustee may exhibit a petition, ex parte, in the court
exercising equity jurisdiction in the city or county
where said real or personal estate, or said leasehold
property may be situated, accompanied by a full and
particular account, under oath, of his or her receipts
and disbursements, if any, as such trustee, and the said
court, upon the filing of such petition and account,
shall have jurisdiction in the premises, and shall cause

Public notice.

notice to be given by publication in one or more of the
papers of said city or county, and for such time as the
said court may deem proper, giving notice of the filing
of said petition ; and if no good cause shall be shown
to the contrary by the day that may be limited in that
behalf in said notice, the said court by its decree shall
release and discharge the said trustee from the further
execution of said trust, and may pass such order as to
costs, and impose such terms in other respects, if any,

Proviso.

as the nature of the case and equity may require ; pro-
vided, that such discharge shall not release said trustee
or his sureties, if any, from liability to any of the cestui



 

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Supplement to the Maryland Code, Containing the Acts of the General Assembly, Passed at the Session of 1870
Volume 386, Page 32   View pdf image (33K)
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