| Volume 194, Page 789 View pdf image (33K) |
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4 & 5 W. & M. CAP. 16, CLANDESTINE MORTGAGES. 789 gage any Lands or Tenements to any Person or Persons, for security of Money lent, or otherwise accrued or become due, or for other valuable Considerations; and if the said Mortgager or Mortgagers shall again mortgage the same Lands or Tenements, or any part thereof, to any other Person or Persons for valuable Considerations (the said former Mortgage being in Force and not discharged) and shall not discover to the said second or other Mortgagee or Mortgagees, or some or one of them, the former Mortgage or Mortgages in Writing under his or their Hands; that then and in those Cases also, the said Mortgager or Mortgagers, his, her, or their Heirs, Executors, Adminis- trators, or Assigns, shall have no Relief or Equity of Redemp- tion against the said second or after Mortgagee or Mortgagees, his, her, or their Heirs, Executors, Administrators, or Assigns, upon the said after Mortgage or Mortgages, but that such Mort- gagee or Mortgagees, his, her. or their Heirs, Executors, Admin- istrators, and Assigns, shall and may hold and enjoy such more than once mortgaged Lands, and Tenements, for such Estate and Term therein, as were or was granted and conveyed by the said Mortgager or Mortgagers, against him. her, or them, his, her, or their Heirs, Executors, or Administrators, respectively, freed from Equity of Redemption, and as fully to all intents and purposes, as if the same had been an absolute Purchase, and without any power or liberty of Redemption. IV. Provided always, and be it further enacted by the Au- thority aforesaid, That nevertheless if it so happen there be more than one Mortgage at the same time made, by any Person or Persons to any Person or Persons, of the same Lands and Tenements, the several late or under Mortgagees, his, her, or their Heirs, Executors, Administrators, or Assigns, shall have power* to redeem any former Mortgage or Mortgages, 580 upon payment of the principal Debt, Interest, and Costs of Suit, to the prior Mortgagee or Mortgagees, his, her, or their Heirs, Executors, Administrators, or Assigns; anything therein contained to the contrary thereof in any wise notwithstanding. V. Provided always, That nothing in this Act contained shall be construed, deemed, or extended to bar any Widow of any Mortgager of Lands or Tenements from her Dower and Right in or to the said Lands, who did not legally join with her Husband in such Mortgage, or otherwise lawfully bar or exclude her self from such her Dower or Right. |
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| Volume 194, Page 789 View pdf image (33K) |
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