§ 78. Effect of assignment. 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.