PURCHASES. LEASEHOLDS. No. LXXXIII. An Assignment of Leasehold Premises by Assignees of a Bankrupt and Mortgagee to a Purchaser. year of the reign Assignees of Bankrupt and Mortgagee. (a mort- Parties. &c. and] in the year of our Lord (who has agreed for the purchase of the said * Where brevity is particularly desired, the words within Brevity. brackets may be omitted throughout the precedent. (1) Bankrupt not compellable to be a party, see ante, Vol. II. p. 291, note. not purchase of assignees. (2) In a sale by assignees, it may be observed, that a mort- Mortgagee cangagee of the premises cannot become a purchaser without leave of the court, on account of the possibility of his having conflicting interests in the sale of the premises, but this possibility is not of itself and alone a sufficient ground for the court refusing its permission, Exp. Du Cane, 1 Buck, 18. (3) Recite here the lease, as in No. LXX. p. 129. The mort- Recitals. gage, default in payment, &c. as in No. LXXV. p. 208. And the commission of bankruptcy and proceedings thereon, as ante, p. 303, PURCHASES. AND WHEREAS the said (assignees) [with the full consent and approbation of the major part of the creditors of the said (bankrupt), at a meeting of the said creditors, holden on the LEASEHOLDS. Assignees of Bankrupt and Mortgagee. day of last][or after having exposed the said premises to sale by public auction on the day of without effect (as the case may be)], have contracted with (1) the said (purchaser) for the sale to him of the said messuages or tenements, and premises for the sum of £ AND WHEREAS there is now due to the said (mortgagee) for principal and interest, upon the said hereinbefore in part recited security, the sum of £ which it has been agreed shall be paid out of the said purchase money; and the said (mortgagee) has consented to accept the same, in full satisfaction and discharge of the said mortgage, and agreed to execute such assignment of the said mortgaged premises as hereinafter is contained, [and the said (bankrupt) for the greater satisfaction of the said (purchaser) has Sale by auction. Order of court. (1) Although the assignees should, in general, in order to excite competition, dispose of the estate of a bankrupt by public auction, yet this is a matter in their own discretion, and they may sell by private contract should they think it expedient, see Exp. Denman, 2 Rose 66. If the sale were by public auction, make the recital of the contract, and of the payment of the purchase money, conformably to the preceding precedent, p. 304. If the sale were before a Master in Chancery by the direction of that court, recite the order for such sale, as ante, Vol. II. No. XLV. p. 294. LEASEHOLDS. Assignees of Bankrupt and Mortgagee. WITNESS, that in consideration of the sum due on mortgage. agreed to join in the said assignment in the manner PURCHASES. hereinafter expressed]. Now THIS INDENTURE WITNESSETH, that in pursuance of the said agreement, and for and in consideration of the sum of £ of good and lawful money of that part of the United Kingdom of Great Britain and Ireland, called England, to the said (mortgagee) in hand well and truly paid (1) by the said (purchaser) at or immediately before the sealing and delivery hereof, with and by the privity, consent, and direction of the said (assignees) and (bankrupt) respectively, testified by their severally being parties to and executing these presents, (the receipt whereof in full of all principal money and interest due to him the said (mortgagee) on the said hereinbefore in part recited mortgage), the said (mortgagee) doth hereby acknowledge, and of and from the same doth fully and absolutely acquit, release, exonerate, and discharge the said (purchaser) and also the said (assignees) and (bankrupt) respectively, and their respective executors, administrators, and assigns, and likewise the said mortgaged premises, by these presents. He the The mortgagee said (mortgagee) at the request and by the direction and appointment of the said (assignees) and (bankrupt) respectively testified as aforesaid, HATH bargained, sold, assigned, transferred, and set assigns, &c. (1) If the consideration be other than money paid down, see Consideration. Vol. I. No. XVI. p. 167, n. (8). LEASEHOLDS. PURCHASES. over, and by these presents DотH bargain, sell, assign, transfer, and set over (1) unto the said (purchaser), his executors, administrators, and asBankrupt and signs, ALL that messuage or tenement, piece or parcel of ground, &c. (2), and all and singular Assignees of Mortgagee. premises. The mortgaged other the premises comprised in, or demised by the said hereinbefore in part recited indenture of lease of the and so as day of day of signed to the said (mortgagee), by the said in part Conciseness. Parcels. (1) If it be wished that the deed should be prepared with as much conciseness as it can be with safety, the payment of the residue of the purchase money may be stated here, and the subsequent WITNESSING part and HABENDUM may be omitted; as in No. LXXVI. p. 223, n. (1). (2) If any material variation have taken place in the description of the premises, by new erections or otherwise, see ante, p. 136, n. (2). LEASEHOLDS. Assignees of Bankrupt and Mortgagee. To hold to the purchaser for the residue of the term. the part of the lessor or landlord of the said pre- PURCHASES. mises are to be performed or observed]. AND all the estate, right, title, interest, trust, term of years now to come and unexpired, property, claim, and demand whatsoever, both at law and in equity, of him the said (mortgagee) of, in, or to the same premises, and every part or parcel thereof, under or by virtue of the said in part recited indentures of lease, and assignment by way of mortgage, or either of them. TO HAVE AND TO HOLD, the messuages or tenements, pieces or parcels of ground, and all and singular other the premises hereinbefore bargained, sold, and assigned, or intended so to be, with their and every of their appurtenances; unto the said (purchaser), his executors, administrators, and assigns, from henceforth, for and during all the residue or remainder which is now to come and unexpired of the said term of years, so in or by the said in part recited indenture of the day of , assigned to or otherwise vested in him the said (mortgagee) as aforesaid. AND the said (mortgagee) for him- Covenant by self, his heirs, executors, and administrators, doth he has not hereby covenant and declare, to and with the said (purchaser), his executors, administrators, and assigns, that he the said (mortgagee) hath not at any time or times heretofore made, done, executed, or knowingly occasioned or suffered, [or caused or procured to be made, done, executed, or suffered, nor been party or privy to] any act, deed, matter, or thing whatsoever, whereby or by reason or means whereof the said indenture of lease is or VOL. III. Y mortgagee that incumbered. |