in conformity with it; but in a very recent case,' he expressed considerable surprise at his former decision, and made a decree in direct opposition to it. Though, till further adjudication on the subject, the latter case must be considered as law, persons accepting the deposit of a lease as a security for a debt, will do well to see that the rent is regularly paid, lest it should turn out that all the security in the case was their becoming sureties to the landlord for his rent.

ruptcy.

Upon the bankruptcy of a lessee, the lease is not Effect of divested out of him, unless the assignees elect to take lessee's bankit, and consequently his right to vote as a lessee under the 2d Will. IV., c. 45, would not be affected by the bankruptcy till the assignees have made their election; and the lessee, (if the assignees do not elect to take it,) continue liable to the rent accruing subsequent to the act of bankruptcy.

It need scarcely be observed, that where a pre- Stamps. mium is paid for the granting a lease, it becomes liable, (certain particular cases excepted,) not only to the stamp, according to the amount of the rent, but also to an ad valorem duty on the premium, on the same scale as on the consideration for a purchase, in which light it is considered.

There has been no direct decision upon the point, but it has always been considered, and I cannot believe that a decision will ever be made contrary to that opinion, that no additional stamp is chargeable in respect of the increased rent received for ploughing up pasture, &c."

Rents are in all cases apportionable where the Apportionright to receive them changes at any other time than ment of rents. one of the reserved days of payment, either by the death of a tenant for life, or the determination of the interest of any person during his own life; but the apportionment is affected differently in different cir

Moors v. Choat, 8 Sim. 508.

t Copeland v. Stevens, 1 Barn. and A. 593.

u

See Bythewood's Conveyancing by Jarman, tit. Leases.

cumstances. Thus, under the 15th section of 11th Geo. II., cap. 19, (explained by 4th Will. IV., cap. 22, sec. 1,) where the lease was determined by the death of the lessee, whether as being tenant for life, or having as tenant in tail, or donee of a power," created a lease, which, though in itself invalid from want of compliance with the requisitions which were necessary to give it validity, was good for the life of the granter, the representatives of such lessor might recover a proportionate part of the accruing rent; and under the same sections, where the lease determined in the lifetime of the lessee, by the death of any life or lives for which he was holding, a proportional rent is recoverable by such lessor. But under the 2d section of 4th Will. IV., cap. 22, the apportionment is affected in a different way, for in order to free the tenant from any questions between the lessors, he is permitted to pay the whole rent to the heir, from whom the party entitled to the proportionate part may recover it. That act was passed on the 16th June 1834, and is, therefore, applicable only to rents reserved by leases granted after that period. It gives apportionment of rent to all persons whose interests are determined by their death, or any other event during the continuance of the leases, such lease having been granted by a tenant for life or in fee, or under any power, but it subjects such apportioned part to an equitable proportion of the changes affecting it.

Under these two acts it will be found, that in all circumstances where an express stipulation to the contrary has not been made, rent is put upon the same footing as interest, and that persons will be entitled to it during the whole time of the continuance of their estate as if it had accrued de die in diem.

▾ Whitfield v. Pindar, 2 B. C. C. 662; 8 Ves. 311; Amb. 198; 1 Swanst. 356; 3 Taunt. 331.

w Clarkson v. E. of Scarborough, 1 Swanst. 354; Ez parte, Smith, ibid. 337; Symons v. Symons, 6 Mad. 207.

CHAPTER XXV.

MORTGAGES.

MORTGAGE IN FEE.

