Am'd, 1893.] Reference to inquire into the appli

è presentation of the petition, and the filing of the bond, filing of such a bond shall be necessary, the court e an order appointing a suitable person a referee to inthe merits of the application. The referee must exthe truth of the allegations of the petition; hear the and proofs of all persons interested in the property, or interested in the application; and report his opinion together with the testimony, with all convenient speed. ■. 268.

Am'd, 1893.] Final order.

e filing of the referee's report, and after examining hatter, the court must make a final order upon the In a proper case a final order, confirming the refrt, must direct that the real property or term, estate or est in real property or a part thereof or an inchoate wer therein, as is necessary, or as justice requires, be let for a term of years, sold, released or conveyed by guardian, appointed as prescribed in this title, or by tee of the property of the lunatic or other incompetent e final order must also contain such directions, ree time, manner and conditions of the sale, release or directed thereby, as the court thinks propert to insert

639.

m'd, 1893.] Report of sale, etc.

sale, mortgage, release, or lease can be made pursuant I order, the special guardian or the committee must an agreement therefor, subject to the approval of the must report the agreement to the court under oath. onfirmation thereof by the order of the court, he must directed by the court, a deed, mortgage, release or re the final order directs the execution of a conveyfirst instance, for the purpose of fulfilling a contract, the property is held by way of mortgage, or in trust ardian or committee, executing the conveyance, must onveyance to the court, under oath.

$39.

rtain sales, etc., prohibited.

erty, or an interest in real property, shall not be or mortgaged, as prescribed in this title, contrary sions of a will, by which it was devised, or of a conother instrument, by which it was transferred, to incompetent person.

m'd, 1893.] Effect of conveyance, etc.

mortgage, release from inchoate right of dower, or in good faith, as prescribed in this title, either upon on in behalf of the infant or an incompetent person, to the directions contained in a judgment rendered has the same validity and effect, as if executed by n whose behalf it was executed, and as if the infant age or the lunatic, idiot, or habitual drunkard was of

sound mind, and competent to manage his or her affairs; and ate pro release of an inchoate right of dower as authorized by this title shall have the same effect as if the wife had joined with the husband in a deed or conveyance of the property affected thereby and had duly acknowledge the same in the manner required by law to pass the estate of married women.

L. 1893, ch. 639.

s

ay

a bor for su

doub

§ 2359. [Am'd, 1892.] Proceeds of sale deemed real propas erty.

such

.639.

ther

an

10

A sale of real property, or of an interest in real property, of an infant or incompetent person, made as prescribed in this title, Part does not give to the infant or incompetent person, any other or greater interest in the proceeds of the sale, than he or she had in the property or interest sold. Those proceeds are deemed oper property of the same nature, as the estate or interest sold, until the infant arrives at full age, or the incompetency is removed, If the infant should die before arriving at full age, or the incom petent person should die before the incompetency is removed not leaving any personal property or not leaving sufficient personal property to pay funeral expenses and expenses that may be neces sary or necessarily incurred, then in either or each case the proceeds are to be deemed personal property so far as may be necessary to pay the funeral and other necessary expenses. The proceeds are to be paid upon order of the surrogate's court or court having jurisdiction of the estate of the deceased, to an adminis trator appointed by the surrogate to administer upon decedent's estate, and after paying all funeral expenses and expenses of administration and any indebtedness, the remainder, if any there be, shall, upon the order of the surrogate, be paid into the hands of the trustee who held the same, to be distributed as the law directs. This act is to include the said proceeds of any infant or incompetent person that has died prior to this amendment, the proceeds now remaining in the hands of a trustee. L. 1892, ch. 523.

§ 2360. Infant deemed a ward of court.

From the time of the filing of a petition, by or in behalf of an infant, praying for an order directing a conveyance, or a sale, mortgage, or lease of his real property, or of an interest in real property, the infant is considered a ward of the court, with respect to that real property or interest, and the income and proceeds thereof.

§ 2361, [Am'd, 1898.] Disposition of proceeds; accounting. The court must, by order, direct the disposition of the proceeds of such a sale, mortgage or lease. It must direct the investment of any portion thereof belonging to the infant or incompetent person, which is not needed for the payment of debts, or the safe keeping, or the immediate maintenance and education, of himself or his family, or for the preservation or improvement of his real property or his interest in real property. It must require a report, under oath, of the disposition and investment thereof, to be made as soon as practicable, and must compel periodical ac counts to be rendered thereafter, by each person, who is intrusted with the proceeds, or any part thereof. Where an inchoate right of dower is released as prescribed in this title, the court shall make an order requiring one-third of the amount realized on the

he property to which the inchoate right of dower atbe invested by the special guardian, or paid into the be held for the benefit of the husband during his life his death for the benefit of the wife during her life, or may direct said amount to be paid to the husband upon ; a bond in the penalty of at least double the amount so for such release, with at least two sureties, who shall double the amount of such penalty, conditioned for the t as the court shall direct by his executors or adminissuch amount upon the death of the husband.

ch. 639.

