A Treatise On Equity Jurisprudence As Administered in the United States of Ame
A Treatise On Equity Jurisprudence As Administered in the United States of Ame
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§1188 as the owners, and the common remedy of the mort^'agee is a de- cree of foreclosure and for the sale of the mortgaged premises. In a few states, hovvever, it is customary for the mortgagee to recover possession, by action at law if necessary, and to cut off the mort- gagor's equity of redemption by a strict foreclosure. The states which have adopted this method in its substantial elements arc Alabama, Arkansas, Connecticut, Delaware, Illinois, Kentucky, ]\Taine, Maryland, AFassaehusetts, ...Mississippi, Missouri, New Hamp- shire, New Jersey, North Carolina, Ohio, Pennsylvania, Rhode Is- land, Tennessee, Vermont, Vii-ginia, and West Virginia.
§ 1188. Second Method— The Equitable Theory Alone. — In this method of treating mortgages, the conflict between the legal and the equitable conceptions is entirely removed. Partly through the adoption of equitable doctrines by the law courts, and partly through the operation of statutes, the legal theory of mortgages has been abandoned, and the equity theory has been left in full force, fur- nishing a single and uniform collection of rules recognized and ad- ministered, so far as necessary, alike by courts of law and of equity.^ The mortgas-e is liot a conveyance, nor does it confer upon the mortgagee any estate in the land.
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To quickly assess the difficulty of the text, read a short excerpt:
§1188 as the owners, and the common remedy of the mort^'agee is a de- cree of foreclosure and for the sale of the mortgaged premises. In a few states, hovvever, it is customary for the mortgagee to recover possession, by action at law if necessary, and to cut off the mort- gagor's equity of redemption by a strict foreclosure. The states which have adopted this method in its substantial elements arc Alabama, Arkansas, Connecticut, Delaware, Illinois, Kentucky, ]\Taine, Maryland, AFassaehusetts, ...Mississippi, Missouri, New Hamp- shire, New Jersey, North Carolina, Ohio, Pennsylvania, Rhode Is- land, Tennessee, Vermont, Vii-ginia, and West Virginia.
§ 1188. Second Method— The Equitable Theory Alone. — In this method of treating mortgages, the conflict between the legal and the equitable conceptions is entirely removed. Partly through the adoption of equitable doctrines by the law courts, and partly through the operation of statutes, the legal theory of mortgages has been abandoned, and the equity theory has been left in full force, fur- nishing a single and uniform collection of rules recognized and ad- ministered, so far as necessary, alike by courts of law and of equity.^ The mortgas-e is liot a conveyance, nor does it confer upon the mortgagee any estate in the land.
What to read after A Treatise On Equity Jurisprudence As Administered in the United States of Ame?
You can find similar books in the "Read Also" column, or choose other free books by John Norton Pomeroy to read onlineMoreLess
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