Pennsylvania Act 1905-228 — INSOLVENCY AND ASSIGNMENTS FILED OUT OF STATE

Act text

INSOLVENCY AND ASSIGNMENTS FILED OUT OF STATE
                  Act of May 3, 1905, P.L. 363, No. 228               Cl. 39
                                  AN ACT

     Relating to insolvency, termination of trusts, or assignments
        for the benefit of creditors, when made in another State, and
        designating to whom the interest in real property remaining
        in the trustee or assignee in this State shall revert.

        Section 1.  Be it enacted, &c., That when an assignment has
     been made for the benefit of creditors, in another State, and an
     estate or interest in real property or lands in this State has
     been heretofore vested or shall hereafter vest in the assignee
     or other trustee under said assignment, the trust shall cease at
     the expiration of twenty-five years from the time when the trust
     was created, except where a shorter limitation is contained in
     the instrument creating the trust; and the estate or interest in
     the real property or lands in this State, remaining in the
     trustee or assignee, shall thereon revert to the assignor, or to
     his heirs or assigns, as if the trust had not been created.