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A Civil Contract
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Introductions & Discussions > settling mortgage

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message 1: by Judith (new)

Judith | 9 comments After Adam finds that his speculation on the stock market during the Battle of Waterloo has paid off handsomely, his father-in-law Jonathan Chawleigh offers to settle the mortgages he holds on Adam's Fontley Abbey. Adam says he would rather his father-in-law settle them on his new born son (named for both his grandfathers), which Chawleigh agrees to. How exactly is this done? By Chawleigh setting up an endowment that will pay off the mortgages when the grandson comes into the title? (Presumably Chawleigh, who seems to be in his 50's, and must be in his 40's at least, would die before Adam is likely to.) Any help on this legal question would be appreciated. With thanks, Judith


message 2: by HJ (new) - rated it 3 stars

HJ | 18 comments I've often wondered this, so thanks for asking the question.


Kelly (kellywashington) | 1 comments My guess is that Mr. Chawleigh owns Fontley fair and square after buying the mortgages, and that when Mr. Chawleigh dies, his Will will annotate that the baby Lynton will inherit the estate, thus bypassing Adam.


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