9. No action or suit or other proceeding shall be brought to recover any sum of money secured by any mortgage, judgment, or lien, or otherwise charged upon or payable out of any land or rent at law or in equity, or any legacy, but within twelve years next after a present right to receive the same shall have accrued to some person capable of giving a discharge for or release of the same, unless in the meantime some part of the principal money or some interest thereon, shall have been paid, or some acknowledgment of the right thereto shall have been given in writing signed by the person by whom the same shall be payable, or bis agent, to the person entitled thereto, or his agent, and in such case no such action or suit or proceeding shall be brought but within twelve years after such payment or acknowledgment, or (if more than one) the last of such payments or acknowledgments was given.
10. After the commencement of this Ordinance no action, suit, or other proceeding shall be brought to recover any sum of money or legacy charged upon, or payable out of, any land or rent, at law or in equity, and secured by an express trust, or to recover any arrears of rent or of interest in respect of any sum of money or legacy so charged or payable, and so secured, or any damages in respect of such arrears, except within the time within which the same would be recoverable if there were not any such trust.
11. In the completion of any contract for sale of land made prior to or after the commencement of this Ordinance, and subject to any stipulation to the contrary in the contract, twelve years shall be the period of commencement of title which a purchaser may require.
12. In the completion of any such contract as aforesaid, and subject to any stipulation to the contrary therein, the obligations and rights of vendor and purchaser shall be regulated by the following rules, that is to say:-
First. Under a contract to grant or assign a term of years, whether derived or to be derived out of a freehold or leasehold estate, the intended lessee or assignee shall not be entitled to call for nor enquire into nor make any objection to the title to the freehold;
Second. Recitals statements, and descriptions of facts,
matters, and parties contained in deeds, instru- ments, ordinances, or statutory declarations twelve years old at the date of the contract, shall, unless and except so far as they shall be proved to be inaccurate, be taken to be sufficient evidence of the truth of such facts, matters, and descriptions;
Third. The inability of the vendor to furnish the purchaser with a legal covenant to produce and furnish copies of documents of title shall not be an objection to title in case the purchaser will, on the completion of the contract, have an equitable right to the production of such documents; Fourth. Such covenants for production as the pur- chaser can and shall require, shall be furnished at his expense and the vendor shall bear the expense of perusal and execution on behalf of and by himself and on behalf of and by all necessary parties other than the purchaser ;
Fifth. Where the vendor retains any part of or any interest in any estate to which any documents of title relate, he shall be entitled to retain such do- cuments but shall, at his own expense if required, give to the purchaser notarially certified copies of such documents as he shall retain ;
Sixth. The inability of the vendor to get in the legal estate of and in any land contracted to be sold which shall have been outstanding for a period of at least twelve years immediately preceding the date of the contract shall not be an objection to title.
13. Trustees who are either vendors or purchasers may sell or buy without excluding the application of the 10th section of this Ordiuance.
Money charged on land and legacies to be deemed satis- filed at the end of twelve years if no interest paid nor written acknowledg- ment given meantime.
[37 & 3 Vict., c. 57, a. 8.]
Time for reco- vering charges and arrears of interest not to be enlarged by trusts for raising same. [87 & 38 Vict.,
57, s. 10.]
Twelve years the root of title.
[37 & 38 Vict.. c. 78, 8. 1.]
Rules for regulating obligations
and rights of vendor and purchaser. [37 & 38 Vict, c. 78, s. 2.]
[37 & 38, Vict...
78, s. 2.]
[37
38 Vict,
c. 78, 0.2.j
[3837 & 38 Vict. c. 78, B. 2.]
Trustees may sell, &c., notwithstand-
ing rules. [37 & 38 Vict..
c. 78, 8. 3.]
145