Author: Francis Hilliard

Publisher:

Published: 2015-07-04

Total Pages: 778

ISBN-13: 9781330672518

Excerpt from The Law of Mortgages, Real and Personal Property, Vol. 1 of 2 There are few titles in the law, of higher importance in the United States, than that of Mortgage. With the increase and extension of population, intercourse, and trade, and the consequent enlarged connection of individuals in the relation of creditor and debtor, the cases in which real or personal estate is conditionally transferred, as security for debt, become indefinitely multiplied. The explanation of this fact is found in the consideration, that both creditor and debtor generally prefer a conditional to an absolute transfer; the former, because he seeks payment of his debt, not an acquisition of property; and the latter, because he may thus postpone a pressing claim, and at the same time avoid a sacrifice of his estate. Not only has the transaction in question become a very frequent one, but the relations which it involves or induces are peculiarly various and complicated; leading to nice and difficult questions, which constantly require an appeal to legal tribunals for their settlement. An absolute transfer of property wholly divests the grantor of his title, and vests in the grantee the same simple and unqualified ownership. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.