NOV. 1785.
CHAP. 72. |
APPENDIX——CHANCERY LAWS.
upon the petition of the mortgagee or mortgagees, or any
person claiming under the mortgage, after summoning the infant,
and his appearance by guardian, to be appointed by the chancellor
for that purpose, and to answer and defend on the part of such infant,
or after the appearance of such person being idiot, lunatic,
or non compos mentis, by the trustee and trustees, or committee
of
such person being idiot, lunatic, or non compos mentis, to be appointed
by the chancellor on behalf of such person for the purposes
aforesaid, and hearing all parties, and being well satisfied of
the execution of the deed of mortgage, and that the sum claimed
by the person making such application is justly due, to order and
decree a sale of such mortgaged premises, or such part thereof as
may be necessary to discharge the debt or debts due on such mortgage,
or the chancellor may decree a foreclosure of the whole or
such part of the mortgaged premises as may be necessary and sufficient
to discharge, pay and satisfy, the debt or debts due upon
and secured by such mortgage, in such manner as the chancellor
shall judge most proper; but if a part only is foreclosed, and such
part shall be esteemed by the mortgagee, or person praying a foreclosure,
insufficient to pay the money secured by such mortgage,
then a sale thereof shall be made in such manner as the chancellor
shall direct, and the money raised by such sale, or so much thereof
as is necessary, shall be applied to discharge the debt secured by
such mortgage; and if money sufficient to pay the debt secured by
the mortgage is not raised by a sale of the part foreclosed and
sold as aforesaid, then the chancellor shall decree a sale of such
other part of the mortgaged premises as will be sufficient for that
purpose. |
Persons applying,
&c. to give bond,
&c. |
2. AND BE IT ENACTED, That in all cases where
a foreclosure
of any mortgage, or sale of any land, shall be applied for, in
which any infant shall be interested, the person or persons applying
for such foreclosure or sale, before any decree of foreclosure
or sale is made, shall give bond, with good and sufficient security,
approved by the chancellor, to the infant, his heirs, executors and
administrators, in such penalty as the chancellor shall direct, with
condition, that in case the infant, within one year after arrival to
age, shall make appear to the satisfaction of the chancellor, that
there was fraud in obtaining the mortgage deed, or that no deed
was really executed, or that the debt claimed, or so much as decreed
to be paid, was not really due, that then the obligor, his
heirs, executors or administrators, will reconvey the mortgaged
premises to the infant, in case of decree for foreclosure, or in case
of sale, to pay to the infant either the whole or such part of the
money raised by such sale as the chancellor shall determine to be
just, and also stand to, or abide by, such order and decree as the
chancellor shall make in the cause; which bond shall be filed and
safely kept by the register in chancery, and also recorded with the
decree in the case; and suit may be maintained either upon the
original or a copy of the record by the infant, his heirs, executors
or administrators, upon breach of the condition, and in such suit
the plea of non est factum shall not be received unless verified
by
the affidavit of the defendant or defendants. |
On application, &.
chancellor
may direct a sale,
&c. |
3. AND BE IT ENACTED, That in all cases of
application to the
chancellor to foreclose any mortgage, he shall have full power and
authority, in case the party against whom the bill shall be filed |
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