The legal estate conveyed to a mortgagee, his heirs and assigns, or to a trustee to secure a debt, his heirs and assigns, shall be construed and held to be a qualified fee simple, determinable upon the release of the mortgage or deed of trust, as hereinafter provided, or the appointment of a new trustee by agreement of the parties pursuant to § 42-814(b) or by judicial decree for the causes hereinafter mentioned; provided, that nothing in this section contained shall prevent the passing of an absolute and unqualified estate in fee simple under a deed made by the mortgagee, trustee, or new trustee in pursuance of the powers conferred by the mortgage or deed of trust.
CREDIT(S)
(Mar. 3, 1901, 31 Stat. 1271, ch. 854, § 522; June 30, 1902, 32 Stat. 532, ch.1329; Nov. 2, 1966, 80 Stat. 1100, Pub. L. 89-706, § 1(a); Apr. 3, 2001, D.C. Law 13-263, § 1601, 48 DCR 991; May 7, 2002, D.C. Law 14-132, § 602(b), 49 DCR 1552.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 45-703.
1973 Ed., § 45-603.
Effect of Amendments
D.C. Law 14-132 revived this section as of November 6, 2001. This section had been previously repealed by D.C. Law 13-263, § 1601.
Temporary Amendments of Section
For temporary (225 day) amendment of section, see § 2 of Protections from Predatory Lending and Mortgage Foreclosure Improvements Temporary Amendment Act of 2001 (D.C. Law 14-86, March 19, 2002, law notification 49 DCR 2991).
Emergency Act Amendments
Section 2 of Act 14-188, the “Protections from Predatory Lending and Mortgage Foreclosure Improvements Emergency Amendment Act”, deemed approved Nov. 27, 2001, without the signature of the Mayor, provided that D.C. Law 13-263 shall not apply beginning November 6, 2001, through March 6, 2002.
For temporary (90 day) revival of section, see § 403(b) of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
Legislative History of Laws
For Law 13-263, see notes following § 42-831.01.
For Law 14-132, see notes following § 42-801.