Chap. 277.—An ACT to Regulate Judicial Sales and Prevent the Sacrifice
of Property.

Approved Jaly 11, 1870.

1. Be it enacted by the general assembly, That all judicial
sales of real estate, under decrees or orders hereafter rendered,
for the payment of debts contracted, or liabilities incurred
prior to the tenth day of April, eighteen hundred and sixty-
five, shall be upon a credit of not less than three nor more
than six equal instalments, payable annually from the day of
sale, except for so much as may be necessary to pay the cost
of suit and sale, which shall be required in cash. The defen-
dant, at any time before the rendition of such decree, may, by
writing filed among the papers of the cause, waive the bene-
fits of this section; and the court is empowered to make such
waiver for all persons under disabilities.

2. No commissioner of any such judicial sale of real estate
as is mentioned in the preceding section, shall, either at the
first or second exposure of such real estate to sale, sell the
same for less than three-fourths of its assessed value, as ascer-
tained by the last official assessment made for the purposes of
taxation, with this restriction: the powers and duties of the
commissioner and the court shall remain precisely the same as
they now are. The said commissioner shall always return
with his report of sale an official copy of the said assessed
value of said real estate.

8. This act shall be in force from its passage.