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CHAP. 337
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reversion and rent were created, the amount of the annual
rent, the amount for which the same is redeemable, and also
that such notice as may be required by law or by the lease
or sub-lease has been given by the owner of the leasehold or
sub-leasehold and such other facts as may be necessary to
properly present the matter to the court, and such petition
shall be sworn to by the party filing the same. The money
received from the owner of the leasehold or sub-leasehold
for the redemption of such rent or sub-rent shall be
forthwith accounted for to the court by the trustee or
life tenant or holder of the defeasible estate receiving
the same, and the court shall make such orders in refer-
ence to the investment of the same as may be proper
to the end that the said money shall be held in place
and stead of the redeemed reversion and rent so as to
enure in like manner to the benefit of the persons entitled to
said reversion and rent. Before receiving the redemption
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Bond to be
given.
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money the trustee or life tenant or holder of the defeasible
estate shall give bond to the State of Maryland in the penalty
of double the amount of the redemption money, with a surety
or sureties to be approved by the court or the clerk thereof,
unless such trustee or life tenant or holder of the defeasible
estate has previously given a bond which protects the
redemption money, or unless such trustee has been excused
from giving bond by the instrument creating , the trust.
Where a life tenant or the holder of a defeasible estate is
the owner of the reversion and rent, the court may, instead
of directing the life tenant or holder of the defeasible estate
to execute such deed and receive the redemption money,
appoint a trustee to execute the deed and to receive the
redemption money. The court costs of the proceeding,
including the expense of obtaining a corporate bond (the
amount of such expense being subject to the direction of
the court), shall be paid out of the money received for the
redemption of the rent. No purchaser shall be required to
see to the application of the purchase money.
SEC. 2. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved April 3, 1906.
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