release effec SEC. 532. A release made as provided in the foregoing sections by the original creditor holding a mortgage for the security of a debt, or tual, etc. by any indorsee or assignee of said debt who shall also hold an assignment of said mortgage, shall be as effectual to extinguish said mortgage as if the mortgagee rad executed a deed of release of the incumbered property; but if the original creditor secured by mortgage has not assigned either his debt or his mortgage, the owner of the incumbered property may, at his election, on payment of the debt, require a deed of release from the mortgagee. SEC. 533. SURVIVAL OF TITLE.-Whenever a mortgage or deed of trust to secure a debt is executed to two or more mortgagees or trustees in fee simple, upon the death of any one or more of them the legal title and the trust attached to it shall be held to survive to the survivor or survivors and the heirs of the last survivor, subject to the provisions aforesaid. Survival of title. SEC. 534. DEATH OF MORTGAGEE OR TRUSTEE.-In case of the death Death of mortof a sole mo:tgagee or trustee, or the last survivor of several, if the gagee or trustee. Proceeding for debt secured by the mortgage or deed of trust shall not have been paid, appointment of the party entitled thereto may file a petition in the supreme court of new trustee. said District, setting forth under oath the execution of the mortgage or deed of trust, the death of the mortgagee or trustee, and the fact that the debt secured by the said mortgage or deed of trust remains unpaid, and such other fact as may be necessary to entitle the petitioner to the relief prayed, and praying for the appointment of a trustee to execute the trusts of the said mortgage or deed of trust. It shall not be necessary to make the heirs at law of the deceased mortgagee or trustee parties to such proceeding. The court may thereupon lay a rule upon the debtor or parties whose property is bound by said mortgage or deed of trust, unless they shall voluntarily appear and admit the allegations of the petition, to show cause, under oath, on or before the tenth day, exclusive of Sundays and legal holidays, after the service of such rule, why the prayer of said petition should not be granted. If said party or parties can not be found in said District, service of said rule shall be by publication, according to the practice in equity in said court. If no cause be shown, notwithstanding the service of said rule, against the prayer of said petition, the court may determine in a summary way whether said debt remains unpaid, and if satisfied thereof the said court may, by decree, appoint a new trustee in the place of the deceased mortgagee or trustee, and vest in him all the title at law and in equity, and all the powers that had been conveyed to and vested in the deceased mortgagee or trustee. Defenses against SEC. 535. DEFENSES AGAINST FORECLOSURE.-If matter of defense against the foreclosure of said mortgage or the enforcement of said foreclosure. deed of trust be set up in answer to said rule, the further proceedings shall be according to the practice in equity after answer filed. SEC. 536. In case of the death of any trustee appointed as aforesaid Death of trustee without having executed the trusts of the mortgage or deed of trust, a appointed as aforelike proceeding to the above may be had to appoint a successor to him said. in the said trusts. ecute release after SEC. 537. RELEASE AFTER DEATH OF MORTGAGEE, AND SO FORTH. Proceedings for In case of the death of a sole mortgagee or trustee or the last survivor appointment of of several, as aforesaid, if the debt secured by the mortgage or deed trustee, etc., to exof trust shall have been paid, and it is desired by the party paying the death of mortsame to obtain a deed of release, the said party may file a petition in gagee. said supreme court of the District, setting forth, under oath, the execution of said mortgage or deed of trust, the death of the mortgagee or trustee, the payment of the debt, and any other fact necessary to entitle the petitioner to the relief prayed, and praying for the appointment of a trustee in the place of the deceased mortgagee or trustee to execute a deed of release of said mortgage or deed of trust. Appointment of new trustee. -service on existing trustee. Terms of sale. It shall not be necessary to make the heirs of the deceased mortgagee or trustee a party to such proceeding. The court may thereupon lay a rule upon the creditor secured by said mortgage or deed of trust, unless he shall voluntarily appear and admit the allegations of the petition, to show cause, under oath, on or before the tenth day, exclu sive of Sundays and legal holidays, after the service of said rule, why the prayer of the petition should not be granted. If said party can not be found in said District, service of said rule shall be by publication according to the practice in equity in said court. If no cause be shown, notwithstanding the service of said rule, against the prayer of the petition, the court may determine in a summary way whether said debt has been paid, and if satisfied thereof may, by decree, appoint a trustee in the place of the deceased mortgagee or trustee and invest in him the title, in law and in equity, that was in the deceased mortgagee or trustee, for the purpose of executing a deed of release as aforesaid. If matter of defense against the prayer for a release of said mortgage or deed of trust be set up in answer to said rule, the further proceedings shall be according to the practice in equity after answer filed. SEC. 538. APPOINTMENT OF NEW TRUSTEE.-In case of the refusal of any trustee named in a deed of trust to secure a debt to accept the trusts thereby created, or of his resignation of said trust after accepting the same, which is hereby allowed, or of his removal from the District of Columbia, or of his inability to act, or for any other good cause shown, said trust being executed, it shall be lawful for any party interested in the execution of such trusts to apply to said court by petition, setting forth the appropriate facts and asking for the appointment of a new trustee in his place, and a like proceeding shall be had for the appointment of such trustee as in the case of the death of a trustee, as directed in sections five hundred and thirty-four and five hundred and thirty-seven aforesaid: Provided, That any rule to show cause issued in such case shall be served upon the existing trustee, as well as upon the parties interested in the trust, if he and they can be found within the said District. SEC. 539. TERMS OF SALE.