An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1891/1892 |
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Law Number | 437 |
Subjects |
Law Body
CHAP. 437.—An ACT authorizing the trustees under the will of
C. H. Lynch, deceased, to borrow money to make permanent
improvements.
Approved February 29, 1892.
1. Be it enacted by the general assembly of Virginia,
That Peter J. Otey, trustee for Susan L. Ward and her
children; Thomas Fauntleroy, trustee for Mary A. Faunt-
leroy and her children, and Thomas L. Walker, trustee for
Mary Lucretia Dearing, now Mary L. D. Christian, and her
children, under the will of Charles H. Lynch, deceased, or
their successors, jointly as to any undivided property, or
severally, be, and are hereby, authorized, from time to
time, upon bill filed and matured for the purpose, in the
circuit court of the county of Campbell, or the circuit or
corporation court for the city of Lynchburg, to borrow
money to make permanent improvements upon the real
estate, or any part thereof, devised to any of said trustees
by said will, upon its being made to appear to the court,
to be for the best interest of all parties in interest, and on
such terms, conditions, and limitations as the court in its
decree may prescribe; and secure the payment of any sum
borrowed hereunder by mortgage or deed of trust upon all
or such part of said real estate as the court by its decree
may direct.
2. Any mortgage or deed of trust made in the manner
and for the purpose prescribed in this act, shall convey the
fee simple title to said real estate free from any contin-
gent or vested remainders, limitations and conditions con-
tained in said will or reversions, as fully as if all parties
in interest were in being and sui juris and united in gaid
mortgage or deed of trust.
3. In event of a foreclosure of any mortgage, or sale
under any deed of trust, made by virtue of this act, any sur-
plus remaining after paying the cost of foreclosure, or sale,
and the sum or sums secured thereby, with all interest
due thereon, shall be held by the trustee or trustees of the
property so disposed of, upon the same conditions, limita-
tions, and remainders as prescribed in said will; subject,
however, to any equities between the life-tenant and the
remaindermen arising out of the terms, conditions, and
limitations prescribed by the court in decreeing the bor-
rowlng.
4, In any suit brought to give effect to this act, the bill
shall be verified by the oath of the plaintiff, and all per-
sons in esse and interested in the property as life-tenants,
or remaindermen under said will, or reversioners, shall be
defendants.
5. This act shall be in force from its passage.