Read the untranslated law here: http://www.consigliograndeegenerale.sm/on-line/home/archivio-leggi-decreti-e-regolamenti/scheda17009107.html
LAW FOR RENEWAL OF MORTGAGE REGISTRATIONS
24 November 1887
1. - Mortgage registration retain their effectiveness for thirty years from the date of enrollment
; and it ceases to have legal effect, if it is not renewed before the expiry of the thirty-year term
2. - There have mortgage inscriptions exempt from the renewal, except those
dowry dowry or to guarantee loans: which will force without renewal
throughout the life of the woman, in whose favor are taken, and for the 'year following the death of the same,
except in cases of cancellation, legitimately executed. 3
. - The mortgage registration in favor of the state will be renovated to care and responsibility of the Government
4. - The mortgage registration in favor of moral bodies, legally recognized, of institutions, of
convents, monasteries, colleges, seminaries, parishes, blessings, chapels, fraternities, etc.,
Will be renovated by and responsibility of It legitt administrators or representatives. But if
immovables of the same institutions are made payable to the Government of the Republic, also
mortgage registrations will be renovated by the Government and responsibilities of auditors.
5. - The mortgage registration in favor at the time of renewal, of wards or minors, and
mortgage registration in favor of prohibitions, will be renovated to give their guardians or trustees
under their responsibility.
6. - The effect of the liability referred to in the preceding articles, it is the obligation of the
reconstruction of damages caused by the lack of renewal of registration mortgage.
7. - The deadline for the renewal of a mortgage registration expires with thirty years, the
which considers course of the closure dell'uffico conservation, the day before
one that corresponds to the date of registration. If the day of expiry of the aforesaid three decades,
is a holiday, the renewal must be made the previous day, no holiday.
8. In the margin at every mortgage registration, it is no dowry, not renewed by the deadline
as fixed above, the Registrar of mortgages will have to write down the forfeiture occurred
9. - To proceed with the renewal will be presented to two notes in conformity with the previous Conservative
inscription, which, however, will be headed: Note for the renewal of the mortgage;
Bringing the date of registration and the volume numbers and article.
10. - Similar indications of date and volume numbers and item primary mortgage will place
Conservative in the records at the beginning of the new registration. In the margins of the ancient inscription
it will write down the date of the renewal and the volume numbers and article.
11. - Together with the two notes, as per Art. 9, must present the enrollment note
renew itself, which will take place title.
The two notes for renewal must be written and signed in accordance with the provisions of Art
. 44 of the Regulations annexed to the Law of 26 March 1857.
12. - If the new registration must be in favor of other than the person for whose benefit it was
assumed the old registration, it must give interested parties justify the title under which
requesting such registration.
13. - If at the time of renewal, the assets affected by the mortgage bond, appear headed in
land registers to persons other than those which were made payable at the time of enrollment
mortgage, this will have to renew itself, not just against the ancient payable, but also against the current
14. - Each mortgage registration can not be renewed in the last six months of the date
15. - If the registration is renewed before it expires, within the limits established by the preceding article,
the effect of renewal does not work that at maturity, and remains in effect until this primitive
16. - For registrations, renewals and transcriptions, as well as the stamp duty and fees payable
office of preservation, you will pay a proportional fee according to the following standards:
For registrations, renewals and transcripts of a value :
up to 250 L. .... L. 0.50
up to "500 ...." 1,00
up to "1000 ...." More than 1.50
1000 lire you will pay fifty cents for every 1000 pounds or fraction 1000 lire.
It 'abolished fixed tax currently in force.
17. - This Act will come into force on the day 4gennaio 1888.
18. - With the provisions of this Law does not derogate from nor means to repeal the laws
16 March 1854, 26 March 1857 and annexed Regulations, and the Law and Regulations on June 18
1868, nor any other laws and decrees regulating the mortgage inscriptions, except in those parts, which are irreconcilable
glues rules laid down by it.
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