The Penn's Grove record., 1891-05-22

An Act to amend su act entitled "An act concern
ing mortgages [ReyisionL approved March TWEEN
ty-seyenth. one thousand eigIt hundred and sew
cnty-fOur.
/. BE it enacted by the Senate and General As
sembly of the State OF New Jersey, That section six
of the act entitled AN act concerning mortgages"
[fievisionb approved March twenty,seventh, one
thousand eight hundred and scventy-four. be and
the same is hereby amended go as to read as fol-
lows:
O. And be it enacted, that where any person holds
q mortgage against any lands or real estate situate
in this state, and the mOrtgagor, or those holding
under him, has absc0nded, %c1nceals himself, is un-
known to the holder of said mortgage, or Is dead,
aud his heirs or deyisces are wholly unknown,
or come part of them are unknown, IL shall be
lawful for the holder of any such mortgage
to file a bill in the court of CHANGER setting up any
of the facts above stated, and naming in said bill
the mortgagOr, OF person holding under him. and
said suit may proceed in the same manner as if all
the owners of such real estate were known, max
ing such absent or unknown owner or owners of
said real estate a party or parties thereto, by a
publication. according to the law and practice
of said court. in case OF absent defendants,
and, in the order of said publication, describing
such real estate in such manner and terms rs
will identify the same by (abuttals and bound.
ares, or otherwise and naming the mortgagor
or other person last owning the said real es-
tate, which order. of the chancellor may be pub-
lished in one or more of the newspapers of this
state or elsewhcre, directing such absent or un-
known owner or owners to appear, plead, answer
or demur to the said bill, within such time as the
chancellor shah direct. not less than two nor more
than six months from the date of such order: which
order shall be published, as aforesaid, within
twenty days from the date thereof, and continued in
said newspaper or newspapers at least once n week,
to within ten days of the expiration of the time
limited to appear, plead, answer or dcmur; and at
THE expiration of the time limited in said order, the
chancellor shall make sGch decree against said alb
sent or unknown owner or owners, as If they were
known to the court, and as may be equitable and
Just, and shall have power TO decree a sale of said
mortgaged premises and that the equity of redemp-
ton be forcclosed aud cut of, in the same manner as
if all the owners or persons in interest were known,
and by name had be made parties to said suit; and
the chancellor shall further decree that the pro-
ceeds OF sale, after the payment OF the complain
ants mortgage, with the costs of foreclosure and
sale. and such other liens or eneumberanccs as may
have been established and ordered paid by the
chancellor In such foreclosure proceeding, shall
be deposited with the clerk of the court, and by
him deposited, by order of the court, in any desig-
mated depository of moneys paid into the court of
chanccry. for the benefit of such absent or unknown
owners, and the chancellor shall order the payment
thereof from time to time to those who are entitled
to receive the same, and Us they shall be asccrtained
by the court.
2. And be it enacted, That this act shall be
deemed a public act, and shall take effect immedl-
ately.
Approved March Q, 1891.