25-2193. Encumbrances; life estate or estate for years; settlement in gross; investment of proceeds.

If an estate for life or years be found to exist as an encumbrance upon any part of said property, and if the parties cannot agree upon the sum in gross which they will consider an equivalent for such estate, the court shall direct the avails of the encumbered property to be invested, and the proceeds to be paid to the encumbrancer during the existence of the encumbrance.

Source:R.S.1867, Code § 826, p. 540; R.S.1913, § 8309; C.S.1922, § 9261; C.S.1929, § 20-2193; R.S.1943, § 25-2193.