1000000030

Ilother; and the preference betwcen the t\\'o dócs not

depend on the dates of the diCpofitions, but on the prio.

ritv of the [eifins following upon them.

Tit. 'S,

O[ redwllablc Rig}¡¡¡.

heritable right is Cai.! to be

rede~m"ble,

when it

contains a right

verfion, or return, in favour of the

perfon from whom the right flows. Revcrfions are either

legal, which ariCe from thelawitCdf, asin adjudications,

whieh I.w declares to be redeemablewithin. cenainterm

Rfter their date; or conventiooal, which are conítituted

by the agreement of panies, as in wadre!S, rights of ano

nualrent, and rights in Cectirity. A wadeet (fromwad

or pledge) is

right, by which I.ods, or other Imitable

Cubjeéts, are impignorated by the prQprietor to his credi·

tor, in Cecurity of his debt; and, like other heritable

righu, is perfeéted by Ceifin. The debtor, who grana

(he wadeet, and has the right of reverfion, is caBed the

reverCer; and thecreditor, receirer of the wadfet, is callo

ed the wadfelter.

Wadfets, bythe prefent'praétice, are comOlonly made

out iotbe form of mutoa! contraéts, in which one pany

feBs the

I.nd

, and the other graots the right of reverfion.

When the right of reverfion is thus incorporated in the

body of the wadCet, it is elfcétua! without regifiration.; be·

cauCe the fingutar Cuccetror in the wadCet is, io that cafe,

fufficiently 'ceuified of the reverfion, though it be not re·

gifired, by lookiog into his own right, which bears it

gr(mio.

But where the Jight of reverfioo is granted in

a Ceparate wliting, it is ineffeélaal againfi thefingular fuc·

cetrorof the wadCetter, unlef! it be regifired inthe regifier

of feifins within

days after the date of the feifin up–

on the wadee!.

. 3.

Rights of reverraon are generally efieemed

jlrifli

j urÍl;

yet they go to heirs; though heirs fllould not be

mentiooeJ, uolefs there ,be fome clauCe in the right,

diCcovering th'e intention of

p3ni~,

that the reverfioo

/hollld be perConal to the reverCor hirnCelf. Jo like

m~n·

oer, though the right /hould not

e~preCs

a power lO re·

deemfrom the wadfener's heir, as weBas fromhimfelf,

redemption will be eompetent againfi the heir.

AII

our

hwyers have aflirmed, that

reve~fions

cannot beafligned,

unlefs theyare taken to aflignees ; but from .hefavour of

ligal diligenee. they m.y be adjudged.

, 4.

Reverraons co,mmonly leave the reverfer at Ijberty

to redeem the taods

quandocunq(,

without Ireffriélion in

point of time; but a c1aufe is adjeéted tofome rever6Gns,

tha! ir Ihe debt be -not paid againfi a determinate' day,

the right of reverfioo /hall be irritated, and the laods

/hall become the imdeemable properly of the w.drener.

NevenheleCs, the.irrilancy beingpenal, as in'wadfets, the

fum lent f,lIl alwaya Ihort of the ..Iue of the bnds. and

the right of redemption is by indulgence eontinued to the

IeverCer, even after the term has expired, while the ir·

ritaney is not declared. But the reverfer., if he do'.s not

take the benefit of this indulgence, within fOrly yeals af·

ter the lapfe of the term, is cut OUt of it by preferip.

tion.

.5.

If the remfer would redcemhis I. nos. he mufi ufe

a.D

orde. of red:mptioo

ag~in{t

the wadlcuer: the

firll

ftcp of which is premonition

(01

notiee given under form

of infirument) to thewadCetter, to appear at the time and

place appointed by the 'reverfion, theR and there to

rt.

eeive rayment of his dcbt, and thereupon to renounce

hi! righ t of wadfe!. In the voluntary redemption of

right of wadCet holden baCe, a renuociation duly regi–

fired re·enabli/hes the reverfer in the full (ight of the

I.nds. Where the wadCet w.s grarited to be holoen of

the granter's fuperior, the Cuperior Olufi reeeivé the re–

verCer, on payment of a year's reot, if he produce adif–

pofition from the wadfener, containing procuratory

of.

refignation,

If,

at executing Ihe wadCet, the fuperior

has granted knm of regreCs,

t .

ao obligation again

to enter the reverfer upon redemptioo of the lands, he

,viII be obliged to receive him, withou! payment of the

year's rento But leners of regreCswill not have this effeél:

againfi fi ngular fuccetrors io the fupcrioríty, if

the~

are

not regiltred in the regifier of reverfions.

AII

wadCm

that remaío perfonal riglm, are extinguinled by fim¡ile

difcharges, though they Ihould not be morded.

If the wadCener either does not appear at the tinie

and place appointed, or refufes the redemption.money,

the reverfer mufi confign it under form of infirument, in,

the hands of the perfon IAmto appointed ín the ríght of

reverfioo; or, if no perfon be named, in the hands of

t/le c1erk to the bilis,

c1erk of feflion,

any reCponfal

perfon. An infirument of confignation, with the config–

natory's receipt of the moneyconligned, compleats the

oro

der of redemption: fiops the fanher currency of interefl

againfi Ihe reverfer, and founds him in an aélioo for de–

daringthe orderto be format, and the lands to be r.edeein.–

ed in coofequence of it.

After decree of declarator is obtained,

whic¡'

the lands are declared to teturn to the debtor, the con–

figned money, whicb Comes in place of the Iands, be–

comes thewadfetter'a, Ivho therefore can charge tbe coa–

'fignatory upon leners of horning to deliver it up to him;

but, becaufe the reverfer may,

any time before ae·

cree, paCs from his order, as one may do fro.many other

fiep of dlligence, the configned Cums continue to btlong

to the reverfer, and Ihe wadfetter's inter.efi in the wad.

fet continues

herita~le

till that

pe~iod.,

8. 'If the wadCener chufes to hav.f hi9money rather

than Ihe hnds, he mufi reql1irefrom the reverCer, under

formof infirument, the fums due by the wadCet, inlerms

of (he right. The wadfet Cumsconlioue heritable, noto

wilhfianding

re~uifition,

which may be patred flom

the wadCetter even afler the rcverfer has coofigned (he

redemption money in coofequence ¡hereor.

Wadfets are either propcr or impropero

ti.

pioper

wadCet is that whereby it il 'greeu, Ihat the ufe of the

bnd (hall go for the ufe of the money; fo that the wad·

Cener takes his hazard of the rents, and enjoys Ihem

witl/out accounling, in fatisfaétion, or

i/J

fllu tulII

of his

intmí!.

)O.

In 3n improper wadfft, the

reverf~r,

the renr

fliould fall nlon of Ihe intmO, is tahnbound to make

up the

d<fi~itncy;

if it amounts lOmore, the wadfmer

is obliged 'to impute Ihe excrcCcenee towards extinétion

of Ihe capital: And, as COOIl as the whole fums, princi ..

Eat and intml!,

are

extingl1ilhed by l:,e wadfcner's pof,

fcffiua"