CAP, XX

An act to provide for the more effectual Extinction of Secret Incumbrances on Lands,than was heretofore in use in this Province.

(14th March, 1829.)

Were, to secure the property and possessions of His Majesty’s subjects, and to prevent the disturbances and evictions which frequently arise from secret mortgages, unknown to the purchasers of such property and possessions, by which said mortgages, purchasers have been often obliged, after having bona fide paid the prices of such property and possessions, again to pay large sums of money by reason of such secret mortgages, or to relicquish and give up such property and possessions, it is necessary {o establish certain rules and provisions which may recancile the opposite interests of individuals in this matter : and for this purpose to establish, in an invariable manner, the order and stability of hypothecs, and to fix a certain and easy course for preserving them, s0 that on the one hand purchasers of immoveables, whether immoveables real, or immoveables hy fiction of law, may make such purchases with confidence and obtain a valid disch ge after they shall have paid the price of such immoveable: ; and on the other hand, the vendors of such immoveables may, within a known and reasonable time, receive such price or purchase money, without incurring the delays and heavy expenses which have been and are incidnt to Sheriff’s Sales, the only mode of security to which purchasers so circumstanced, have hitherto been‘able to resort. And whereas also, such Sherifl”s Sales are altogether too expensive to be resorted to where the immoveables sold are ofsmall value: Be it therefore enacted by the King’s Most Excellent Majesty, by and with the advice and consent of the Legislative Counciland Assembly of the Province of Lower Canada, constituted and assembled by virtue of and under the authority of an Act of the Parliament of Great-Britain, intituled, ‘ An Act to repeal certain parts of an Act “ passed in the fourteenth vear of His Majesty’s Reign. intituled, € a Act for making more effectual provision for the Government

A. D. 1829 Anno nono Georgii IV. C. 30. 1il