New Hampshire Revised Statutes 477:39 – Petition for Trustee; Order for Sale
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Terms Used In New Hampshire Revised Statutes 477:39
- Devise: To gift property by will.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- petition: when used in connection with the equity jurisdiction of the superior court, and referring to a document filed with the court, shall mean complaint, and "petitioner" shall mean plaintiff. See New Hampshire Revised Statutes 21:51
- real estate: shall include lands, tenements, and hereditaments, and all rights thereto and interests therein. See New Hampshire Revised Statutes 21:21
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
When real estate is subject to a contingent or vested remainder, executory devise or power of appointment, the superior court for the county in which said real estate is situated may, upon petition of any person who has an estate in possession, remainder or reversion in such real estate, and after notice and other proceedings as provided in N.H. Rev. Stat. § 477:40 and 477:41, appoint one or more trustees, and authorize him or them to sell or mortgage and convey such estate or any part thereof in fee simple if such sale, mortgage or conveyance appears to the court to be necessary or expedient, and such conveyance shall be valid and binding upon all parties.