Handy

Citations

• 167 Pa. 552
• 31 A. 983
• 1895 Pa. LEXIS 946

Syllabus

<p>Assignment for creditors — Sale—Act of Feb. 17,1876 — Priority of liens— Will.</p> <p>Under the act of Feb. 17, 1876, P. L. 4, which provides that “ where the assignor is the owner of a number of tracts of land incumbered to such an extent that it is impossible to ascertain definitely whether a sufficient amount can be realized to discharge all the liens,” and “ which sale or sales, after being confirmed by said court, shall discharge all liens against the real estate so sold .... and the proceeds arising therefrom shall be appropriated to liens extinguished by virtue of the sale according to their priority,” it is in the interest of justice to all parties that such sales should be upon ascertained rights, not only as to title, but as to destination of the proceeds; and it therefore becomes the duty of the court to ascertain the number and priority of the liens upon the land before the sale, to enable assignees “ to make advantageous sales of said real estate.” Where the assignor’s estate is a remainder after the termination of his mother’s life estate, and consists of an interest in blended realty and personalty, passing under a will; and it appears that the present appraised value of the personalty and the assessed value of the realty show a small margin in the amount of the assignor’s interest over the incumbrances, there is such an element of uncertainty as will give the court jurisdiction to decree a sale under the act.</p> <p>AVhile the act does not refer to or provide for sales of personalty, yet there is nothing in the statute to prevent the court from making an order of sale of the blended interest in both realty and personalty in one block.</p> <p>Such a sale may he ordered where the clear equities of the case require it, although it deprives the senior lien creditor of his privilege under the act of April 20, 1816, P. L. 411, of using his lien as equivalent to money in paying his bid at the sale.</p> <p>Decedent's estate — Advancement—Loan—Will.</p> <p