Page:United States Statutes at Large Volume 18 Part 2a.djvu/24

 COLLECTION OF TAXES. ]9 Sec. 162. It any purchaser shall fail to pay the residue of the pur- When purchaser chase-money within the time required by the preceding section for any *`“““*° Pa? '°”i"“°- property so purchased by him he shall pay ten per eentum per annum 15 Mm- 1520 c_ as interest thereon and ID addition to such residue, to be computed from I04, s. 16: v. 3,, p. the expiration of two years from the day of sale until the actual pavment 589- of such residue and the receiving of a conveyance from the proper authorities. Sec. 163. The amount of such residue shall be placed in the treasury Residue, n ow of the District, where it shall remain, subject to the order of the origi- Wd Md *0 wml nal proprietor or his legal representatives. °’d°’ °“l’·i°°”· Ibid., pp. 589, 500. Sec. 164. Any interest which may accrue under the provision of the Interest. three preceding sections shall in like manner be subject to the order of "Y the original proprietor or his legal representatives. ' SEc._165. Upon payment of the residue of the purchase-money, as _Tit1¤ in fee to bc provided in the preceding sections, the purchaser shall receive a title in K"'°“ *"P"'°h’““"‘- tee-simple to the property, under the hand of the governor and seal of Ibid, the District, which·shall be deemed good and valid in law and equity. 221 Fen., 1811,1g. 6 ,s.2,v.16,p.4. Sm:. 166. If, within two years from the day of any sale for taxes, or _Right<>fr¤d¤mpbefore the purchaser shall have paid the residue of the purchasemoney, *‘°“· the original proprietor of any property which shall have been sold, as 15 May, 1820, c. provided in the preceding sections, his heirs, agents, or legal representa- 1% ¤· 10. V- 3, 1>· tives, shall repay to such purchaser the moneys paid for the taxes and  M ,82, expenses, together with ten per centum per annum as interest thereon, 195 ,_6°§_ 4 pj,,?' or make a. tender thereof, or shall deposit the same in the hands of the ’` proper officer of the District, appointed to receive the same, for the use of such purchaser and subject to his order, or the order of his heirs or legal representatives, he shall be re-instatcd in his original right and title, as if no such sale had been made. - Sec. 167. Whenever the deposit provided for by the preceding section Ifnrchascr to ps shall be made, the purchaser, his heirs or legal representatives, shall be immediately informed thereof, by notice in some newspaper printed in 10:5 3**% $82:% °· the city of Washington, or otherwise. 589: ’’ p' Sec. 168. Mortgagees, or others having equitable interest in real Ti m ° °“°”°d property sold for taxes, shall be allowed one year after obtaining pos- ;."6g &'°'f°' session, or a decree lor the sale of such property, to redeem the prop- ——-—¢---.—. erty so sold from the purchaser, or his assigns, on paying the amount Ib‘d·· P- 5*- of purchase-money, with ten per cent. interest, and all the taxeg that have been paid thereon by the purchaser, or his assigns, between the day of sale and the period of such redemption, with ten per cent. interest on the amount of such taxes, and also the full value of the improvements which may have been made or erected on such property by the purchaser, or his assigns, while the same was in his or their possession. _ _ _ Sec. 169. Minors shall be allowed ono year after coming to or being In ¤¤¤¤ af M5- of full age to redeem real property sold for taxes, subject to the condi- tions mentioned in the preceding section. Ibid. Sec. 170. Where the estate of the tenant in default, as for years or grfe-¤¤t=•¥;<;; Qcé. for life, shall be sufficient to defray the taxes chargeable thereupon, (‘;,y°t‘; b:‘;0,‘3f"‘ · such estate only shall be liable to be sold for taxes. ,R5,_______ Sec. 171. It shall be lawful for the proper officer to postpone to a 1’cstp¤ucm¤nt¤f future day, for want of bidders or other reasonable cause, the sale of §‘Q'*g;________ any property advertised to be sold under the provisions of the preceding 1bid.,s. 11, p. 590. sections` 17 May, 1848, c. 42, B- 7,V·9»PP· WW228- Sec. 172. Public notice shall in all cases, be given of such postpone- Ifotiqe to be gwment, and the sales made at sudh postponed time shall be equally valid as if made the day first designated for the sale. Ibid., p. 22S.