The law of friendly societies, and industrial and provident societies, with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index

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Monograph

Identifikator:: 875232663

URN:: urn:nbn:de:zbw-retromon-2698

Document type:: Monograph

Title:: The law of friendly societies, and industrial and provident societies, with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index

Place of publication:: with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index$gTenth edition, revised and enlarged

Publisher:: Shaw and Sons

Year of publication:: 1881

Scope:: 1 Online-Ressource (XII, 303 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Part I. Registered friendly societies

Collection:: Economics Books

78 38 & 39 Vict. Cap. 60, s. 16. shall, from time to time, if the society [or branch] so require, admit the trustees (not to exceed three) of such society [or branch] as tenants in respect of such hereditaments, on payment of the usual fines, fees, and other dues payable on the admission of a single tenant (a). (7.) Discharge of mortgages hj receipt endorsed.—A receipt under the hands of the trustees, countersigned by the secre tary, in the form contained in the third schedule to this Act, or in any form specified by the rules of the society [or branch], or any schedule thereto, for all moneys secured to the society [or branch] by any mortgage or other assurance, such receipt being endorsed upon or annexed to such mort gage or other assurance, vacates the same, and vests the property therein comprised in the person entitled to the equity of redemption of the same, without re-conveyance or re-surrender ; hut this provision does not apply to Scot land or to the Island of Jersey (5). (8.) Registration of receipt.— If such mortgage or other assurance has been registered under any Act for the regis tration or record of deeds or titles, or is of copyholds or lands of customary tenure and entered on any court rolls, the registrar under such Act, or recording officer, or steward of the manor, or keeper of the register, shall on production of such receipt, verified by oath of any person, enter satis faction on the register or on the court rolls respectively of such mortgage or of the charge made by such assurance, and shall grant a certificate, either upon such mortgage or (a) This clause is new as regards friendly societies, but was contained in the Industrial and Provident Societies Act, 1871 (34 & 35 Vict. c. 80, s. 2), and the Building Societies Act, 1874 (37 & 38 Vict. c. 42, s. 28). (i) These clauses are new as regards friendly societies, and extend to them a privilege which has been enjoyed since 1836 by building societies under 6 & 7 Wm. 4, c. 32, s. 5, and 37 & 38 Vict. c. 42, s. 42; and since 1871 by industrial and provident societies (34 & 35 Vict. c. 80, s. 3). It is really not so much a privilege to the society as to the mortgagor; and it is difficult to find any substantial reason why all mortgages should not be made dischargeable by receipt endorsed. See the judgment of Sir G. Jessel, M.R., in Fourth City Mutual Building Society v. Williams. Law Rep. 14 Ch. D. 140, and Appendix, Note E.

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