TRANSFER, THER AD VANCE AND ASSIGNMENT OF TERM. disability be disqualified or rendered incapable to collect or receive the said rents and profits, or shall refuse or neglect to proceed therein in manner aforesaid, or shall otherwise misbehave himself in the trusts hereby in him reposed, new receiver, if whilst the said sum of £2,000, or any interest for the same required. or any part thereof respectively, shall continue on the aforesaid security, then and in any of the said cases, except the death of the said G. H., he the said C. D., his heirs or assigns, shall and will join with the said E .F., his executors, administrators, or assigns, in removing the said G. H. from the said employment, and shall and will in any of the said cases duly constitute, appoint, and authorize such other fit person or persons in the place or stead of the said G. H., as the said E. F., his executors, administrators, and assigns, shall from time to time nominate, to collect, receive, and pay the said rents and profits of the said premises, upon and for the trusts, intents, and purposes hereinbefore mentioned, and so from time to time, when and so often as the like case shall happen, until the said sum of £2,000 and all interest for the same shall be paid to the said E. F.; AND THAT in case the said C. D., his heirs or assigns, shall refuse or neglect so to do for the space of mortgagee may three calendar months next after the death, incapability, or appoint. misbehaviour of him the said G. H., or any other receiver so to be constituted as aforesaid, then and in such case, and so from time to time as often as the like case shall happen, it shall be lawful for the said E. F., his executors, administrators, and assigns, if they shall think fit, without the consent or concurrence of the said C. D., his heirs or assigns, to constitute or appoint some fit person to collect, receive, and pay the said rents and profits upon the trusts and for the intents and purposes aforesaid, with such reasonable salary for his care, pains, trouble, and expenses, as the said E. F. shall think fit, not exceeding £5 for every £100 to be received: PROVIDED ALWAYS, and it is hereby agreed and declared, that the said E. F., his executors, administrators, and assigns, shall not in anywise be charged with or answerable for any loss, mis-application, or nonapplication of the rents and profits of the said premises -and that in case of mort gagor's neglect, Mortgagee not to be answer able for defal cation of receiver. or any part thereof, by reason of any default, neglect, or breach of trust of or in the said G. H., or any future collector or receiver to be appointed as aforesaid, but that such loss, mis-application, or non-application, and every receiver's salary, shall be wholly borne and paid by the said C. D., his heirs, executors, or administrators: PROVIDED ALWAYS, and it is hereby lastly agreed and declared between and by the parties to these presents, that the said G. H., or other the receiver or receivers so to be appointed as hereinbefore is mentioned, shall not act or assist in the execution of the trusts and powers hereinbefore contained, unless and until some half-yearly payment of interest on the said sum of £2,000, or some part thereof, shall be in arrear and unpaid for the space of one calendar month. IN WITNESS &c. TRANSFER, WITH FURTHER ADVANCE AND ASSIGNMENT OF TERM. Proviso that re ceiver shall not act until interest is in arrear. LXXV. which have NOT TRANSFER of MORTGAGE of COPYHOLDS TRANSFER OF COPY HOLDS NOT SURREN DERED. THIS INDENTURE, made &c. BETWEEN A. B., of Parties. &c., [mortgagee], of the first part: C. D., of &c., [ex (a) It is settled that the equitable interest of a covenantee for surrender of copyholds may pass by assignment, and that the assignee may claim to be admitted on the surrender of the covenantor, without any further concurrence of the original covenantee, notwithstanding the covenant may have been presented by the homage. (The King v. The Lord of the Manor of Hendon, 2 T. R. 484). Some remarks on the objections to taking such equitable mortgages of copyholds, may be found supra, p. 600, n. (b); but it is to be observed, that in this case, from the infancy of the owners of the legal estate, the security cannot be altered, and the transferee will run less risk than in ordinary cases. For he may ascertain by inspection of the rolls that there is no existing legal mortgage, and the infants cannot make a subsequent legal mortgage to the transferee's prejudice until they attain the age of twenty-one years. It Assignment of equitable interests in copyholds. TRANSFER OF COPYHOLDS NOT SURREN DERED. Recitals of mortgage and will of mortgagor. -of death of mortgagor leaving infant devisees. ecutrix of mortgagor], of the second part; and E. F., of &c., [transferee], of the third part: [Recites mortgage, ut supra, p. 644: and will of mortgagor devising real estates to his children as tenants in common in fee, and appointing C. D. executrix :] AND WHEREAS the said [mortgagor] died in the month of without having revoked or altered his said will, and leaving several children, all of whom are now infants under the age of twenty-one years: AND WHEREAS the said C. D. proved the said will on the day of - in the Court of -: AND WHEREAS no surrender was made of the said hereditaments in pursuance of the said covenant in that behalf in the said indenture contained: AND WHEREAS the said sum of £is now due and owing on the security of the said indenture of the day of but all interest for the same has been paid up to the day of the date of these presents: -of agreement AND WHEREAS the said A. B. having required payment of the said E. F., at the request of -of probate of will. -of no surrender having been made of copy holds. -of state