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Session Laws, 1972
Volume 708, Page 1114   View pdf image
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1114                             Laws of Maryland                      [Ch. 349

particular, limited or conditional estate in property, and any other
person is entitled to a remainder or remainders, vested or con-
tingent, or an executory devise or devises, or any other interest,
vested or contingent in the same property, on application of any of
the parties in interest, a court of equity, if all the parties in being are
parties to the proceeding, may decree a sale, lease or mortgage which
term includes deed of trust thereof, if it shall appear to be advan-
tageous to the parties concerned, and shall direct the investment of
the proceeds of sale or mortgage or the limitations of the reversion
and rent, as the case may be, so as to inure to the use of the same
parties who would be entitled to the property sold or leased or
mortgaged. All such decrees, if all the persons are parties who would
be entitled if the contingency had happened at the date of the decree,
shall bind all persons whether in being or not, who claim or may
claim any interest in the property under any of the parties to the
decree, or under any person from whom any of the parties to the
decree claim, or under the original deed or will by which such par-
ticular, limited or conditional estates, with remainders or executory
devises, were created. Any mortgages executed pursuant to the de-
cree shall bind the estates and interest in the property so mortgaged
of all such persons, whether in being or not.

14-111. Boundary lines.

If there is a dispute about any boundary lines, or if the bounds
mentioned in a document are lost, upon petition of any party in
interest, the circuit court for the county in which the property lies
may establish the boundary lines or the location of the missing
bounds. The court may appoint engineers, surveyors, or other experts
to assist the court in its determination, and the fees of such persons
shall be costs in the proceeding.

14-112. Power of trustees.

Any trustee, escrowee, agent, attorney or other person acting in
representative or fiduciary capacity who takes title to property
without limitation expressed in the grant to him, shall be deemed to
have the power to grant, transfer, or encumber the property or any
interest therein except to the extent limited by the grant to him or
by another instrument recorded in the land records of the county
where the property is located after the grant to the representative
or fiduciary and
before his grant, transfer or encumbrance.

14-113.

Every deed of property by a Maryland corporation which contains a
certification by a corporate president or vice president to the effect
that the conveyance is not part of a transaction in which there is a
sale, lease, exchange, or other transfer of all or substantially all the
property and assets of the corporation, shall be considered valid and
effective whether or not there has been compliance with the proce-
dures of Article 23, Section 66, despite the fact that said conveyance
is in fact part of such a transaction. Every deed of property by a
MARYLAND corporation, executed and recorded before the effective
date of this article, shall not be invalid solely because of non-compli-
ance with Article 23, Section 66 unless proceedings to set the deed
aside are commenced on or before July 1, 1973.


 

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Session Laws, 1972
Volume 708, Page 1114   View pdf image
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