, 1860-04-28

The Changes In t},% coift's sfom La.rs Of Io.ca
made OF the Eighth Eienss- i .5ss.mhiH,

tc.r1c:pon1elce Of The P1es. and T1itun7]
DEs Mo1*Ei tN:il ed, 1860.
The Legislature lasiug adjourned aflcr the
passage OF large number Of acts, some good,
some had aad others indifferent, it may be
either interesting or profitable to many Of your
numerous readers, who haze not followed the
course OF Legislative proceedings through the
writer to know the changes made in the iaTs
relating to the collection Of debts.
First, mention two new chapters in tho
criminal Law, one for the punishment Of 1nort:a-
gors Of personal property for running of, or
concealing, or in any ray disposing Of the
property morsgased withcu: The consent of tho
mortgage or his assignee: This law will
double the valuo Of this kind Of securities.
Heretofore worthless mertagor. CT team,
could drive or send it away to a distant mart of
The State, sell it and pocket the proceeds, conc
back and tell Lis creditor with impunity to fiud
his securities il he wants them. Nov. he will
keep the team. or be sure to rema;n with it.
The second, is Inv to punish the taking Of
property he.d by an officer under m execution,
and the penalty will step many little "sharp
practices for spirisiDg away property wh:c!.
has been levied upon, though not removed.
The next act, in chronological order is Chap
tcr1o; au ac, regulating the foreclosure OF deeds
Of trust. This law provides thai nil deeds oi
trusts sLa1l hereafter be foreclosed by civil
action, the same rs mortgages. Since the lew
Of The Sevcntl General Assembly requiring al
to be forec1csed BY civil action, mortgages haze
became quite Questionable, aal deeds Of trust
haye been the principal real estate securities
taken Tn loans OF manty. Now that these Sc
curi,ies nust travel Though the slow t.cad-
mill Of the court before the lnaner can recover
his money and there bc subject to the Eeur's
redemption hereinafter mentioned, The loyal
mind mustbc taxed for some other form Of te-
curitie-. Indeed other methods are already
devised 10 avoid litigation in the collection os
loans. One is m eutly Of confession Of Iu e.
ulent On tue court records, with a stipulation
for stav of execution for the lime Of tue loan
Another 10. Il is to take deed absolute, and
give back decd in escrow, which with tho
paoper observance legal minu.ia in the trans
action, is probably the safer method.
The next luw is for giving orc year to the
defendant ia all these foreclosure cases within
which he ,nay redeem the land. As the Law
heretofore stood, the decree was an absolute
foreclosure Of the G1frItaut's eouities aud tue
tA' *F AtA+ SnI4A+ SssIE A0AG4 III N-AtE&1-
uon Issued On u foreclosure decree, took an ai,.
solate title. llenee'orth he tuics title subject
TO he deicetcd within one year By redemption.
The next important change in the Iaw is
1aw for the appraisment Of all property, both
real and personal, talen on execution. The
of1icer is reqn.red to hare this appraiacment
made, unless by written direction from the de-
fendant. TIE appraisers are selected, one by
tue plaintiff, one by the defendant, or in the
abscpcc of tit1Ier, by the sheriff in his stead,
aod those two sprgaise tue property at its cash
value. IL ,ley disug, e.. tiley call a third. two
Of whom shall d. eide. Tae sheriff shall not cell
the property unless tn wo-1hirds Of such appraisal
is bid ther-fcr. Il not sol!. no subseuueut exc
cution can issue for six months. e1crnt al 1he
cost Of The plaintiG. After Two offers of The
propcrty ut liz appraised yaluc, it NAV then be
so,d tn ihc 1l;.,hcsr hidd.r afinr I'll saI.s nm,