Blades v. Spitzer

“In all cases where there is a vested interest in real estate, and) a contingent remainder over to persons who are not in being, or when the contingency has not yet happened which will determine who the remaindermen are,” the land may be sold for reinvestment in real estate to be held upon the same contingencies and, pending such reinvestment in land, the proceeds may be loaned or invested in approved securities. G.S. 41-11. Under the provisions of this statute the action for sale authorization is a special proceeding and must be instituted by one having a vested interest. Barnes v. Dortch,…