Red Wing sentinel. [volume] (Red Wing, M.T. [i.e. Minn.]) 1855-1861, 1860-04-04
THE THREE YEARS REDEMPTION

Il ASSSSsOss Wv -
entitled An Act to regulate tha foreclosure
Of Real Estate. approved July twenty ninth
A. D. eighteen hundred and fifty eight, b
viz:s Section one. That any Real 'Estat'
hereafter to b sold upon the execution
Judgement .Nsder Or decree Of AIRY Court j,
this State, or upon the foreclosure by .d
i, vertisemcht, 81 otherwise, Of mortgage
contract liability, shall he held by the par
ty purchasing the Same subject to the right
of tho Judgement debtor or mortgagor, Of
any one claiming through Or under him OF
them, to. redeem the same At any time with
in three years from the day Of such sale
upon paying to the purchaser, mortagagge'
Ior jud sment creditor, the sum or amour
for woich the same was legally sold or tore
closed and interest thereon, ut the rate Of
seven per cent per annu,n. Other creditors
ofthe original Judgement debtor or mortga
gor may 1t any time within three years ait
er such sale reoeem such premises upon, the
same terms . the Judgment debtor o.
mcrtgagori BY paying to the fist o.. previous
purchaser the amount of his bio, and inter
est thereon, Is Aforesaid. and So on as often
~ one purchaser, p,ertgagee,s Or creditor
tshall: puEohass orrsdeeu. from another: Pc
Evitra, bha<:ths originaldebtor his heirs or as
signs shall have the period Of three yeras ioI
the redemption upon (each and every) such
sale, foreclosure or execution (advance o,
redemption) after tho same shall have Leer
made, and notice ;hreof filed in the Office Of
Register Of Deeds in the! county where sucl,
Real Estate shsll bo situated. c.a,ig
2rC q That CacSiDn 'r,uo rO1 ~ co;d
ACT, approved July twenty ninth eighteen
hundred and tifty-eight. be and is hereby
amended so Is to read as follows, viz:-SEc.
2. ProeidId, always, that tho judgement
debtor, mortgagor, or any one claiming
throug h or under him. shall be entitled to
tho possession, rents, use and profits Of any
aud all such premises or real estate SO SOLD
purchased or foreclosed, until the time Of
the expiration of his right Of redemption as
Aforesaid. Provided, thai as q condition for
remaining il possession Of said premises afore.
said. the judgement debtor Or: ,mortgagor
shall pay At the end Of each year the amount
|ofinterest that shalt have accrued since tho
sale. At tho rateef seven per cent per an,
mum, and shall pay all taxes which may be
due against said premises At that time, and
that ifsaid interest is not paid, all right to
retain possession any longer shall be forfeited
on the part otrthe Judgment debtor o,
mortgagor. And. PROVIDED also, that ,h;
Act shall not effect the rights and remedies
conferred upon mechanics and loborers, un
der the existing lien laws, approved March
Goth, 1858. and August 18th, 1858. And
provided. always, that nothing contained il
this Act shall b. construed to effect any sale
which has heretofore been made and this
Act shall not apply to any proceeding o,
foreclosure or otherwise: 10 which the State
or any township. city OF county in this State
shall BE- q party. Provided further, that all
laws in force ut the time 0: the passage Of
this Act, upon the subject Of the redemption
Of property sold upon execution, mortgage
|or order Of court, shalt continue in force
applicable as heretofore. in all cases Of future
sales and redemptions to which this Act
cannot legally extend and apply.
SEC. 8. Any person may. in writing ex-
ecuted and recorded in the same manner as
mortgages are now executed and recorded
waive his right Of REDEMPTION as allowed by
this Act. or any portion Of said time Of re.
ton.
SEC. 4. This Act shall take effect and b.
in force from and sRcr its passage. '.*'%
- AMOS COGGSW WE'LL,
Speaker Of the House of Representatives
lGNATIUS DONNELLY, L.
| ..7E t,9ss H President Of the Senate
iApprovek Mach tenth one thousend eight
hundred and sixty. ALEX, RAMSEY.
|sEcRETAKY's OFFICE, MINNESOTA
March 10th. 1860.
thereby certify the foregoing to be true
copy Of the original Oh file in this Office.
- q, j. II. BAKER. n a:1 T-
Isl i@y@t Secretaryof State. ni