| dc.description.abstract | Whilst the laws affecting property in these countries have wisely
given to every one an unrestricted power of disposal over the property
of his own creation, they have, at the same time, indirectly
interfered with that privilege in practice, by throwing obstacles in
the way of the alienation of land, injurious alike to the owner or
debtor, and his creditor. As the power of transferableness forms
one of the elements of the value of a commodity, any restriction on
that power is a diminution of its value to the owner; whilst his
creditor, from the period that he became entitled to claim the property,
by advancing his money, his labour, or his goods, is injured
in proportion to the delay and expense attendant upon its alienation. In considering, therefore, economically, the laws that
affect the transfer of land, I propose to review them not only as
they affect the possessor or the debtor, but also his creditor; and
will endeavour to establish that whilst mortgages and charges
created by the owner should be the only permanent incumbrances
upon land, yet that it will not be incompatible with the speedy
transfer and improvement of real property, that it should be liable
to the claims of judgment creditors. | en |
