The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-11-04

debtors are at the mercy Of their
creditors: and whereas hundreds and
thousands of families have already
lost their homes through mortgage
foreclosures or other judicial proceed
ings; and whereas hundreds and
thousands more will lose their homes
unless ADEQUATE relief is given: there
loie. In order To prevent the utter
rum and destruction Of agriculture,
commerce and industry and the coll
lapse OF civil government and in Or
der 10 maintain the integrity OF fam
lies and their homes. and the public
health, welfare and morals of the peo-
pie Of this State. a partial morator-
ium for a period of three years is
hereby declared on all existing in
debtedness at the time that this act
takes effect. including taxes and debts
due by individuals to the state, coun-
~, or other political subdivisions en-
cept that the benefits Of this act shall
not extend to corporations. nor shall
they extend 10 any person, who, upon
an order TO show cause before any
district court, is found upon compe-
tent evidence TO be financially able to
pay such Indebtedness without sacri-
ficing his home, lands or farm chat
tells or sacrificing his goods or chat
tells with which he creates wealth for
living or which are necessary to
maintain his family.
Sec. .. That it shall be unlawful
for any sheriff. deputy sheriff or his
agent CT any other official of this
state to levy upon, attach, seize or
sell any personal property Of what
ever, nature, other than excepted in
Section ] hereof, under an execution
issued upon Judgment or upon any
other indebtedness existing at the
time that this act takes effect for a
period or three years, provided that
such Judgment debtor or other debtor
pays one per cent interest upon such
judgment debt or other debt annual
ly from the date that this act takes
effect, provided further that in case
such interest Is not paid before the
expiration Of one year that then the
protection of this act shall cease as to
such debtor.
Sec. 8. That upon an execution or
foreclosure sale of real property, or
upon an execution or foreclosure sale
on which sheriffs deed has not yet
issued. no such deed shall issue for a
period Of three years, and the debt or
shall be entitled to redeem for a per-
iod OF three years from the time that
this act takes effect, and he shall be
entitled to the possession, rents, uses
and benefits Of the property so sold
from the date of such sale until the
expiration OF the period of redemp-
ton. provided that the debtor or the
person claiming an interest in such
real estate pays future taxes, togeth.
err with one per cent interest annual.
ly on the amount that such property
was or is sold for: provided further
before the expiration Of any year that
then the protection Of this act shall
cease as to such person.
Sec. 4. That tine state shall not
foreclose or cancel any land contract
during the period that this morator-
ium is in force. and that in all cases
where the state has heretofore fore
closed or cancelled such contract and
| is still the owner Of the land that
| then the same shall be reinstat ted up
chaser, or any person claiming
through him, upon the payment OF
one per cent interest Of the amount
! due within one year from the date
purchaser or anyone claiming through
such purchaser shall have period OF
three years within which to comply
with the terms and conditions of such
, contract, provided however. that the
purchaser or those claiming through
him. pay future taxes and one pei
cent interest per annum on the pur.
chase price from the date that this
act takes effect.
Sect. s. That no county shall is
sue deed upon any tax certificate
now outsta nding for a period Of three
years from the date that this act takes
effect provided that the debtor or tht
person claiming an interest in thu
real estate SOU LOT taxes pays one
per cent interest annually on thu
amount that such property was or /!
sold for. provided further that in case
such interest Is not paid before tn,
expiration OF any year that then thu
protection Of this act shall cease a!
to such person, and in all cases wher,
heretofore a tax deed has been issuft
to the county, and the county is still
the owner Of the real estate. then tn
former owner, or any person inter
ested in such real estate, shall hav'
the period during which this morator
ium Is In effect to repurchase sucl
lands upon application, provided sucI
purchaser pays one per cent interes
annually Of the amount Of taxes due
together with future taxes: such ap
plication. however, must be mad
; within one year from the date tina
: this act takes effect.
Sec 8. That nothing In this ac
! shall he construed 3s preventing an
y mortgagee or lien holder from fore
closing his mortgage Or lien, or al