-If the length of notice and terms of sale are not prescribed by the mortgage or deed of trust, or be not left therein to the judgment or discretion of the mortgagee or trustee, any person interested in such sale may apply to the court, before such sale is advertised, to fix the terms of sale and determine what notice of sale shall be given, which terms shall be such as to secure to the creditor the payment of his debt in cash as nearly as may be consistent with justice; and the determination of the court in the premises shall be binding on all parties in interest. Delay of party SEC. 540. INJUNCTION AGAINST SALE.--If any party interested and notified to apply duly notified of an intended sale under any mortgage or deed of trust, for prevention of as directed in section five hundred and thirty-nine aforesaid, shall fail sale. to make application to the court to prevent such sale within the time. covered by such notice, such party shall not be entitled afterwards to be relieved against such sale except upon the conditions that a satisfactory excuse be shown for the delay in making application therefor, and all expenses incurred in and about such sale or attempted sale be first paid by him and a valid defense against the foreclosure of said mortgage or deed of trust be shown. Injunction against sale. SEC. 541. No sale under a mortgage or deed of trust shall be enjoined on the ground that the amount claimed by the creditor secured thereby is in excess of the true amount due him, unless the party seeking such relief shall set forth and show what amount is justly due and shall offer to pay the amount so admitted to be due. SEC. 542. DEBTOR NOT TO BID.-At any sale made under a mortgage or deed of trust the debtor or other person owning the property and for whose default the sale is made shall not be allowed to bid: Provided, That this shall not be construed to prohibit a part owner from bidding at such sale in order to acquire title to the entire property sold. -part owner. SEC. 543. MORTGAGEE BUYING.-At any sale under a mortgage, Mortgagee buyfairly made by the mortgagee, at public auction, the mortgagee him- ing. self may buy in the property on account of the mortgage debt. SEC. 544. CREDITOR BUYING.—If a creditor, for the payment of Creditor buying. whose debt property shall be sold under a deed of trust, shall become the purchaser at such sale, he shall be entitled to credit the amount of the purchase money against the debt, and shall be only required to pay to the trustee the excess of the purchase money over his debt, together with such additional amount as may be necessary to defray the expenses of the sale. Expenses and SEC. 545. EXPENSES AND COMMISSIONS.-Among the lawful expenses of a sale under a mortgage or deed of trust is to be allowed a commis- commissions. sion on the proceeds of sale to the mortgagee or trustee. Where the mortgage or deed of trust does not fix the rate of commission the mortgagee or trustee shall be allowed a commission of five per centum on the first five hundred dollars and three per centum on the balance of the purchase money actually paid by the purchaser at any sale, and one and one-half per centum on the amount of the purchase money not paid into the hands of the mortgagee or trustee, but credited on the debt, when the creditor becomes a purchaser. When the property is lawfully advertised for sale under a mortgage Commission or deed of trust, and the sale is prevented by payment of the debt or where sale adveris suspended or postponed by arrangement between the parties inter- tised is postponed. ested, the trustee shall be entitled to a commission of one per centum on the amount of the debt secured in addition to the expenses incurred by him, and he shall be entitled to such allowance as often as such advertisement shall be made necessary by the default of the debtor: Provided, That if a sale shall actually take place under any such advertisement, he shall not be entitled to more than one such allowance in addition to his commission on the proceeds of an actual sale. SUBCHAPTER THREE. DEEDS OF CHATTELS. SEC. 546. RECORDING.-No bill of sale or mortgage or deed of trust to secure a debt of any personal chattels whereof the vendor, mortgagor, or donor shall remain in possession, shall be valid and effectual to pass the title therein, except as between the parties to such instrument and as to other persons having actual notice of it, unless the same be executed, acknowledged, and within ten days from the date of such acknowledgment recorded in the same manner as deeds of real estate, as herein directed, and as to third persons not having notice of it, as aforesaid, such instrument shall be operative only from the time within said ten days when it is delivered to the recorder of deeds to be recorded. -limit. Deeds of chat tels. Recording. Conditional SEC. 547. CONDITIONAL SALES.-No conditional sale of chattels in virtue of which the property is delivered to the purchaser, but by sales. the terms of which the title is not to pass until the price of said chattels is fully paid, shall be valid as against third persons acquiring title to said property from said purchaser without notice of the terms of said sale, unless the terms of said sale are reduced to writing and signed by the parties thereto and acknowledged by the purchaser and recorded in the same manner as a chattel mortgage, as hereinabove provided; and said writing shall be indexed as if the purchaser were a mortgagor and the seller a mortgagee of such chattels, and shall be operative as to third persons without actual notice of it from the time of being so recorded. of. Deeds, recorder Appointment and duties. Deputy recorder. Vacancy; deputy to act. -no additional expense. Typewritten rec ords. Fees. Salary. SUBCHAPTER FOUR. DEEDS, RECORDER OF. SEC. 548. APPOINTMENT AND DUTIES.