of mortgage-debt. for transfer. Witnesseth,assignment of the money. Further witnesseth,-assignment of the lands. the said sum of £ the said C. D., has agreed to pay to the said A. B. the said sum of £- upon having a transfer, in manner hereinafter mentioned, of the said mortgage-debt of £— and interest, and the securities for the same: NOW THIS INDENTURE WITNESSETH, that &c., [assignment of the mortgage-debt and interest, supra, p. 646; substituting the executrix for the mortgagor]: AND THIS INDENTURE ALSO WITNESSETH, that, in further pursuance of the said agreement, and for the considerations aforesaid, he the said A. B., at the request and by the direction of the said C. D., (testified by her being a party to and executing these presents), hath assigned, and by these presents doth assign, unto the said E. F., his heirs will be an additional safeguard, if the transferee can procure the covenant for surrender to be presented by the homage as in the case above referred to, as there will then be a notice of his security on the rolls. He will of course obtain the custody of the copies of covenant roll and other muniments. The executrix of the mortgagor is made a party, in order to acknowledge that the whole debt is still owing, for the transferee is bound by the state of account between the mortgagee and the estate of the mortgagor. (See supra, p. 643, n. (a) ). TRANSFER OF COPYHOLDS and assigns, THE SAID copyhold and customary messuages, lands, hereditaments, and premises hereinbefore particularly NOT SURREN mentioned, and by the said indenture of the day of DERED. covenant. covenanted to be surrendered as aforesaid, with their Parcels. rights, easements, and appurtenances: AND ALL the estate &c., TOGETHER with the benefit of the said covenant for And benefit of the surrender of the said premises, and full power to sue thereon in the name or names of the said A. B. or his heirs, and all other powers and means necessary for enforcing the performance of the same, To HAVE AND TO Habendum. HOLD the said messuages, lands, and hereditaments, and all and singular other the premises lastly herein before assigned, or expressed and intended so to be, unto the said E. F., his heirs and assigns, subject to such right or equity of redemption as is now subsisting in the said premises under and by virtue of the said indenture of the day of -; [Covenant by A. B. with E. F., his heirs, executors, Covenant. administrators, and assigns, against incumbrances, supra, IN WITNESS &c. p. 654]. LXXVI. TRANSFER of MORTGAGE of COPYHOLDS where TRANSFER OF AFTER ADMIT COPYHOLDS TANCE. THIS INDENTURE, made &c. BETWEEN A.B., of &c., Parties. [mortgagee], of the first part; C. D., of &c., [mortgagor], of the second part; and E. F., of &c., [transferee], of the third part; [Recites covenant by C. D. to surrender copyholds to Recital of mortA. B., his heirs and assigns, by way of mortgage for securing age. £1,000 and interest at £5 per cent., supra, p. 598]: AND WHEREAS, at a court holden in and for the said manor of on the day of, the said C. D., in pursuance of the said covenant in that behalf in the said indenture contained, of surrender and admittance. TRANSFER OF duly surrendered the said hereditaments and premises to the COPYHOLDS TANCE. -of debt remaining due and interest having been paid. -of agreement for transfer and further ad vance. AFTER ADMIT- use of the said A. B., his heirs and assigns, in manner and subject as in the said indenture and hereinbefore is mentioned; and at the same court A. B. was admitted tenant of the same premises accordingly: AND WHEREAS the said principal sum of £1,000 still remains due and owing upon the securities aforesaid, but all interest for the same has been paid up to the day of the date of these presents: AND WHEREAS, [recites agreement for transfer and further advance, supra, p. 652]: NOW THIS INDENTURE WITNESSETH, that &c., [assignment of mortgage-debt and assignment of interest, supra, p. 646]: AND THIS INDENTURE ALSO WITNESSETH, that, in further pursuance of the said agreements, and for the considerations aforesaid, he the said A. B., at the request and with the privity of the said C. D., (testified by his being a party to and executing these presents), and so far as relates to the acts and deeds of him the said A. B., and the acts and deeds of his heirs, and as to such of the hereditaments hereinafter particularly mentioned or referred to as were comprised in the said surrender of the Witnesseth, debt. Witnesseth,further covenant to surrender. day of, doth hereby for himself, his heirs, executors, and administrators, and he the said C. D., as to all and singular the said hereditaments hereinafter particularly mentioned or referred to, doth hereby for himself, his heirs, executors, and administrators, covenant with the said E. F. and his heirs, that they the said A. B. and C. D., or their respective heirs, shall and will, at or before the next court to be holden in and for the said manor of at the costs and charges of the said C. D. or his heirs, well and effectually surrender or cause or procure to be surrendered by all proper parties into the hands of the lord or lady, lords or ladies of the said manor of —, [parcels-part being described by reference to the previous covenant and conditional surrender and admittance, and part by description and reference to the admittance of the mortgagor, see supra, p. 316-general -to the use of words], TO THE USE of the said E. F., his heirs and assigns, to be holden of the lord or lady, lords or ladies of the said manor, according to the custom thereof, by and under the rents, -discharge of fines, heriots, suits, and services therefore due and of right accustomed, FREED and absolutely discharged from the said Parcels. transferee. former mort gage. |