| 202
Dec. Ses. 1825. |
JOSEPH KENT, ESQUIRE, GOVERNOR.
whose benefit such deed shall be made, shall not have any benefit
or advantage from the recording thereof, unless every instrument
and writing, operating as a defeasance of the same, or explanatory
of its being designed to have the effect only of a mortgage,
or conditional deed be also therewith recorded. |
Sale of lands,
&c. by mortgage
not to be
defected. |
3. And be it enacted, That no sale
of any lands, tenements or
hereditaments or chattels made, or to be made, in virtue of this
act, by any mortgagee or others thereunto authorised by special
power for that purpose, from any person entitled to the equity
of redemption therein, shall be defeated to the prejudice of any
bona fide purchaser thereof, in favor or for the benefit of any
person claiming such equity of redemption: Provided, that
nothing
herein contained, shall be construed to prejudice any other
mortgagee of the same premises, or any part thereof, whose title
accrued prior to such sale, or any creditor to whom the mortgaged
premises, or any part thereof, were before bound by any
judgment at law or decree in equity: And provided also, that
nothing herein contained shall operate to secure any such purchaser
under any power executed heretofore, or hereafter to be
executed for the purposes of such sale, unless the party executing
the same, be of the age of at least twenty-five years. |
Sale regulated
—advertisement
required. |
4. And be it enacted, That all such
powers to mortgagees,
made, or to be made, authorising sales, shall be executed, acknowledged
and recorded as deeds and conveyances usually are
before the conveyances for the sale be executed, and every such
sale shall be at public auction or vendue, and public notice shall
be given thereof by advertisements, one copy thereof to be inserted
and continued at least once a week for six successive
months previous to the sale, in one of the newspapers published
in the county where the mortgaged premises lie; and if no newspaper
be published in said county, then, and in that case the notice
aforesaid, shall be published in one of the newspapers in the
county nearest to the mortgaged premises, where a newspaper is
printed, and another copy thereof to be fixed upon the outward
door of the court house of the county in which the said premises,
or the greater part thereof, are situate. |
Affidavit of
advertisement
and certificate
of sale
to be recorded
—record evidence. |
5. And be it enacted, That in every
case where the sale of
mortgaged premises in virtue of a special power for that purpose
contained in the mortgage, has taken place, an affidavit
stating the publishing of the advertisement of sale in a newspaper,
and made by the printer of the said newspaper;
and also an affidavit stating the fixing of a copy of the
advertisement upon the outward door of the court house,
and made by the person who fixed the same upon the
said door; and also, an affidavit stating the circumstances respecting
the sale of the mortgage premises, and made by the
person who acted as auctioneer at the sale, and certified and recorded
as hereinafter directed; or the record of either of the
said affidavits, shall be received in every court of law or equity |
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