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Power of Commissioners to accept mortgages as security for a portion of purchase money.
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52. [1] [1 The interest on mortgages under this section is reduced, 50 & 51 Vict. c. 33. s. 25.] Where the Commissioners sell any land or interest in land in pursuance of this Act, the Commissioners may credit the purchaser with such part of the purchase money, not exceeding three-fourth parts, as they think proper, on having payment of the same, with interest at the rate of four per centum per annum, secured to the satisfaction of the Commissioners; and any such purchase money may be made payable by half-yearly instalments not exceeding sixty-four in number.
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