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Clement Dorsey. The general public statutory law and public local law of the state of Maryland : from the year 1692 to 1839 inclusive, with annotations thereto,and a copious index.
Volume 141, Page 2529   View pdf image (33K)
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CHANCERY.] PUBLIC GENERAL LAW. 2529

any time after filing the same to be recorded, to submit to the chan-
cellor, or to Baltimore county court or any judge thereof, the said
conveyances or copies under seal of said county court thereof, and
the said chancellor or court or judge aforesaid, may thereupon
forthwith decree, that the mortgaged premises shall be sold at any
one of the periods limited in said conveyances for the forfeiture of
said mortgages, or limited for a default of the mortgagors, and on
such terms of sale as to the chancellor, court or judge shall seem
proper; and shall appoint by said decree a trustee or trustees for
making such sale, with requisition of bond and surety for perform-
ance of the trust as is now usual in cases of sales of mortgaged
property.

SEC. 3. And be it enacted, That the said trustee or trustees, after
giving bond with surety as aforesaid, may after the arrival of the
period limited by the said decree for the said sale, sell agreeably to
the terms of said decree, the said mortgaged property or any part
thereof the mortgagees, their executors or administrators, (or their
assigns if the mortgage claim shall have been assigned) before such
sale, and after the arrival of the period aforesaid, verifying by their
oath before the chancellor or a judge aforesaid, a statement of the
amount of said mortgage claim remaining due, and filing such state-
ment in the court of rhancery or the Baltimore county court, as the
case may be, and such sales and the conveyances thereupon shall
have the same effect, if finally ratified by the court of chancery or
the Baltimore county court, as the case may be, as if the same had
been made under decrees between the proper parties in relation to
the mortgages, and in the usual course of the said courts.

SEC. 4. And be it enacted, That said trustee or trustees shall
report the said sales to the court of chancery or the Baltimore
county court, as the case may be, for its consideration and ratifica-
tion or rejection, and that orders shall pass therein touching such
ratification as is now practised on sales of mortgaged property in
said courts; it being, however, hereby provided, that as cause
against such ratification any allegations may be made and proof
under the orders of the said courts exhibited, and a trial of the
allegations had as such courts shall prescribe, to shew that the
sales aforesaid ought not to have been made ; upon being satisfied
of the truth of which allegations the said courts respectively shall
reject and set aside the said sale, and in such case no part of the
costs or expenses or trustees' commission, if any such commission
be claimable, in relation to the said sales shall be chargeable upon
said property or the mortgagors, their heirs, executors, administra-
tors or assigns ; but wholly chargeable against the persons at whose
instance or for whose benefit the said sales shall have been proposed
to be made.
317

 

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Please view image to verify text. To report an error, please contact us.
Clement Dorsey. The general public statutory law and public local law of the state of Maryland : from the year 1692 to 1839 inclusive, with annotations thereto,and a copious index.
Volume 141, Page 2529   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>


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