§ 34-4-6 - Trustee of timber land subject to life estate.
SECTION 34-4-6
§ 34-4-6 Trustee of timber land subject tolife estate. – When it appears that wood and timber standing on land, the use and improvementof which belongs, for life or otherwise, to a person other than the owner ofthe fee in the land, have ceased to improve by growth, or ought for any causeto be cut, the superior court may on petition appoint a trustee, and authorizeand empower the trustee to sell and convey the wood and timber, to be cut andcarried away within a time to be limited in the order of sale, and to hold,invest, reinvest, and change the investment of the proceeds thereof, afterpaying therefrom the expenses of the sale, and to pay over the income, abovethe taxes and other expenses of the trust, to the person entitled to the useand improvement while his or her right thereto continues, and, at theexpiration of the right, to pay the principal sum to the owner of the land.When wood and timber have been cut as provided by this section, no more shallbe cut on the land by the person entitled to the use and improvement withoutpermission from the court. When a sale is authorized under this section, thetrustee shall give, to the person as the court shall designate, a bond for theuse and benefit of the persons interested in the proceeds of the sale, withcondition for the faithful discharge of the trust; and the court may from timeto time remove the trustee and appoint another in his or her stead, or fill avacancy in the trusteeship whenever occasion may require.