The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1880-02-25
A Proposed Redemptlon a..


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SECTION J.. - 81 enacted hy the Legislature
OF the state Of Mississippi, That where real
estate sod Tor debt shat be redeymahlg at any
tlme Wltulu Two years after sucE sair-where
lt is sold under execution, decree or Judgment
founded upon % foreclosure ot mortgage deed
or 'rust or otherwise unless upon application
or compialnau. ihe court order that the
laha or property ne SOFA on credit of NOT less
thAh Twelve months then right of redemption
/ Is ohiy 20 cNIeui Tor one yeas and when
laud ls sold Tor lIs taxes theu 40 rs 60 Poe re-
/ deemed as ihe law u"w stands.
Sc. 2 he ~ further enacted That any
/ depior whose interest ga real estate has been
/ So sold and 's subject to redemption. may res
oeeA ''ld interest ny paying the purchaser
/ or % any one claiming under him, the amount
old on pnd by him. with Interest thereon
! at the rate ol clgat per cent. Der nuuum, to-
gelher WIN an olhef lawful charges but IL
+ lhe purchaser L. BONA noe creditor by iuig-
me4lr decree, or "to' acAnoWlelged by decd,
"u' "''"lH "'"3 ""SS aI',f ihe sale he
ha@ts an ADVANCE "h hls hid and cred
Us ms deul ny uepuSiung q receipt there
Iofe WIN the ei'tN or tur court in which
tue judgment or decree was rtudvredi
/ or, II tHe sale was under decd
OF ltu~ OF nor gage ht AcAho"icdges p rec
celpt OF such ADVANCE before the clerk of the
county court Tor reg s,rauon, and causes che
same 10 ht rtEIsitfti pa iur county where the
land lies, then Die shall bold the property sub.
jet 10 redemption at tAr price bad and such
an advance just AS II he hlu tbe whole sum at
he time of the safe.
SEC. B. BE it, further enacted, That bona
hde creditor who reIerms from the purchaser
at the sale shall hold the property subject to
redemption boy the original debtor or amy
other Of hls creditors upon the same terms on
which II was rcdecmable ina She hands of the
hrst purchaser or any person claiming under
hlmi that - 10 say 10y the PARTY proposing to-
redeem paying or rendering tp the person
holding the land the amount of money paid or
credited by bins aforesaid, with interest nc
the rate OF elght per cent. per anuUm theron,
ana a $50 agreeing 90 pay TO the debtor the
the further sum Of eight per cent. or
more on the sum hld iur said land when sold,
or crediting him with that amount OF more ON
the debt owing 10 hllu by said debtor.
SIC :. Be ~ iurthcr enacted That when
any such creditor has redeemed land from the
original purchaser. or from one who has pre-
ylously redeemed, hc may within twenty days
after said redemption, advance upon his bid
any sum TO the extent OF his debt or debts just
as If he had been the original purchaser.
SEC. D. BE H. further enacted, That real cs-
tate sold for debt and made rrdecmable shall
continue redeemubIc 30 the debtor aud his
creditors for two years after the sale. upon tho
terms afore said, no matter how often il may
have been previously redeemed but the per-
son proposing 10 redeem shall always pay or
tender TO the holder of the llli the amount of
money lawfully paid by him. with interest
thereon al the rate OF eight per cent. per am
mum; and, if he Doe creditor shall pay to the
debtor or credit his debt with a sum equal 90
two per cent. per anuum or more, ON Che sum
bid al the original sale In no case shall "a
holder or claimant OF The property increase
his bid against the debtor, or any bonn ide
creditor Offering TO redeem the real estate. eE-
cept above provided.
Sec: BE IT. further enacted, That no per
son holding The temporary title 10 real estate