Chap. 90.—An ACT to provide for the sale of property, real and personal, held
subject to a deed or deeds of trust, to secure the payment of money, or any
evidence of debt, where there is no date fixed for the payment thereof, and for
the investment of the proceeds of sale under decree of court subject to the
terms of said deed or deeds of trust. [S B 45]

Approved March 3, 1932

1. Be it enacted by the general assembly of Virginia, That when
any property, real or personal, is conveyed by deed or deeds of trust,
whether heretofore or hereafter made, to a trustee or trustees, to se-
cure the payment of a debt, money, notes, bonds, stocks, or other evi-
dences of debt, where there is no date fixed for the maturity thereof,
and such deed or deeds of trust contains no provision authorizing the
trustee or trustees to make sale of said property, or any part thereof,
and the re-investment of the proceeds of sale in other property subject
to the terms of said deed or deeds of trust, it shall be lawful for the
circuit and corporation courts, or such court having jurisdiction of
the subject matter, upon a bill filed by any one or more of the lien
debtors, in which bill all persons interested in said lien, and all holders
of the evidences of debt secured by the deed or deeds of trust thereon,
and all other necessary or proper parties, except the plaintiffs, shall be
made defendants, to decree a sale of said property, or any part there-
of, and to invest the proceeds of sale under decree of court subject to
the terms of the said deed or deeds or trust; provided, that the bill of
complaint shall set forth facts which will justify the sale of said pro-
perty, to be verified by the affidavit of at least one of the plaintiffs ;
provided, further, no decree shall be made authorizing such sale unless
it shall be shown to the satisfaction of the court, that the interests of
the lien debtor or debtors will be promoted, and the interests of no per-
son or persons holding the evidences of debt secured by said deed or
deeds of trust, will be violated thereby ; provided, further, the plaintiff
or the party for whose benefit the suit is brought shall bear the cost.