A woman's right to hold, manage and acquire property is not affected by marriage, except that unless she lives apart from her husband, she may not mortgage or convey real estate without his consent.
During the decade 1881-1890 great sums of European capital were invested in railways and other undertakings, encouraged by the grant of interest guarantees and by state mortgage bank loans in the form of cedulas, nominally secured on landed property.
During this period the bank-note circulation was increased to $161,700,000, and two mortgage banks - the National Hypothecary Bank and the Provincial Mortgage Bank (of Buenos Aires) - flooded the country with $509,000,000 of cedulas (hypothecary bonds).
If the owner is a married man, he cannot sell or mortgage it, except for the purchase money, unless his wife joins him in the execution.
The diminution was due to the law of the 10th of April 1893 upon the banks of issue, by which they were obliged to liquidate the loan and mortgage business they had previously carried on.
Loans on mortgage may also be granted to landowners and agricultural unions, with a view to the introduction of agricultural improvements.
In their anxiety to remain in office Depretis and the finance minister, Magliani, never hesitated to mortgage the financial future of their country.
The homestead exemption extends to a dwelling-house, with its land and appurtenances, with a value not exceeding $5000; but no exemption is granted against a process to enforce the payment of purchase-money, or for improvements, or for legal taxes, or of a mortgage to which both the husband and wife have consented.
It may be noted that it is still common to insert in mortgage deeds what is called an " attornment clause," by which the mortgagor "attorns" tenant to the mortgagee, and the latter thereupon acquires a power of distress as an additional security.
In 1910 the coffee industry had not yet recovered from the effect of the cyclone of 1899 and the unfortunate mortgage system that prevailed under the Spanish regime.
They were originally of the nature of mortgage bonds on the national lands.
At this value they were converted into 800,000,000 francs of land-warrants, or mandats territoriaux, which were to constitute a mortgage on all the lands of the republic. These mandats were no more successful than the assignats, and even on the day of their issue were at a discount of 82%.
A transfer duty of 5% on the estimated value of emiriye is paid on transmission by sale, inheritance or donation, of 22% on the amount of the debt in case of mortgage or release from mortgage, and of 10% on expenses.
But this resulted in so heavy a: burden upon the public that the law had again to be altered to extend hereditary rights, and to admit a system of mortgage which was assimilated to that for emiriye; but the evils were little more than palliated.
A homestead which is owned and occupied by a debtor as his dwelling place is exempt from seizure or sale for debts other than taxes, those secured by a mortgage on it, or those incurred for its improvement or repair, or for services performed by labourers or servants.
The value of the assets of the spiritual work in the United Kingdom increased from £558,992 in 1891 to £1,357,706 in 1909, the liabilities on account of loans upon mortgage and otherwise amounting at the latter date to £662,235.
If the householder has a wife he can mortgage or convey his estate of homestead only with her consent, and if he dies leaving a widow or minor children the homestead exemption survives until the youngest child is twenty-one years of age, or until the death or marriage of the widow, provided the widow or a child continues to occupy it.
In 1894 was passed the Advances to Settlers Act, under which state money-lending to farmers on mortgage of freehold or leasehold land was at once begun.
In 1895 began a marked commercial revival, mainly due to the steady conversion of the colony's waste lands into pasture; the development of frozen meat and dairy exports; the continuous increase of the output of coal; the invention of gold-dredging; the revival and improvement of hemp manufacture; the exploiting of the deposits of kauri gum; the reduction in the rates of interest on mortgage money; a general rise in wages, obtained without strikes, and partially secured by law, which has increased the spending power of the working classes.
Either husband or wife may hold, manage and dispose of his or her separate property independent of the other, but property which they hold in common is under the management and control of the husband except that he cannot devise by will more than one-half of the community real or personal property, or convey, mortgage or encumber any of the community real estate unless his wife joins him.
