Taxation, etc. (No. 2) Act 1695

XXXVI. If Interest of Money lent by Company run in Arrear for Two Years together, and Principal Money not paid within Three Years after Demand, as herein mentioned, Estate of Debtor may be sold on Notice.

And for the better enableing the said Corporation to recover the Moneys to be from time to time lent by them on Securities of Lands or other Interests or Estates as aforesaid Be it enacted That in case the Interest to grow due thereon shall be behind and unpaid for Two Yeares together & that the said Corporation shall by a Monthly Account or other publick Advertisement demand the Principal Money due on the Lands or other Estates or Interests in respect whereof such Interest shall be unpaid and that the Principal Money so demanded shall not be paid within Three Yeares next after such demand that in such case the said Corporation or their Trustees att any time after the end of the said Three Years upon giving Twelve Months Notice in Writing under the Co[m]mon Seale of the said Corporation to be left att the House or Place [X1 of] Residence of the Owner of such Land or Estate of the Day and Place for exposeing the said Lands or other Interests or Estates to a Publick Sale shall or lawfully may by such Publick Sale sell the same Lands or other Interests or Estates to the best Purchaser & out of the Money ariseing by Sale detaine and keep to themselves the Moneys to them due thereon and all Costs and Charges relateing thereunto returning the Overplus (if any be) to the Owners of such Lands or other Interests or Estates and that then and in such case the Owner of such Lands or other Interests or Estates except the Owner of such an Estate be an Infant without his or her joyning in the Conveyance thereof shall stand absolutely foreclosed from all Equity of Redemption of the same.

Editorial Information

X1 Variant reading of the text noted in The Statutes of the Realm as follows: or O. [O. refers to a collection in the library of Trinity College, Cambridge]