Please enable JavaScript.
Coggle requires JavaScript to display documents.
RENTES (REDEMPTION (EXAMPLE: (R of 10 1/4 p.a. on land but no mention of…
RENTES
REDEMPTION
Standard CofS, warranty from V that land free of R
If V can't satisfy P free from R - pays P £ eqv to R redemption figure + up to 6yrs annual repayments
-
Before convey of pty subject to R hypotheque, R must be redeemed or R will continue on the pty
Calculation: Loi relating to redemption of Rentes 1947: Post 1948 redeemable at (1) rate in the contract or (2) if no contract rate 24 times the annual figure + amount payable in that year
If no figure is provided for currency eqv 80p per 1/4 used but if LT stated use that rate (as above)
-
DISCHARGE
-
as an interest in land, discharged by conveyance of the rent to the owner of the land i.e. an amortisement (paying/writing off)
due to cost of formal conveyance - practice for rentier to issue receipt with promise to make formal convey. if required
-
Conveyance
(2) Recitals - land charged and debtors title, R due, V title
(3) Consideration - state after purchase priced that convey. made to the 'intent that the said R is hereby redeemed'
-
-
-
-
TYPES
FONCIERE
made btw V & P of land of realty with all or part of price converted into a charge of 'x' rente p.a.
HYPOTHEQUE
Charged ('assise') on B specified real pty (as relates to realty B must appear in Cct to ack the deed creating the rente)
-
-
L does not own legal interest in pty - remedies - sue and obtain jdg agst B's personalty or jdg agst B's realty via Saisie
CONVERSION
measured by QUARTERS
-
-
-
Below quints used barley, bread, eggs etc
As G developed £ economy R expressed in £ - 1/4 converted to Livre Tournois (before the Gsy £ : 14 LT = Gsy £1 = £95.21 GBP)