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Session Laws, 1811
Volume 614, Page 100   View pdf image (33K)
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100

LAWS OF MARYLAND.

1811.

ceased, such
money shall be
refunded out of
the purchase
money of real
estate Balance
shall be vested
in a productive
fund. Interest
to go to the
benefit of trus-
tee. Principal
to be subject to
her disposal by
will

due from the estate of the said Thomas Gibson to a
larger amount than the personal assets which were
left by the deceased, then so much money as the said
Anne Gibson shall have paid beyond the amount of the
personal assets of the deceased, shall, by the said
court be directed to be retained out of the purchase
money first coming into the hands of the said Anne
Gibson, as trustee aforesaid, afterpayment of any debts
which shall then yet remain due from the deceased's
estate; and the said court shall order and direct that
the residue of the purchase money, as the same shall
come into the hands of the trustee, shall be loaned
out at interest, vested in bank stock, or placed in some
productive fund, such, as in the opinion of the court
will best promote the interest of the party; and the
interest arising therefrom to be subject to the use
and disposal, and go to the benefit of Anne, the widow
of the said Thomas, during her natural life; and the
principal so placed out as aforesaid, to be subject to
her disposal by will, as she by the will of Thomas Gib-
son, deceased, is authorised to do.

She may divide
among her pre-
sent children
previous to her
death, but the
amount given
shall be deduct-
ed on a final
distribution.

4 AND BE IT ENACTED, That should the
said Anne Gibson deem it proper to divide among or
give to her present children, at any time during her
life, any part of the principal arising from the sale of
the lands authorised as aforesaid, in lieu or in anticipa-
tion of what she may design to bestow upon them by
will, she is hereby permitted and authorised to do so;
mid the amount so given or bestowed, shall be consid-
ered as a fair charge against such child; and shall
be deducted from said child's share upon a final distri-
bution.

If trustee make
sale of the real
estate on credit,
she shall take
bonds from pur-
chasers, and
lodge them
with the regis-
ter of wills.

5. AND BE IT ENACTED, That if the said
Anne Gibson shall make sale of the real estate afore-
said in part or in whole, on a credit, that she shall in such
case take from the purchaser or purchasers thereof, a
bond or bonds with good and sufficient security for the
pay ment of so much of the purchase money as shall
not be paid at the time of sale, according to the terms
of the contract of sale, which said bond or bonds shall
be lodged with the register of wills of Frederick coun-
ty aforesaid, for safekeeping, until the money secured
thereby shall become due, when they shall be deliver-
ed to the trustee for collection.

If trustee
should die or
marry before
the completion
of trust reposed
in her, the ori-

6. AND BE IT ENACTED, That if the said
Anne Gibson should die or intermarry with any per-
son alter a sale shall have been made by her, of the real

state aforesaid, and before the completion of the trust
herein and hereby reposed in her; That thereupon, the



 
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Session Laws, 1811
Volume 614, Page 100   View pdf image (33K)   << PREVIOUS  NEXT >>


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