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I, Joshua Hunter, of Binghampton, Broome county, New-York, do hereby certify that a cer- Form. tain mortgage, bearing date the 10th day of April, one thousand eight hundred and fifty, made and executed by John Selden, and Margaret, his wife, of the same place, and recorded in the Office of the Clerk of the County of Broome, in Liber 50, page 75, of Mortgages, on the 12th day of April, 1851, is paid. Dated 1st May, 1851.
BROOME COUNTY, NEW-YORK, ss. :
On the first day of May, 1851, before me came Joshua Hunter, to me personally known to be the individual described in, and who executed the above certificate, and acknowledged that he executed the same.
CORNELIUS HAIGHT, Justice.
their powers and prive ileges.
guardians are appointed to act for them; such appointment must be made by a competent court.
89. Corporations are associations established Corporaby the Legislature under a given name and for a specified purpose; they can neither give nor receive valid conveyances of land, unless authorized by the act which incorporates them, or by a competent Court.
90. When land is sold for taxes in this state, the owner has two years from the sale to redeem Sale for the same, but at the expiration of that period, the Comptroller gives a full title to the purchaser, and there can be no redemption. The sale of unoccupied lands for taxes is often extensive.
91. Lands lying under water, along rivers and lakes, are subject to peculiar laws. They under do not absolutely belong to the adjoining owner,
Power of Attorney to Sell Lands.
know all Men by these Presents, that I, Wil
liam Ketchum, of the village of Po’keepsee', Parties. County of Dutchess, and State of New York,
Grocer, have made, constituted, and appointed, and, by these presents, do make, constitute, and appoint, Anson Homer, of the City of New York, my true and lawful attorney for me, and in my name, place, and stead, to execute and deliver to Willard Hone, of the same city, a good and sufficient deed of the premises numbered nine, University Place, in said City, upon the receipt of
the sum of two thousand dollars, which I hereby Purpose. authorize said Homer to receive : said premises
are bounded and described as follows: (here description if it is desired,) giving and granting unto my said attorney full power and authority to do and perform all and every act and thing whatsoever, requisite and necessary to be done in and about the premises, as fully to all intents and
for the state has rights in them which must be surrendered before the adjoining owner's title becomes absolute.
92. A Mortgage is a conditional conveyance of property to secure money due or loaned; the person who mortgages his property is called the mortgagor; the person to whom the mortgage is given is called the mortgagee. We have given the full form of a mortgage, with a clause providing
for insurance. The similarity to a deed will be Analogy. readily noticed, “provided always,” here the dif
93. Although the wife joins in the mortgage, and thereby releases her right of dower, and al
though her name is stated as one of the parties venants. of the first part, still the husband alone makes the
band alone co
purposes as I might or could do if personally present, with full power of substitution and revocation, hereby ratifying and confirming all that my said attorney, or his substitute, shall lawfully do, or cause to be done, by virtue hereof.
In witness whereof, I have hereunto set my hand and seal the twelfth day of April, one thousand eight hundred and fifty-one.
Sealed and delivered in the presence of
covenants afterward, as in the words, "and the said John Selden."
94. The mortgage must also be recorded in the County Clerk's office, or in the Office of the Register. This recording makes an acknowledg- endedos ment necessary, and it is made either before a Commissioner or a Justice of the Peace: there are books expressly for the record of mortgages, and also for the record of deeds (Art. 67). There may be a mortgage upon leased property.
95. In New-York an immediate mortgage back to the grantor as security for part of the Immedipayment, does not require the signature of a wife, since dower does not attach when the deed and mortgage are of the same date.
96. The equity of redemption is the right of the person who mortgages to redeem the property
DUTCHESS County, New-YORK, ss :
Be it known, that on the 12th day of April,
one thousand eight hundred and fifty-one, before Acknowl me personally came William Ketchum, known to
me to be the individual described in, and who executed the above Power of Attorney, and acknowledged that he executed the same.
STEPHEN HICKS, Justice.
of the City and County of
Equity. mortgaged. The foreclosure of a mortgage is a demp- process which cuts off the power of redemption.
The property does not at once belong to the mortgagee as soon as the interest is left unpaid, or as soon as the principal becomes due, but a regular
foreclosure suit is usually commenced, and sale sure suit made, and the property must be purchased by the
mortgagee at such sale before it absolutely becomes his own. When this is not done, a formal process of advertisement is resorted to, and sale made in public, and a deed given with the same effect as in foreclosure.
97. A bond is usually given by the mortgagor, bearing even date with the mortgage, but
the absence of this will not make the instrument and date. less valuable as a mortgage (Art. 60). The amount of property mortgaged is very great, es
Assignment of Mortgage. know all men by these presents, that I, William Rogers, of the City of New York, merchant, of the first part, for and in consideration of the sum of five hundred dollars, lawful money of the United States, to me in hand paid by James Tanger, of the same City, of the second part, at or before the ensealing and delivery of these presents, the receipt whereof is hereby acknowledged, have granted, bargained, sold, assigned, transferred, and set over, and by these presents do grant, bargain, sell, assign, transfer, and set over unto the said party of the second part, a certain Indenture of. Mortgage, bearing date the 20th of May, one thousand eight hundred and forty, made by Lewis Conger, and Ann, his wife, to the party of the first part, and recorded in the Office of the Register of the City and County of New York, in Liber 75, of Mortgages, page 30, together with the bond or obligation thereto belonging, and the
pecially in cities, and the system of mortgaging of propis well calculated to answer the purposes of commercial men where quick transfers are required. The mortgage is removed from record by filing in the office in which it is recorded a certificate Satisfaccalled a Satisfaction Piece. 98. The assignee of a mortgage acquires all
Rights the rights and interest of the assignor. The as- of the assignment refers to the mortgage itself, in order to signee. show clearly what mortgage is assigned, since there may be others similar to it. The assignment of the mortgage must be acknowledged and recorded, for reasons quite as obvious as for re
ledged cording the mortgage itself (Art. 94). The sig. nature of the wife is not necessary in making the assignment (Art. 95), since the right gained by mere possession of the mortgage is not of a real