MORTGAGES

Freeholds, with
Trust to sell.

(Concise Form.)

No. XXIII.

Mortgage in Fee of Freehold Hereditaments, with a Trust to sell (1) on Default. (Concise Form).

Variations where the Mortgagor took the Estate to Uses to bar Dower.

Where Part of the Premises are Copyhold.

Where Part Leasehold.

Where the Wife of the Mortgagor is Party.

Other Variations as in the Margins below (2).

Recitals.

THIS INDENTURE, made the

in the

day of

year, &c. and in the year of our Lord BETWEEN (the mortgagor) of, &c.

of the one part, and (the mortgagee) (3) of, &c.

of the other part. WHEREAS, &c. (Recital of the
seisin or title of the mortgagor) (4). AND WHEREAS
the said (mortgagee) at the request of the said
(mortgagor) hath agreed to advance him the sum
of £
by way of loan, at interest for the
period of twelve calendar months from the date
herewith; and the repayment thereof being se-

Trust to sell.

Variations.

Mortgagee

trustee.

Recitals.

(1) Of a trust to sell in a mortgage deed, see ante, pp. 234. 252. 455. 480.

(2) See also variations to No. XXI. ante, p. 416, et seq. and No. XXII. p. 480, et seq. in margins.

(3) It is not necessary that the trust for sale should be reposed in a third person, the mortgagee being legally competent to be a trustee for that purpose; but see ante, p. 480, n. (2). (4) See ante, p. 463. n. (2).

Freeholds, with

WITNESS,

mortgagor

mortgagec.

of lawful current Conveys to United Kingdom

cured by a conveyance to him of the lands and mortgages hereditaments hereinafter described, upon the trusts, in the manner, and with the powers herein-Trust to sell. (Concise Form.) after expressed concerning the same (1). Now THIS INDENTURE WITNESSETH, that for and in consideration of the sum of £ money (2) of that part of the of Great Britain and Ireland called England, to the said (mortgagor) well and truly paid by the said (mortgagee) at or before the sealing and delivery of these presents, testified hereby, and by a receipt for the same under the hand of the said (mortgagor) hereupon indorsed, HE the said (mortgagor) (3) HATH granted, bargained, sold, and released, and by these presents DoтH grant, bargain, sell, and release unto the said (mortgagee)

(1) If a bond be given by the mortgagee, see ante, p. 481, Bond. n. (2).

(2) See variations where the consideration is other than Consideration. money paid down, ante, p. 424, notes.

(3) If the mortgagor took to uses to bar dower, say,

Mortgagor and trustee to bar

"By virtue and in pursuance of the hereinbefore in part dower. recited power given to him for that purpose, HATH directed, limited, and appointed, and by these presents DOTH, &c. unto the said (mortgagee) and his heirs, all and singular the messuages, lands, and hereditaments hereinafter described, with the rights, members, and appurtenants to the same belonging, TO HOLD the same unto him the said (mortgagee) and his heirs, to the uses, upon the trusts, and for the ends and purposes hereinafter declared concerning the same. AND this indenture further witnesseth, that for further assurance and for the considerations aforesaid, he the said (mortgagee) HATH," &c. (as above.)

Freeholds, with
Trust to sell.

(Concise Form.)

trust to permit

mortgagor to hold till, &c.

MORTGAGES and his heirs, ALL, &c.(1), with all houses, &c. and all the reversion, &c. in his actual possession, &c. and all the estate, &c. and all deeds, &c. (2), To HAVE and to hold the messuages, lands, tenements, TO HOLD upon and hereditaments, and other the premises hereinbefore granted and released, or otherwise assured or intended so to be, with their and every of their rights, members, and appurtenants unto the said (mortgagee) and his heirs, to the only proper use and behoof of him the said (mortgagee) his heirs and assigns for ever (3); but nevertheless upon trust that he the said (mortgagee) his heirs and assigns, shall and do permit and suffer the said (mortgagor) his heirs and assigns, to receive and retain to and for his and their own use and benefit, all and singular the rents, issues, and profits of the said messuages, lands, and hereditaments until de

Parcels.

