|
|
CHAPTER
156
MORTGAGES |
ARRANGEMENT OF
SECTIONS |
SECTION |
|
In Actions concerning Mortgages or Ejectments, no
Suit then depending to foreclose such Mortgage, the Mortgagor's tendering the
Principal, Interest, and Costs in Court shall be deemed a full Satisfaction,
and the Court may compel the Mortgagee to surrender the Premises. |
On Bills filed to compel the Payment of the
Mortgage and Specialties, or foreclose the Equity of Redemption, the Court, on
Defendant's Request, may proceed to a Decree before a regular Hearing and all
Parties shall be bound thereby as if the Cause had been regularly heard. |
This Act not to extend to Cases where the Right
of Redemption is controverted or the Money due not adjusted, or to prejudice
any subsequent Mortgagee. |
CHAPTER 156 |
MORTGAGES |
An Act
for the more easy redemption and foreclosure of mortgages. | 7 Geo. 2, c. 20
extended by 2 of 1799 |
[A.D. 1733] |
1. [This Act may be cited as the Mortgages Act.] | Short title. |
2. Where any Action shall be brought on any Bond for
Payment of the Money secured by such Mortgage or Performance of the Covenants
therein contained, or where any Action of Ejectment shall be brought in any of
His Majesty's Courts ...... by any Mortgagee or Mortgagees, his, her, or their
Heirs, Executors, Administrators, or Assigns, for the Recovery of the
Possession of any mortgaged Lands, Tenements, or Hereditaments, and no Suit
shall be then depending in any of His Majesty's Courts ...... for or touching
the foreclosing or redeeming of such mortgaged Lands, Tenements, or
Hereditaments, if the Person or Persons having Right to redeem such mortgaged
Lands, Tenements or Hereditaments, and who shall appear and become Defendant or
Defendants in such Action, shall at any Time pending such Action pay unto such
Mortgagee or Mortgagees, or, in case of his, her or their Refusal, shall bring
into Court where such Action shall be depending, all the Principal Monies and
Interest due on such Mortgage, and also all such Costs as have been expended in
any Suit or Suits at Law or in Equity upon such Mortgage (such Money for
Principal, Interest, and Costs to be ascertained and computed by the Court
where such Action is or shall be depending, or by the proper Officer by such
Court to be appointed for that Purpose), the Monies so paid to such Mortgagee
or Mortgagees, or brought into such Court, shall be deemed and taken to be in
full Satisfaction and discharge of such Mortgage, and the Court shall and may
discharge every such Mortgagor or Defendant of and from the same accordingly,
and shall and may, by Rule or Rules of the same Court, compel such Mortgagee or
Mortgagees, at the Costs and Charges of such Mortgagor or Mortgagors, to
assign, surrender, or reconvey such mortgaged Lands, Tenements, and
Hereditaments, and such Estate and Interest as such Mortgagee or Mortgagees
have or hath therein, and deliver up all Deeds, Evidences, and Writings in his,
her, or their Custody relating to the Title of such mortgaged Lands, Tenements,
and Hereditaments, unto such Mortgagor or Mortgagors, who shall have paid or
brought such Monies into the Court, his, her, or their Heirs, Executors, or
Administrators, or to such other Person or Persons as he, she, or they shall
for that Purpose nominate or appoint. | In Actions concerning Mortgages or Ejectments, no Suit
then depending to foreclose such Mortgage, the Mortgagor's tendering the
Principal, Interest, and Costs in Court shall be deemed a full Satisfaction,
and the Court may compel the Mortgagee to surrender the Premises. |
3. Where any Bill or Bills, Suit or Suits shall be
filed, commenced, or brought in any of His Majesty's Courts, ...... by any
Person or Persons having or claiming any Estate, Right, or Interest in any
Lands, Tenements, or Hereditaments, under or by virtue of any Mortgage or
Mortgages thereof, to compel the Defendant or Defendants in such Suit or Suits
(having or claiming a Right to redeem the same) to pay the Plaintiff or
Plaintiffs in such Suit or Suits the Principal Money and Interest due on any
such Mortgage, or the Principal Money and Interest due on such Mortgage
together with any Sum or Sums of Money due on any Incumbrance or Specialty
charged or chargeable on the Equity of Redemption thereof, and in default of
payment thereof to foreclose such Defendant or Defendants of his, her, or their
Right or Equity of redeeming such mortgaged Lands, Tenements, or Hereditaments,
such Court where such Suit or Suits shall be depending, upon Application made
to such Court by the Defendant or Defendants in such Suit having a Right to
redeem such mortgaged Lands, Tenements, or Hereditaments, and upon his or their
admitting the Right and Title of the Plaintiff or Plaintiffs in such Suit, may
and shall, at any Time or Times before such Suit or Cause shall be brought to
Hearing, make such Order or Decree therein as such Court or Courts might or
could have made therein in case such Suit or Cause had then been regularly
brought to Hearing before such Court or Courts, and all Parties to such Suit or
Suits shall be bound by such Order or Decree so made to all Intents and
Purposes as if such Order or Decree had been made by such Court at or
subsequent to the Hearing of such Cause or Suit, any Usage to the contrary
thereof in anywise notwithstanding. | On Bills filed to compel the Payment of the Mortgage
and Specialties, or foreclose the Equity of Redemption, the Court, on
Defendant's Request, may proceed to a Decree before a regular Hearing, and all
Parties shall be bound thereby as if the Cause had been regularly heard. |
4. Provided always, That this Act, or anything herein
contained, shall not extend to any Case where the Person or Persons against
whom the Redemption is or shall be prayed shall (by Writing under his, her, or
their Hands, or the Hand of his, her, or their Attorney, Agent, or Solicitor,
to be delivered, before the Money shall be brought into such Court at Law, to
the Attorney or Solicitor for the other Side), insist, either that the Party
praying a Redemption has not a Right to redeem, or that the Premises are
chargeable with other or different Principal Sums than what appear in the Face
of the Mortgage, or shall be admitted on the other Side, nor to any Case where
the Right of Redemption to the mortgaged Lands and Premises in question in any
Cause or Suit shall be controverted or questioned by or between different
Defendants in the same Cause or Suit, nor shall be any Prejudice to any
subsequent Mortgagee or Mortgagees or subsequent Incumbrancer, anything in this
Act contained to the contrary thereof in anywise notwithstanding. | This Act not to extend to Cases where the Right of
Redemption is controverted or the Money due not adjusted, or to prejudice any
subsequent Mortgagee. |
|
|