Sec. 47-36h. Force and effect of "Mortgage Deed" form.
Sec. 47-36h. Force and effect of "Mortgage Deed" form. A deed following the
form entitled "Mortgage Deed", when duly executed, has the force and effect of a deed
to the mortgagee in fee simple, subject to defeasance, with mortgage covenants, to secure
the payment of money as well as the performance of any obligation or obligations therein
specified or referred to; provided any other lawful covenants, agreement or condition
may be inserted in the mortgage deed and any of the terms and provisions of said statutory
mortgage covenants and conditions may be added to by any lawful agreement, covenant
and condition specified in the mortgage deed.
(P.A. 75-309, S. 11; P.A. 79-602, S. 16.)
History: P.A. 79-602 substituted "has" for "shall have" and "the" for "such" where appearing.
Cited. 189 C. 212. Cited. 224 C. 563.
Cited. 20 CA 163.