Particular estates; when included in sale.

the real property, or the estate, term or other interest property, directed to be sold, is subject, absolutely or ntly, to a right of dower, or an estate for life, or is o an estate for years, in the whole or any part thereof, on, having the prior right or estate, may manifest in his consent, either to receive, from the proceeds of the ross sum, to be fixed according to the principles of law le to annuities, in satisfaction of his right or estate; ve a proportionate share of the proceeds of the sale inand the interest thereof paid to him, from the time of estment, or of the commencement of his right or estate, ce requires, until the determination of his right or estate. ling the consent with the clerk, the final order may, iscretion of the court, direct a sale of the entire property, h the right or estate attaches. In such a case, the court fter the sale, ascertain the value of the right or interest person so consenting; and the final order must either direct ment, from the proceeds of the sale, of the gross sum so ned as the value, or the investment of a just proportion of ceeds, and the payment to him of the interest thereof. ch a gross sum shall not be paid, nor shall such an investe made, until an effectual release of the right or estate of son so consenting, executed to the satisfaction of the court, ly acknowledged or proved, and certified, in like manner eed to be recorded in the county, has been filed with the

S. 196, §§ 181, 182 (2 Edm. 204); L. 1864, ch. 417 (6 Edm. 292, 293); , ch. 446, § 13, 15, 16 (9 Edm. 932).

33. Id.; when belonging to infant, etc.

re the interest of the infant, or of the lunatic or other intent person, consists of a right of dower, or an estate for for years, the final order may authorize the special guarrcommittee to join, with the person or persons holding the ionary estate, in a conveyance of the property to which the st attaches, so as to release the right of dower, or fully the particular estate, on receiving, from the proceeds of le, a gross sum, in satisfaction of that interest, or a propore part of the proceeds, to be invested until the determination particular estate; and, in either case, to be ascertained as ribed in the last section. Where a proportion of the proceeds received by the guardian or committee. for investment, the order must provide for the investment thereof, until the mination of the particular estate: and then for the payment of to the person entitled thereto.

41

§ 2364. Debts of infant, etc., to be paid equally.

In the application of money, arising from a sale, mortgage or lease, made for the purpose of paying debts, as prescribed in this title, the special guardian of the infant, or the committee of the property of the incompetent person, must pay all debts, in equal proportion, without giving a preference to a debt founded upon a specialty, or upon which judgment has been taken.

2 R. S. 54, § 15 (2 Edm. 55); L. 1874, ch. 446, § 21 (9 Edm. 933).

642

the arbitrators to meet; when majority may award. Fees. ard; to be authenticated, etc.

ect of party's death, lunacy, etc.; proceedings thereupon. ocation of submission.

ility of party who revokes.

itation of recovery against him.

lication of this title.

hen submission to arbitration cannot be made. ion of a controversy to arbitration cannot be made, escribed in this title or otherwise, in either of the

ses:

one of the parties to the controversy is an infant, competent to manage his affairs, by reason of lunacy, bitual drunkenness.

the controversy arises respecting a claim to an esroperty, in fee or for life.

è a person, capable of entering into a submission, ly entered into the same with a person incapable as prescribed in subdivision first of this section, the the ground of incapacity, can be taken only in beerson so incapacitated. And the second subdivision n does not prevent the submission of a claim to an ars, or other interest for a term of years, or for one in real property; or of a controversy respecting the real property between joint tenants or tenants in of a controversy respecting the boundaries of lands, surement of dower.

§§ 1 and 2 (2 Edm. 560).

it controversies may be submitted, and how. therwise prescribed in the last section, two or more by an instrument in writing, duly acknowledged 1 certified, in like manner as a deed to be recorded, arbitration of one or more arbitrators, any controbetween them at the time of the submission, which subject of an action. They may, in the submission, judgment of a court of record, specified in the in11 be rendered upon the award, made pursuant to If the supreme court is thus specified, the subIso specify the county in which the judgment shall f it does not, the judgment may be entered in any

1.

Land § 9.