Clandestine Mortgages

Clandestine mortgages. By 4 & 5 Wm. & Mary, c. 16, it was enacted that if any person, having once mortgaged his lands for a valuable consideration, shall again mortgage the same lands, or any part thereof, to any person, the former mortgage being in force, and shall not discover in writing to the second mortgagee the first mortgage, such mortgagor so again mortgaging his lands shall have no relief or equity of redemption against the second mortgagee. This Act was repealed by the (English) Law of Property Act, 1925. By s. 183 of the Act of 1925, any person disposing of property or any interest therein for money or money's worth as a purchaser, or his agent, who conceals any instrument or incumbrance material to the title with intent to defraud, is made guilty of mis-demeanour punishable by fine and imprisonment and also to an action for damages if sustained. See DECEIT; FRAUD.