Evening Republican, Volume 22, Number 226, Rensselaer, Jasper County, 18 September 1919 — RE-PURCHASE OF FARM IS COSTLY TO MONTICELLO MAN. [ARTICLE]

RE-PURCHASE OF FARM IS COSTLY TO MONTICELLO MAN.

Monticello, Sept. 17.—Purchasing a farm twice Tn the short period of six weeks and paying $5,500 more for it the second time than he did the first time was the experience of Michael Renck, of this city, who on August 9 ‘bought a farm of 160 acres in West Point township for $13,400 and on Monday of this week re-purchased the farm for >5118,900, or $5,500 more than the original purchase price. The double purchase was caused by a provision of a law affecting the sale of land in partition suits, passed by the 1919 legislature. The law provides that when land is sold in partition suits, any person may file a bond for 10 per cent more than the purchase price within thirty days of the day of sale and cause the land to be re-sold. Few people, including even attorneys, are familiar with the statute. In this case the bond was filed by Charles Kleist, of Wolcott, on the thirtieth day and Albert Jones, of Wolcott, signed the bond as surety. -i-ats-E. B. Seyyers, an attorney of this city, was commissioned to sell the land and when the bond was filed was forced to re-advertise and resell the land in order to comply with the provisions of the law. This he did and on Monday' struck it off to Mr. Renck, the original purchaser, over two other bidders.