An act authorizing mortgagees to redeem real estate sold for taxes & assessments
1S[Section] 1 No sale of real estate hereafter made for the non payment of any tax or assessment,
shall destroy, or in any manner affect the lien of any mortgage thereon, duly recorded,
or registered at the time of such sale, except as hereinafter provided.
S 2 It shall be the duty of the purchaser, at such sale, forthwith, to give to the
mortgagee, a written notice of such sale, requiring him to pay the amount of the
purchase money with the interest, at the rate allowed by law thereon, within six months
after receiving such notice.
S 3 If such payment shall be made, the sale shall be of no further effect, and the
mortgagee shall have a lien on the premises, for the amount paid, with the interest,
which may thereafter accrue thereon, at the rate of ten per cent per annum, in like manner, as if the same had been included in his mortgage.
S 4 In case the mortgagee shall fail to make such payment within six months after receiving
such notice, he shall not be entitled to the benefit of the first section of this
act.
S 5 The term mortgagee as used in this act, shall be construed to include assignees
of mortgagees, whose assignments shall be duly recorded, and personal representatives,
and the term purchaser, shall be construed to include assignees and real or personal
representatives as the case may be.
S 6 The written notice required by this act, shall be served personally on the mortgagee,
provided his place of residence or location, shall appear in the record of such mortgage
or assignment, otherwise, such notice may be given in the manner required by law,
in respect to notices of non acceptance or non payment of notes or bills of exchange,
and a notarial certificate thereof shall be presumptive evidence of the fact of such
notice, such Certificate, shall, within thirty days, be recorded in the County in
which the mortgage was recorded, in the manner as is by law prescribed in respect
to deeds or other evidences of title of real estate.
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A Bill for an Act to authorize mortgagees to redeem real estate sold for taxes and
assessments
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[02]/[04]/[1841]
[02]/[04]/[1841]
Judiciary
redd to
redd to
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[02]/[27]/[1841]
[02]/[27]/[1841]
rejected
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8
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1Ebenezer Peck introduced HB 188 in the House of Representatives on February 4, 1841. The House referred the bill to the Committee on the Judiciary.
The Committee on the Judiciary reported back the bill on February 15, recommending
its rejection, and the House referred the bill to a select committee. The select
committee reported back the bill on an unknown date, and the House referred it to
the Committee on Finance, of which Abraham Lincoln was a member. The Committee on Finance reported back the bill on February 27, recommending
its rejection, and the House concurred.
Illinois House Journal. 1840. 12th G. A., 321, 400, 557.
Handwritten Document, 2 page(s), Folder 133, HB 188, GA Session 12-2,
Illinois State Archives (Springfield, IL),