Pennsylvania Act 1864-420 — GROUND RENTS - RELATING TO

Act text

GROUND RENTS - RELATING TO
                 Act of Apr. 19, 1864, P.L. 487, No. 420              Cl. 68
                                  AN ACT

     Relating to Ground Rents.

        Section 1.  Trustees, etc; to accept redemption money
        The enactment, by the twenty-first section of the act of
     April 22, 1850, enacting that no redeemable ground rent shall
     become a perpetual encumbrance by failure to pay the redemption
     money within the period fixed for its redemption, shall be taken
     and construed to enable any trustee or trustees, and others
     having power to release and extinguish such ground rent,
     theretofore reserved, but then redeemable, or since reserved or
     hereafter to be reserved with the privilege of redemption within
     a specified time, to accept the redemption moneys, and to
     execute a release and extinguishment of such ground rent, as if
     such period allowed for such redemption had not expired, with
     the same effect as if done within such period; and all releases
     and extinguishments of ground rents, heretofore made by such
     parties under such circumstances since the date of said
     enactment, shall be taken to have the same validity and effect
     as if made by them within the period specified for redemption.
     (1864, April 19, P.L. 487, Sec. 1.)