Tenant for life or years may receive sum in gross — Consent.

Any person entitled to an estate for life or years in any undivided part of the property, whose estate shall have been sold, shall be entitled to receive such sum in gross as may be deemed a reasonable satisfaction for such estate, and which the person so entitled shall consent to accept instead thereof, by an instrument duly acknowledged and filed with the clerk.

[Code 1881 § 582; 1877 p 122 § 586; 1869 p 139 § 535; RRS § 868.]