Pennsylvania Act 1881-91 — DEFEASANCES, DEFINED IN PENNSYLVANIA

Act text

DEFEASANCES, DEFINED IN PENNSYLVANIA
                   Act of Jun. 8, 1881, P.L. 84, No. 91               Cl. 68
                                  AN ACT

     Relating to and defining defeasances in this commonwealth.

        Section 1.  Defeasances; requisites
        No defeasance to any deed for real estate, regular and
     absolute upon its face, made after the passage of this act,
     shall have the effect of reducing it to a mortgage, unless the
     said defeasance is in writing, signed and delivered by the
     grantee in the deed to the grantor; and, in so far as it may
     effect any subsequent grantee or mortgagee of such real estate,
     for value, unless it is also acknowledged and recorded in the
     office for the recording of deeds and mortgages in the county
     wherein the said real estate is situated, before the execution
     and delivery of such subsequent grant or mortgage; and such
     defeasances shall be recorded and indexed as mortgages by the
     recorder.  1881, June 8, P.L. 84, Sec. 1; 1909, April 23, P.L.
     137, Sec. 1.