THIS indenture, made, &c., between [the mortgagor] of the one part, and [the mortgagee] of the other part. [Recite the instrument showing the mortgagor's title, and the contract for the loan.] Now, this indenture witnesseth, that, in pursuance of the said recited agreement, and in consideration of the sum of L. of lawful money of Great Britain to the said

at or immediately before the execution of these presents by the said in hand well and truly paid, the receipt of which said sum the said doth hereby acknowledge, and of and from the same, and every part thereof, doth acquit, release, and discharge the said his heirs, executors, administrators, and assigns, for ever, by these presents, he, the said , hath granted, bargained, sold, released, and confirmed, and by these presents doth, &c., unto the said (in his actual possession, &c.,) and his heirs, all, &c., and the reversion, &c., and all the estate, &c.: To have and to hold the said and all and singular other the premises hereby granted and released, or intended so to be, with their appurtenances, unto the said

his

heirs and assigns, to the only proper use and behoof of the said his heirs and assigns, for ever; subject, nevertheless, to the proviso or agreement for redemption and reconveyance hereinafter contained; (that is to say,) [Add proviso for redemption, p.

T

72; covenants for payment of the money; for insurance, (if desired ;) and for title, p. 97; and proviso for quiet enjoyment till default, see p. 72. A power of sale, if desired, should be inserted after the covenant for payment, p. 55.] In witness, &c.

MORTGAGE OF COPYHOLDS.

This indenture, made, &c. [Recite the mortgagor's title, and agreement for loan.] Now, this indenture witnesseth, that, in consideration, &c., he, the said [mortgagor,] doth hereby, for himself, his heirs, executors, and administrators, covenant, promise, and agree, with and to the said [mortgagee,] his heirs, executors, administrators, and assigns, that he, the said [mortgagor,] and his heirs, and all and every other proper and necessary parties, shall and will, at the costs and charges of the said [mortgagor,] his heirs, executors, or administrators, at the next general or other court that shall or may be holden for the said manor of well and effec

tually surrender, or cause and procure to be well and effectually surrendered, either in person or by attorney, into the hands of the lord or lords, lady or ladies, for the time being of the said manor, or otherwise convey and assure, according to the custom thereof, [All, &c., as in the case of an absolute conveyance of copyholds; see p. 386.] To the use, intent, and purpose that the said [mortgagee,] his heirs or assigns, shall and may be duly admitted tenant of the same messuages, lands, and premises, hereby covenanted to be surrendered, or intended so to be, with their appurtenances: To hold the same to him, the said [mortgagee,] his heirs and assigns, for ever, at the will of the lord, according to the custom of the said manor, subject only to the rents, suits, and services therefore due and of right accustomed, and subject also to the proviso or agreement for re

If these words are not inserted, the mortgagee may ob ject to a surrender by attorney, ante, p. 205.

demption next hereinafter contained, (or) [subject to a proviso or condition to be contained in the said surrender for making void the same on payment by the said [mortgagor,] his heirs, executors, administrators, or assigns, of the said sum of L.

with interest for the same after the rate of L. for every L.100 per annum, at the time therein mentioned for payment thereof:] And it is hereby agreed and declared between and by the parties hereto, that he, the said [mortgagor,] his heirs and assigns, shall and will stand and be seised or possessed of the same messuages, lands, and premises in the meantime, and until the same shall be well and effectually surrendered, and the said [mortgagee,] his heirs or assigns, admitted thereto, in trust for the said [mortgagee,] his heirs, executors, administrators, or assigns, for securing to him and them the repayment of the said sum of L. and interest, according to the true intent and meaning of these presents. [Add proviso for redemption, power of sale, covenants for payment and for title, and proviso for enjoyment till default, pp. 72, 97, 55.] In witness, &c.

A CONCISE MORTGAGE WITH TRUSTS FOR SALE.

This indenture, made, &c., between A.B., [the mortgagor,] of the one part, and C.D., [the mortgagee,] of the other part. [Insert such recitals as are necessary to show the mortgagor's title, and recite the contract for loan, then convey the property to the mortgagee, as in other conveyances. Habendum,] upon trust, nevertheless, that if the said A. B., his heirs, executors, administrators, or assigns, shall pay, or cause to be paid, unto the said C. D., his executors, administrators, or assigns, the sum of L. of lawful British money, with interest for the same after the rate, &c., on, &c., without any deduction or abatement whatsoever, then, and in such case, he, the said C. D., his or assigns, shall and will, at the

'This form is applicable to copyholds of inheritance, but may be easily adapted to all other copyholds.