Chap. 0322 An Act in addition to "an act respecting the sale and investment of estates encumbered by contingent remainders, executory devises or powers of appointment."

Be it enacted, Sfc., as follows :
Section 1. Whenever any real estate is encumbered by any contingent remainder, executory devise or power of appointment, the supreme judicial court may, upon petition of any party who has an estate in possession in such real estate, appoint a trustee for such estate, and authorize said trustee to mortgage the estate for such amounts, on such terms and conditions, and for such purposes as may seem to such court judicious or expedient, and shall fix the form and amount of the bond to be given by such trustee.
Section 2. Notice of the proceedings shall be given to all persons who are or may become interested in the real estate, and to all persons whose issue, not in being, may become interested therein, as the court may order. The court shall, in all such cases, appoint a suitable person to appear and act in such proceedings as the next friend of all minors, persons not ascertained or persons not in being, who may be or may become interested in such real estate, the cost of whose appearance and services, including compensation of counsel, to be determined by the court, shall be paid as the
court may order, either out of the proceeds of the real estate or by the petitioners, in which latter case execution may issue in the name of such next friend. An order or decree made in any such proceedings, and a mortgage of real estate thereunder, shall be binding and conclusive.
Section 3. The probate court for the county in which any such encumbered estate may be situated, shall have concurrent jurisdiction with the supreme judicial court in all cases arising under this act.
Section 4.   This act shall take effect upon its passage.
Approved May 23, 1871.