Recognized causes for divorce are adultery, extreme cruelty, wilful desertion, wilful neglect, habitual intemperance or conviction for felony, The homestead of a head of a family consisting either of a farm not exceeding 160 acres or $2500 in value, or of a house and lot - the lot not exceeding 4 acre, and the house and lot not exceeding $2500 in value - is secured against debtors except in case of judgments obtained before the homestead was recorded as such, in case of labourers', mechanics' or vendors' liens, and in case of a debt secured by mortgage; if the owner is a married person the homestead cannot be mortgaged without the consent of both husband and wife.
The exemption is not valid against a debt created for the purchase money, or against taxes levied on the property, or against mechanics' or labourers' liens for work done or material furnished for improvements, or against a mortgage acknowledged by both husband and wife.
They include a great number of revenue regulations, laws on civil matters such as mortgage, bankruptcy, rights of way, companies, &c;, and laws governing the procedure of courts, all of which adhere to Western principles in the main.
Mortgage and loan banks have also been established in accordance with the law of 1896, and are subject to official supervision.
The homestead law of New Hampshire exempts from seizure for debt five hundred dollars' worth of any person's homestead except for the enforcement of a mortgage upon it, for the collection of debts incurred in making repairs or improvements, or for the collection of taxes.
The law also provides that except where a mortgage is given to secure payment of the purchase money, the homestead right of a married person shall not be encumbered without the consent of both husband and wife.
He founded at Dresden the first Mortgage Insurance Society (Hypotheken-Versicherungsgesellschaft), and as a result of the success of his work was summoned in 1860 to Berlin as director of the statistical department, in succession to Karl Friedrich Wilhelm Dieterici (1790-1859).
In 1707 the islands were granted to the earl of Morton in mortgage, redeemable by the Crown on payment of 30,000, and subject to an annual feu-duty of 50o; but in 1766 his estates were sold to Sir Lawrence Dundas, ancestor of the earls of Zetland.
A woman's right to hold, manage and acquire property in her own right is not affected by marriage, but for a married woman to mortgage or convey her real estate the joint action of herself and her husband is necessary.
The annual government demand, like the succession duty in England, is universally the first liability on the land; when that is satisfied, the registered landholder has powers of sale or mortgage scarcely more restricted than those of a tenant in fee-simple.
A married man may not sell or mortgage a homestead without his wife's consent.
A homestead, entered upon record and limited to a value of $5000 if held by the head of a family and to a value of $loon if held by one not the head of a family, is exempt from liability for debts,except for a mortgage; a lien before it was claimed as a homestead is a lien afterward for improvements.
The exemption may be claimed by either the husband or the wife, but may not be granted if each owns a home stead; and it does not extend to judgments rendered against the debtor on account of a mortgage, non-payment of the purchase money or supplies and labour for building and repairs.
Besides these, there are four non-issue banks, two foreign banks and their agencies, and three mortgage banks, with agencies at the important provincial centres, which loan money on real-estate security and issue interest bearing hypothecary notes to bearer.
The title to land is registered, in all cases; and so, with a few exceptions, is every servitude or easement, mortgage or charge, upon land.
In the same year the general distress was intensified by the failure of the Rural and Mortgage Bank of Brazil.
Included are various charges on foreign bonds to bearer, to compensate for the advantage they have in escaping the transfer duty on deeds, through their passing on sale or mortgage from hand to hand.
Once free of mortgage, the consecration took place on 28th June, 1910.
The exemption is not valid against a mortgage, but the mortgage must be executed by both husband and wife, if the householder is married.
The remainder, amounting to no less than two-thirds of the purchase-money, was raised on mortgage, and was never paid off during Burke's life.
The Mortgage Bank (Uprava Fondova), founded in 1862, is a state institution which lends money for agricultural operations, &c. The Export Bank, founded in 1901, is a private bank under state supervision, with branches in Budapest, Vienna, Berlin, &c. Its chief object is the furtherance of Servian foreign commerce.
- The property rights of husband and wife are practically equal, and either may buy, sell or mortgage real estate, other than the homestead, without the consent of the other.