General words.

Estate, &c. &c.

Leaseholds.

(1) Here describe the subject of the conveyance by its ancient and present name, situation, tenancy, &c. see ante, p. 32, n. (2), and for descriptions applicable to different species of property, see INDEX, voce PARCELS.

If the mortgagor be entitled by descent, and the vendor's title is not recited, add after the description of the parcels,

"Which said messuages, lands, and hereditaments, were formerly the estate and property of C. B. late of, &c. from whom they were purchased by the said (mortgagor) for a valuable consideration, or by whom they were devised to the said (mortgagor), or from whom they descended to and are now vested in the said (mortgagor) as his heir at law.”

And add general words, to correspond with the nature of the subject of conveyance, &c. which see INDEX, voce GENERAL WORDS. (2) Add the grant of remainders, &c. the estate of the mortgagor, &c. &c. as ante, p. 465, et seq.

(3) If any part of the premises be leasehold, add here an assignment of them, as post, No. XXV.

fault shall happen to be made by him or them in Mortgages

payment of the said sum of £

day of

and interest Freeholds, with next, and from Trust to sell. (Concise Form.)

day of

And to reconvey

on the said and immediately after the said next, in case the said principal and interest money on payment. shall be then paid, UPON TRUST that he the said (mortgagee) his heirs or assigns, shall and do as soon as conveniently may be thereafter, at the request, costs, and charges of the said (mortgagor) his heirs or assigns, reconvey and assure the same hereditaments and premises unto and to the use of the said (mortgagor) his heirs or assigns, or to such other persons, and in such manner as he or they shall direct or appoint; but in case the said sum of Direction to £ and interest shall not be fully paid or satis- made. fied on or within thirty days next after the said

day of
then UPON TRUST, and it is hereby de-
clared and agreed, and the said (mortgagor) doth
direct and declare, that he the said (mortgagee)
his heirs or assigns, shall or lawfully may imme-
diately after the expiration of the said space or
period of thirty days, or at any after or future
time or times without any further or other autho-
rity or assent of the said (mortgagor) his heirs
or assigns, than is hereby given, sell and dispose
of, either by private contract or public sale, or
by way of mortgage, and either together, or in
lots or parcels, and either at one time or at
different times, as he the said (mortgagee) his
heirs or assigns, shall think best, all and singular
the messuages, &c. hereby granted and released,
or otherwise assured or intended so to be, with

sell if default

(Concise Form.)

MORTGAGES their appurtenants, or any part thereof, to any Freeholds, with person or persons whomsoever, for such price or Trust to sell. prices, or sum or sums of money, as he or they shall think proper, and do and shall or lawfully may make, do, and execute, all proper and reasonable acts, deeds, conveyances, and assurances, for completing or perfecting all or any such sale or Application of mortgage, or sales or mortgages (1). AND it is

purchase

money.

hereby declared and agreed, that the said (mort-
gagce) his heirs or assigns, shall stand possessed
of and interested in the money to be raised by
any such sale or mortgage upon trust, that he and
they shall or lawfully may in the first place thereon
retain, reimburse, and pay himself and themselves
all such costs, charges, and expenses, as shall or
may have been sustained or expended in causing
the said hereditaments and premises, or any part
thereof, to be sold or mortgaged, or otherwise
incident to or occasioned by the same, and then
and in the next place, that he the said (mort-
gagee) if living, shall retain, and if not, that his
heirs or assigns shall pay unto his executors or
administrators the said sum of £
of such
lawful and current money as aforesaid, or so much
thereof as shall then remain unpaid, together with
all interest due thereupon; and after full pay-
ment and satisfaction thereof that he the said
(mortgagee) his heirs or assigns, do and shall pay

Wife.

(1) If the wife of the mortgagor be entitled to dower, add here a covenant to levy a fine, as post, No. XXVI.