without the mortgagor's consent, the assignee will not be entitled to charge interest on the sums paid.* If the mortgagor should concur for the purpose of giving interest on such sums, it will be considered in the light of a further advance, and a proportionate ad valorem stamp accordingly payable.

Assignment of a mortgage where the mortgagor joins.

The mortgagor, or his assignees or representatives, are entitled to redeem the premises on payment of principal, interest, and costs, and such expenses as the mortgagee may have incurred in the protection and preservation of the property, at any time within twenty years next after the mortgagee entered into possession or receipt of the rents of the property, or from the time at which a written acknowledgment of the mortgagor's title was given to the owner, or one of the owners, of the equity of redemption by the mortgagee or person claiming under him; but where the mortgage was originally made to, or subsequently becomes vested in several persons, an acknowledgment by one of such persons will only preserve the right of redemption in the share of the premises to which such person was entitled ; but after the expiration of the period of 20 years, no bill for redemption will be entertained.

Assignment of

fee when the

not a party,

On the transfer of a mortgage in fee, where the mortgagor joins, the premises are conveyed to the new mortgagee, with a fresh proviso for redemption, and the old mortgagee covenants that he has done no act to incumber, and the mortgagor covenants for the title, as in the original mortgage.

Where the mortgagor is not a party to the assigna mortgage in ment, the principal and interest due is first assigned mortgagor is with a power of attorney, and then the premises are conveyed by the mortgagee to the assignee, subject to such right and equity of redemption as the premises are liable to under the original mortgage; with covenants that the mortgagee has not received,

• Ante, 437, n.

See post. Stamps.

₫ 3d and 4th William IV. c. 27, sec. 28; ante, 173.

released, or assigned the mortgage-money or interest, that he has done no act to incumber the premises, and for further assurance.

demise.

On the transfer of a mortgage by demise, the Transfer of a original security should be recited, and the amount mortgage by due thereon should be set forth, also the agreement by the new mortgagee to lend the sum required by the mortgagor to pay off the old mortgagee. The premises are then assigned by the words "bargain, sell, assign, transfer, and set over" to the new mortgagee, his executors, &c.; to hold for the residue of the term, subject to a proviso that, upon payment of the principal and interest on a given day, the new mortgagee will surrender the term to the mortgagor, his heirs or assigns, or that he will assign the same to such person or persons as he or they shall direct or appoint.

demise is converted into a

If the new mortgagee requires that the mortgage Where the shall be converted into a mortgage in fee, the inden- mortgage by ture for such purpose will be made between the mortgagor of the first part, the mortgagee of the term of mortgage in the second part, and the intended mortgagee of the fee. third part. After reciting the mortgage by demise, that the money remains due, that payment has been required, and that the new mortgagee has agreed to lend the sum of L. to enable the mortgagor to pay off the original sum, and to supply his other occasions, the mortgagor grants, bargains, sells, and releases; and the mortgagee, for the purpose of surrendering the term, will assign, surrender, and yield up, unto the new mortgagee, his heirs and assigns, with the usual proviso for redemption, as in a mortgage in fee; the old mortgagee must covenant that he has done no act to incumber; and the mortgagor will enter into covenants as in other mortgages in fee.

Upon the advance of a further sum, the further Further charge should contain a covenant and declaration by charge.

e If it is intended to keep the term on foot, the fee may be conveyed by the mortgagor to the assignee, the first mortgagee assigning the term to a trustee. Ante, p. 441.

Loans by trustees.

the mortgagor that the premises shall stand and be a security as well for the last sum advanced and interest as for the former loan, and that the mortgagee shall stand seised of the premises "in trust, out of the rents and profits of the hereditaments to raise such sums of money as will pay off as well the sum last advanced and interest as the former sum and interest, and subject thereto, to the (mortgagor in fee.") If an attendant term has been assigned in the mortgage, the further charge should contain a declaration that the trustee shall stand possessed of the term, in trust for securing as well the sum last advanced as the sum before lent, with interest on them both.

It may be useful to notice, for the guidance of trustees having money to invest, that, in a recent case, Stickney v. Sewell, 1 M. and Cr. 8, the present Lord Chancellor, when Master of the Rolls, stated, that to advance two-thirds of the value of property is admitted to be within the rule of ordinary prudence, but, added the learned judge, that is with reference to property of a permanent value, as freehold land. The same rule does not apply to property in houses, which fluctuates in value, and is always deteriorating.

CHAPTER XXVI.

NOTARIAL FORMS.

CERTIFICATES.

letter of attor

I, J. M., of, &c., notary-public, by royal authority Certificate of duly admitted and sworn, do hereby certify and at- the due exetest unto all whom it may concern, that the letter of cution of a attorney hereunto annexed was duly signed and ney. sealed by A. B., therein named, in my presence, and in the presence of C. D., of, &c., and E. F., of, &c. Whereof an act being requested, I have granted the same under my notarial firm and seal of office, to serve and avail as occasion shall or may require. Done and passed at, &c., aforesaid, this of, &c., in the year of our Lord 18

day

of a person.

On this day of, &c., before me, J. M., notary- Certificate of public, by, &c., personally came and appeared A. B., the identity of, &c., and C. D., of, &c., who severally declared, that they these appearers have for many years known and been well acquainted with E. F., son of G. H., late of, &c., but now of, &c.; and that these appearers verily believe the said E. F. to be the residuary heir named in the will of I. K., of, &c., aforesaid, deceased. And I do hereby certify, that the signature of the said E. F., written and subscribed hereunder, is of the true and proper handwriting of

Certificate of baptism.

Certificate of a duplicate protest.

of a chief magistrate.

the said E. F., he having subscribed the same in the presence of these appearers, and also in my presence. In testimony whereof, I have hereunto set my hand, at, &c., this, &c.

I, J. M., of, &c., notary-public, by, &c., do hereby certify and attest unto all whom it may concern, that A. B., by whom the annexed certificate of baptism is written and signed, is the clerk of the parish church of ; that he wrote and signed the same in my presence; and that to his certificates, in his said quality, full faith and credit are given in court and thereout. And I do further certify and attest, that I saw and examined the register of the said baptism in the book kept in the vestry of the said church, from whence the same was extracted by the said parish clerk; and that I found the said certificate to be a true and faithful copy thereof. In testimony, &c.

I, J. M., of, &c., notary-public, by, &c., do hereby certify, &c., that the above and before written is a duplicate or true copy of a certain instrument of protest made before me, taken and extracted from my register of all notarial acts by and before me granted and passed, marked

ness, &c.

folio

In wit

Certificate of I, J. M., of, &c., notary-public, by, &c., do hereby the signature certify, &c., that the signature A. B., mayor, at the foot of the foregoing affidavit, is of the own and proper handwriting of the right honourable A. B., lord mayor of this city, in whose presence oath was this day administered, in due form of law, to Mr C. D., the deponent named in the said affidavit, and who signed the same in my presence; wherefore full faith and credit ought to be given thereto in court and thereout. London, this day of, &c.

Certificate of an account.

I, J. M., of, &c., notary-public, by, &c., do hereby certify, &c., that the account hereunto annexed is a true and faithful extract from the book called the ledger of Mr A. B., of, &c.; I, the said notary, having this day collated the same, and found it to agree