The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-11-03

debtors are at the mercy OF their
creditors; and whereas hundreds anu
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
tore. IN order to prevent the utter
rum and destruction of agriculture,
commerce aud industry and the COL
lapse OF civil government and in or
der 10 maintain the integrity OF tam
lies ana their homes. aud the public
health. welfare and morals of the peo-
pie Of this STATE, partial morator-
ium for period Of three years is
hereby declared on all existing IN
dehtedness at the time that this act
takes effect. including taxes and debts
due by individuals to the state, coun-
~. Or other political subdivisions. eX-
cept that the benefits of this act shall
not extend to corporations, nor shall
they extend to any person. who. upon
an order to show cause before any
district court. is found upon compc-
tent evidence 70 be financially able TO
pay such Indebtedness without sacri-
ficjng his home, lands or farm chat
tells or sacrificing his goods or chat
tells with which he creates wealth for
a living or which are necessary to
maintain his family
Sec. .. That it shall he unlawful
for any sheriff, deputy sheriff or his
agent or any other official Of this
state 10 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 OF 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. 3. That upon an execution or
foreclosure sale Of real property, or
upon an execution or foreclosure sale
OF real property heretofore made up
on which sheriffs deed has not yet
issued, no such deed shall issue for a
period OF three years, and the debtor
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-
tion. provided that the debtor or the
person claiming an interest in such
real estate pays future taxes, togeth-
er 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 the 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 reinstated up
on the application Of the original pur-
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 a 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.
now outstanding for period OF three
years from the date that this act takes
effect provided that the debtor or the
person claiming an interest in the
per cent interest annually on the
amount that such property was or IL
sold for. provided further that in case
such interest is not paid before thu
expiration Of any year that then tn.
protection Of this act shall cease al
to such person. and in all cases where
heretofore a tax deed has been issued
to the county. and the county is still
the owner Of the real estate. then the
former owner. or any person inter
ested in such real estate, shall have
the period during which this morat tor
ium Is in effect to repurchase such
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. s, That nothing In this ac
shall be construed as preventing an,
! mortgage or lien holder from fore
J closing his mortgage Or lien. or a