CONDITIONAL SURRENDER. A sur render of copyhold property into the hands of the lord of the manor for the benefit of a mortgagee, the condition being that when the mortgage money has been repaid, the surrender must be cancelled by satisfaction being entered on the court rolls.
For the stamp duty see MORTGAGE and Section 87, s.s. 4 and 5, of the Stamp Act, 1891, quoted thereunder.
The following is an example of a con ditional surrender and admittance, though a mortgagee is usually satisfied by the conditional surrender being entered on the court rolls, without seeking admittance :— Special Court Baron and of Court of Lord of the said Manor holden at for the said Manor on day of 19 Before , Steward To this Court came A. B. and did surrender into the hands of the Lord of the said Manor, All that Cottage, etc., of the Yearly Copyhold Rent of To the use and behoof of C. D., his heirs and assigns for ever according to the Cus tom of the said Manor Upon the Conditicn that if the said A. B., his heirs, executors, s. d. administrators or shall Rent . • on the day of Fine next ensuing pay or cause to be paid unto the said C. D., his executors, administrators or assigns the Sum of and interest for the same at the rate of per cent= per annum And also all Cus tomary outgoings whatsoever (whether for fines, fees of ad mission, acknowledgment of satisfaction. licence to demise,
heriots, reliefs, suits and ser vices or the value thereof or otherwise howsoever) which the said C. D., his executors, administrators or assigns shall render or pay in respect of the said Copyhold hereditaments with interest for the same at the rate aforesaid without de duction then this Surrender to be void. And thereupon to the same Court came C. D. and took of the Lord of the said Manor by the hands of his Steward the Cottages etc. aforesaid with the appurten ances To hold the same to him his heirs and assigns for ever according to the Custom of the said Manor Upon the Condition aforesaid Paying the Rents and performing the services of Right due and accustomed and having paid the Lord for his Fine as in the margin and done his fealty is thereupon admitted tenant according to the statute.