Encyclopaedia Britannica; or, A dictionary of arts and sciences, compiled upon a new plan … > Volume 2, C-L

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mother; and the preference between the two does not
depend on the dates of the difpofitions, but on the prio¬
rity of the feifins following upon them.
Tit. 15. Of redeemable Kights.
An heritable right is faid to be redeemable, when it
contains a right ot reverfion, or return, in favour of the
perfon from whom the right flows. Reverfions are either
legal, which arife from thelawitfelf, as in adjudications,
which law declares to be redeemable within a certain term
after their date; or conventional, which are conftituted
by the agreement of parties, as in wadfets, rights of an-
nualrent, and rights in fecurity. A wadfet (from wad
or pledge) is a right, by which lands, or other heritable
fubjefts, are impignorated by the proprietor to his credi¬
tor, in lecurity of his debt; and, like other heritable
rights, is perfe<5ted by feifin. The debtor, who grants
the wadfet, and has the right of reverfion, is called the
reverfer; and the creditor, receiver of the wadfet, is call¬
ed the wadfetter.
Wadfets, bytheprefent praflice, are commonly made
out in the form of mutual contradls, in which one party
fells the land, and the other grants the right of reverlion.
When the right of reverfion is thus incorporated in the
body of the wadfet, it is efiettual without regiftration ; be-
caufe the fingular fucceflbr in the wadfet is, in that cafe,
fuffidently certified of the reverfion, though it be not re-
giltred, by looking into his own right, which bears it in
gremio. But where the right of reverfion is granted in
a feparate writing, it is ineflfedlual againft the fingular fuc¬
ceflbr of the wadfetter, unlefs it beregiftred in the regifter
of feifins within 60 days after the date -of the feifm up¬
on the wadfet.
3. Rights of reverfion are generally efteemed Jlritti
juris; yet they goto heirs, though heirs fliould not be
mentioned, unlefs there be fome claufe in the right,
difcovering the intention of parties, that the reverfion
fliould be perfonal to the reverfer himfelf. In like man¬
ner, though the right fliould not exprefs a power to re¬
deem from the wadfetter’s heir, as well as from himfelf,
redemption will be competent again 11 the heir. All our
lawyers have affirmed, that reverfions cannot beafligned,
nnlefs they are taken to aflignees ; but from-the favour of
legal diligence, they may be adjudged.
4. Reverfiohs commonly leave the reverfer at liberty
to redeem the lands quandocunqe, without reftiifrion in
point of time ; but a claufe is adjeded to fome reverfians,
that if the debt be not paid againfl: a determinate day,
the right of reverfion ffiall be irritated, and the lands
ftiall become the irredeemable property of the wadfetter.
Neverthelefs, the irritancy beingpenal, as in wadfets, the
fiim lent falls always fliort of the value of the lands, and
the right of redemption is by indulgence continued to>the
reverfer, even after the term has expired, while the ir¬
ritancy is not declared. But the reverfer, if he does not
take the benefit of this indulgence, within forty years af¬
ter the lapfe of the term, is cut out of it by preferip-
iion.
5. If the reverfer would redeem his lands, he mud ufe
an order-of redemption againft the wad fetter : the lirll-
ftep of which is premonition (or notice given under form
of inftrument) to die wadfetter, to appear at the time and
place appointed by the reverfion, then and there to re¬
ceive payment of his debt, and thereupon to renounce
his right of wadfet. In the voluntary redemption of a
right of wadfet holden bafe, a renunciation duly regi-
ftred re-eftablilhes the reverfer in the full right of the
lands. Where the wadfet was granted to be holden of
the granter’s fuperior, the fuperior mull receive the re¬
verfer, on payment of a.year’s rent, if he produce a dif-
pofition from the wadfetter, containing procuratory of
refignation. If, at executing the wadfet, the fuperior-
has granted letters of regrefs, i. e. an obligation again
to enter the reverfer upon redemption of the lands, he
will be obliged to receive him, without payment of the
year’s rent. But letters of regrefs will not have this effedl
againfl: fingular fucceflbrs in the fuperiority, if they are
not regiftred in the regifter of reverfions. All wadfet*
that remain perfonal righis, are extinguifhed by Ample
difeharges, though they (hould not be recorded.
6. If the wadfetter either does not appear at the time
and place appointed, or refufes the redemption-moneyr
the reverfer muft confign it under form of inftrument, in
the hands of the perfon thereto appointed in the right of
reverfion . or, if no perfon be named, in the hands of
the clerk to the bills, a clerk of feflion, or any refponfal-
perfon. An inftrument of confignation, with the config-
natory’s receipt of the money configned, compleats the or¬
der of redemption, flops the farther currency of intereft
againft the reverfer, and founds him in an adion for de¬
claring the order to be formal, and the lands to be redeem¬
ed in confequence of it.
7. After decree of declarator is obtained, by which?
the lands are declared to return to the debtor, the con¬
figned money, which comes in place of the lands, be¬
comes the wadfetter’s, who therefore can charge the con-
fignatory upon letters of horning to deliver it up to him;:
but, becaufe the reverfer may, at any time before de¬
cree, pafs from his order, as one may do from any other
ft'ep of diligence, the configned fums continue to belong
to the reverfer, and the wadfetter’s intereft in the wad¬
fet continues heritable till that period.
8. If the wadfetter chufes to have his money rather
than the lands, he muft require from the reverfer, under
form of inftrument, the fums due by the wadfet, in terms
of the right. The wadfet fums continue heritable, not-
wichftanding requifition, which may, be palled from by
the wadfetter even after the reverfer has configned the.
redemption money in confequence thereof.
9. Wadfets are either proper or improper. A proper
wadfet is that whereby it is agreed, , that the ufe of the
land (hall go for the ufe of the money.; fo that the wad¬
fetter takes his hazard of the rents, and enjoys them
without acsounting, in fatisfadtion, or/«_/«/«/«/».of his
intereft'.
to. In an improper wadftt; the reverfer, if the rent
Ihould fall Ihort of the intereft, is taken bound to make
up the deficiency ; if it amounts to more, the wadfetter
is obliged to impute the excrefcence towards extinction
of the capital: And, as foon as the whole fums, princi¬
pal and intereft, are extinguilhed by the wadfetter’s pofr