-There shall be a recorder of deeds of the District, appointed by the President, by and with the advice and consent of the Senate, who shall record all deeds, contracts, and other instruments in writing affecting the title or ownership of any real estate or personal property in the District which shall have been duly acknowledged and certified, and who shall perform all requisite services connected therewith, and shall have charge and custody of all the records, papers, and property appertaining to his office SEC. 549. DEPUTY RECORDER. The recorder of deeds is authorized to appoint a deputy recorder, and all deeds of conveyance, leases, powers of attorney, and other written instruments required to be filed and recorded, and all copies of instruments and records and certificates authorized by law, filed, recorded, made, and certified by the deputy recorder shall have the same legality, force, and effect as if performed by the recorder. SEC. 550. VACANCY.-In case of a vacancy in the office of the recorder by death, resignation, or other cause the deputy recorder shall act until a recorder shall be duly appointed and qualified: Provided, That no additional expense shall be incurred by the District for said deputy and no other fees shall be allowed than are now provided by law. SEC. 551. TYPEWRITTEN RECORDS.-The recorder of deeds is authorized and empowered to purchase and use in his office, for the recording of deeds and other instruments of writing required by law to be recorded in said office, typewriting machines, to be paid for as appropriations may be made from time to time; and all deeds and other instruments of writing entitled by law to be recorded in said office which shall be recorded by typewriting machines are hereby declared to be legally recorded. SEC. 552. FEES.-The legal fees for the services of the recorder shall be as follows, namely: For filing, recording, and indexing, or for making certified copy of any instrument containing two hundred words or less, fifty cents, and fifteen cents for each additional hundred words, to be collected at the time of filing and when the copy is made. For each certificate and seal, twenty-five cents. For searching records extending back two years or less next preceding current date, twenty-five cents, and five cents for each additional year, to be paid by the party for whom the search may be made. For recording a town plat, three cents for each lot such plat may contain. For recording a plat or survey, five cents for each course such survey may contain. For filing and indexing any paper required by law to be filed in his office, fifteen cents. For taking any acknowledgment, fifty cents. SEC. 553. SALARY; SURPLUS TO BE PAID INTO THE TREASURY. The recorder of deeds of the District of Columbia shall not retain of the fees and emoluments of his office for his personal compensation over and above his necessary clerk hire and the incidental expenses of his office, certified to by the supreme court of the District of Columbia, or by one of its justices appointed by it for that purpose, and to be audited and allowed by the proper accounting officer of the Treasury, a sum exceeding four thousand dollars a year or exceeding that rate Surplus to be for any time less than a year; and the surplus of such fees and emolupaid into the ments shall be paid into the Treasury to the credit of the District of Treasury. Columbia: Clerks. Provided, That the number of clerks and others employed in the office of the recorder of deeds shall not be increased, except that additional copyists may be employed for temporary service as the necessities of the office may require, nor shall the salary or compensation of clerks and others be increased beyond the salaries or compensation paid during the fiscal year eighteen hundred and ninety-one; and the Salary of deputy. salary of the deputy recorder of deeds shall be two thousand five hundred dollars per annum, to be paid out of the fees and emoluments of said office of recorder of deeds. List of transfers to be furnished to SEC. 554. LIST OF TRANSFERS TO BE FURNISHED TO COLLECTOR OF TAXES. The recorder of deeds shall furnish to the collector of taxes, collector of taxes. on or about the first Monday in January and July of each year, correct lists of the transfers of real property in the District during the preceding half year, so far as can be ascertained by the records in his office, but shall not be entitled to any compensation for such service. SEC. 555. INSTRUMENTS NOT EXECUTED OR ACKNOWLEDGED ACCORD Instruments not executed or ac ING TO LAW NOT TO BE RECORDED.-The recorder shall not accept for knowledged acrecord or record any instrument which shall not be executed and cording to law not acknowledged agreeably to law by the person or party therein granting to be recorded. or contracting with respect to his right, title, or interest in the land therein described; and the record of any such instrument, if the same should be recorded, and the knowledge by any person of the fact of such record shall not be either constructive or actual notice of the existence of such instrument. Public records SEC. 556. PUBLIC RECORDS TO BE OPEN FOR INSPECTION.-All public records which have reference to or in any way relate to real or per- to be open for insonal property in the District of Columbia, whether the same be in the spection. office of the recorder of deeds or in some other public office in the District of Columbia, shall be open to the public for inspection free of charge. SUBCHAPTER FIVE. FORMS OF CONVEYANCING. Forms of conveyancing. Fee simple deed. FEE SIMPLE DEED. This deed, made this - day of... ---3 by me, ----9 ----9 in the ----9 year .. of ..., witnesseth, that in consideration of (here insert consideration), I, the said ..., do grant unto (here insert grantee's name), of all that (here describe the property). Witness my hand and seal. [Seal.] DEED BY HUSBAND AND WIFE. This deed, made this and, his wife, of by us, day of we, the said and his wife, do grant unto forth. Witness our hands and seals. Deed by husband and wife. |