The New Civil Court Manual; Being the Sixth Edition of the "Civil P. Code and Other Acts," Improved and Enlarged (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1883 Excerpt: ... then both are mortgaged to secure another debt, and the former debt is paid out of the former property, each property is, in the absence of a contract to the contrary, liable to contribute rateably to the latter debt after deducting the amount of the former debt from the value of the" property out of which it has been paid. Nothing in this section applies to a property liable under section eighty-one to the claim of the second mortgagee. Deposit in Court. 83. At any time after the principal money has become payable, and Power to deposit in Court before a suit for redemption of the mortgaged mouey due on mortgage. property is barred, the mortgagor, or any other person entitled to institute such suit, may deposit, in any Court in which he might have instituted such suit, to the account of the mortgagee, the amount remaining due on the mortgage. The Court shall thereupon cause written notice of the deposit to Right to money deposited be served on the mortgagee, and the mortgagee by mortgagor. may, on presenting a petition (verified in man ner prescribed by law for the verification of plaints) stating the amount then due on the mortgage, and his willingness to accept the money so deposited in full discharge of such amount, and on depositing in the same Court the mortgage-deed if theu iu his possession or power, apply for aud receive the money, and the mortgage-deed so deposited shall be delivered to the mortgagor or such other person as aforesaid. 84. When the mortgagor or such other person as aforesaid has tendered or deposited in Court under section Cessation of interest. eighty-three the amount remaining due on the mortgage, interest ou the principal money shall cease from the date of the tender, or as soon as the mortgagor or such other person as afor...