71 Ky. 568 | Ky. Ct. App. | 1871
delivered the opinion of the court.
Leaven Lawrence died in the county of Jefferson, leaving a last will and testament, and by the sixth clause of that instrument devised to his niece, Mary Riddle, and her children, certain real estate in the city of Louisville, as follows: "I give and devise to Robert Tyler, in trust for Mary Riddle, who was Mary Lawrence, the following property in the city of Louisville [describing it], to be held by the said Tyler, for the sole, separate, and exclusive use, benefit, comfort, and support of the said Mary during her natural life, and after her death for the sole, separate, and exclusive use, benefit, support, and education of any child or children of said Mary, and grandchild or children of hers, such grandchild or children taking the share or portions which the parent or parents would be entitled to if living • and with power to said Mary, in case she should not leave any child or children, to dispose of all or any part of said trust property by last will and testament, or other instrument of writing , duly executed.”
The court below, after hearing proof showing that a sale of this property and an investment of the proceeds in other lands would redound to the interest of all the parties interested, adjudged that the absolute right and title in and to the real estate described in the petition be sold for the purposes of reinvestment, in accordance with the prayer of the petitioners.
This property was sold by the commissioner, and the appellant, P. B. Ewing, was the purchaser; and, refusing to comply with the terms of sale, a rule was awarded against him to show cause why he failed to execute his note for the purchase-money. He responded to the rule, and resisted the motion upon the alleged ground that the sale passed no title, as no commissioners had been appointed or bond executed, as required by chapter 86, Eevised Statutes,, regulating the sale
The chancellor bases his jurisdiction to render a judgment in such a case upon the act of August 23, 1862 (Myers’s Supplement, page 426). This act, in our opinion, cohfers no such jurisdiction; but, on the contrary, the fourth section of this act expressly provides “that the court shall have full power to effectuate the sales and reinvestments as herein provided, etc. Provided, however, that in all cases where the vested interest sought to be sold is held by infants or married Avomen, the proceedings to effect a sale shall be made in accordance with the eighty-sixth chapter, Revised .Statutes, in relation to the sale of the real estate and slaves of infants, and such amendments thereto as have been made by law.” In the present case no bond was executed and no commissioners appointed, and an entire absence of any compliance Avith the requisitions of chapter 86, Revised Statutes, in regard to such sales, appears from the record. If therefore the validity of this proceeding depends upon the act of August, 1862, no title passed to the purchaser, as the provisions of the act were not complied with.
The will of Lawrence gav'e to Mrs. Riddle a life-estate in this Louisville property, with the remainder in fee to the children. The legal title, however, was vested in the trustee for the use of the mother for life, and her children at her death. The second section of an act entitled an act to amend chapter 86 of the Revised Statutes, approved February 16, 1858, provides “that land or slaves conveyed or devised to any person for life, or in trust for his use, Avith remainder over to his children, or to such of them as may survive him, or to the issue of such children, may by the judgment of a court of
This statute was intended to apply to such cases as the one we are now considering, and authorizes the chancellor to sell the absolute right and title to the property for purposes of reinvestment. In this case the devise is to the mother for life, or in trust for her use during life, with remainder to the children, or to the issue of the children. It is immaterial whether the children are infants, adults, or married women; this statute authorizes a sale of the property and an investment of the proceeds whore, from the proof, the court is satisfied that it will advance the interest of the parties owning the property. No bond is required to be executed by the guardian of the infants, nor is it made necessary to have commissioners appointed, as required by chapter 86, relative to the sales of infants’ real estate. Counsel insists, however, that as one of the children was a married woman at the time of the filing of the petition, that there should have been an acknowledgment by the wife on privy examination, and a covenant executed, as required- by article 5 of chapter 86. The amendment of February 16, 1858, was intended to dispense with those requirements. It is conceded that by article 3 of chapter 86 no land belonging to an infant can be sold without the execution of a bond and the report of commis
By the act of 1858 the chancellor, before he can adjudge a sale of land, must be satisfied, in the first place, that the interest of the parties interested required that a sale should be made. He is then required to reinvest the proceeds of this land in other lands, to be held in the same manner as the land adjudged to be sold, and must see that this investment is made. He is required to retain a lien upon the estate sold until all the purchase-money is paid. The character and kind of property is not changed; the security of the estate is not affected; the proceeds of the realty are in the .hands of the chancellor alone for reinvestment; and, as decided by this court in the case of Paul v. Paul and wife (3 Bush, 484), “ there is no conversion of the estate into money, and the risk of loss and danger is not increased.”
The title to the real estate in which the reinvestment is proposed to be made in this case is in the wife, and there is no reason for the execution of the bond or the acknowledgment, as required by article 5 of chapter 86, Revised Statutes, in regard to sales of the real estate of married women. All the parties ask in this case is a sale and reinvestment of the proceeds in other lands. The sale to Ewing passed the absolute title to the Louisville property.
The judgment is affirmed.