When real estate has been sold under authority of this chapter, and, with the exception
of persons not in being, or persons having contingent interests therein, the life
tenant or other person having a vested interest therein, who brought the action, is
entitled to the entire proceeds of the sale, the court may direct the proceeds of
the sale to be paid to the life tenant or other person having a vested interest, upon
the execution by him of a bond, with sufficient surety, to the superior court of New
The bond shall be conditioned that, in the event of the birth of any person not in
being at the time of the making of the direction for payment, who might have an interest
in such real estate or in the proceeds arising from a sale thereof, or of the vesting
of any contingent interest therein, such life tenant or other person will repay into
the court such proceeds, or such part thereof as he may be directed to pay by the
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