Section 78. Effect of assignment

Latest version.

The assignment vests in the trustee or
  trustees all the petitioner's interest, legal or equitable, at the  time
  of  its  execution,  in any real or personal property, not exempt by law
  from levy and sale  by  virtue  of  an  execution;  and  any  contingent
  interest which may vest within three years thereafter. When a contingent
  interest  so  vests,  it passes to the trustee, in the same manner as it
  would have vested in the petitioner, if he had not made an assignment.

                    
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