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Application of Price of Redemption, whether paid in Money or in Land.
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3. In case the Owner of such Rent, shall have only a limited Estate therein, if the Price agreed to be paid for the Redemption thereof shall be a Sum of Money in gross it shall be paid to the Trustees appointed by the Deed or Instrument whereby the Estate or Interest of such Owner of Rent shall be limited, or to the Trustees to be appointed when necessary by the Landed Estates Court as herein-after mentioned, for Application in the manner herein-after mentioned, and if the Price shall be of Land it shall be conveyed to and held by such Trustees in lieu of the said Rent, subject to the same Trusts, Limitations, and Charges as the Rent had previously been subject to.
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