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Session Laws, 1969
Volume 692, Page 86   View pdf image
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86                               LAWS OF MARYLAND                         [CH. 3

infants, the orphans' court may, upon petition of guardians of such
infants, order the transfer and conveyance of the fee and reversion
in such land to the owner of the leasehold interest therein, upon pay-
ment of the amount of money at and for which the said ground rents
may be redeemable; and deeds made, executed and delivered by
guardians for and on behalf of such infants, in pursuance of an order
of the orphans' court as aforesaid, shall vest in the owner of the
leasehold estate, his heirs and assigns, all right, title, interest and
estate of the said infant owners of the fee and reversion, either at
law or in equity, in and to the same; and the money arising from
such redemption of ground rents shall be accounted for by said
guardians in the orphans' court ordering such transfer and convey-
ance. Every petition by guardians as aforesaid shall set forth the
location and a description of the land, the liber and folio of the land
records wherein the same is recorded, the date of the lease whereby
the said rent was created, the amount of the annual ground rent,
the amount at and for which the ground rent is redeemable, and the
petition shall also state that notice as required by law, or as required
by the lease, as the case may be, has been given by the owner of the
leasehold estate, and such other facts as may be necessary to properly
present the matter to the court, and all such petitions shall be
sworn to by the guardian.

[192] 24. Power of orphans' court to order investments.

They shall order the guardian who has received from any trustee
of a court of equity any proceeds of real estate of his ward sold by
such trustee, or the proceeds of the sale of leasehold estate of his
ward, sold by order of the orphans' court, or moneys belonging to his
ward, to invest the same in mortgages on unencumbered real estate,
worth at least double the amount loaned, or such public stock,
permanent funds, or other good securities to be selected by said
guardian, as will yield the highest rate of interest that can reason-
ably be had, or they may when it is clearly for the benefit of the
ward order the same to be invested in land; and the investment se-
lected shall be reported to the court for its approval before becoming
permanent and the increase of surplus income of such investment,
after what may be necessary for the maintenance and education of
the ward, shall be invested in like manner under the direction and
approval of the court, and no part of the principal shall be applied
to the maintenance and education of the ward without the order and
consent of the orphans' court first had and obtained.

[193] 25. Investments in name of ward; how transferable.

All moneys invested under Section [192] 24 shall be invested in the
name of the ward, and shall be transferable only under the order of
the orphans' court, and all transfers without such order shall be
void; and whenever the orpha