Evening Star Newspaper, May 7, 1932, Page 20

B—4 == TRUSI REGULA"UNSl , Suburban Dwelling Purchased ARE DECLARED 0. K. Proposed Law Is Given Ap- proval by the Washing- ton Realtor. The proposed law providing new regulations concerning the releasing of deeds of trust, oduced in the Senate by Senator Blaine, Republican, of Wis- “is right in principle, workable ctice and will afford adequate protecticn to the public,” it is declared in the current issue of the Washington Realtor, official publication of the Washington Real Estate Board. In an explanation of the provisions and purposes of the propesed law the board's statement continues “Its provisions go direct to the source of two evils—namely, fraudulent re- leasing of deeds of trust and the issu- ance of duplicate notes. In practice it increases slightly the cost cf recording deeds of trust and releases thereof, places some burden of inconvenience on those handling real estate transactions and will require generally a greater measure of care in the preparation of Teal estate conveyances. “With certain exemptions and ex- cept upon order of the court this leg- islation will require all real estate notes 10 be identified by the recorder of deeds at the time the deed of trust is re- corded. This requirement applies to both first deeds of trust and subsequent deeds of trust and whether they secure borrowed money or deferred purchaise payments. The identification must follow & form specifi ot out in the bill and must be s y the recorder or one authorized law to sign for him, Provision Made. “Except upon order of court and in certain other exempted cases the re- not racord any deed of re- y deed of trust until all of notes secured thereby have been presented to him marked ‘paid’ and duly canceled. Provision nas been made for cases wherein the note has been Jost or is otherwise unavailable. In such instances the release may be re- corded a proper bond is filed with the recorder or a sufficient sum of money has veen deposited in the ry of the court. The detail meth- be pursued is specifically outlined. “Partial re s presented the most difficult phase of the drafting of this legislation, yet the sections covering this type of release provide a definite means for handling any partial release with both facility and ample safeguards. ‘Where partial releases are based on the actual payment of part of the debt the recorder may record the release upon presentation to him of satisfactory evi- dence of the payment. In all other instances the recording of partial re- leases must be by order of court. - “Both the identification of notes and the presentation of cancelled notes, as well as the procedure for partial re- leasing, may be avoided by using as a trustee a banking institution ceming under the supervision of the controller of the currency. These three require- ments of the law also do not apply to deeds of trust of public utility corpora- tions nor to any release thereof. When a banking institution, or so-called In Fairness to Yourself! See These Homes Before Buying Near 16th Street Hills! A Beautiful Home of 6 Spacious Rooms 2 COMPLETE BATHS 20 Feet Wide—3 Porches BUILT-IN GARAGE price $9, 25 TeRMS Sample Open to 9 P.M. 1370 Sheridan St. N.W. (Out Ga. Ave, or 16th St. fo Sheridan to Houses) Convenient to Schools and Churches, Street Cars and 16th Street Busses. Waple & James, Inc. 1226 14th St. N.W. North 0962 Qutstanding $10,850.00 3419 Oliver St. N.W. Six large rooms and two com- plete bath th colored tiling. On a lovely lot 60x120 to paved is this 1l brick and gar- worth more the purchase y and every afterr ng the week. Phillips & Canby, Inc. Na. 4600 Investment Bldg. Suburban Home Greatly Reduced in Price $10,950 ALL-BRICK CONSTRUCTION 6 large rooms. built-in bath, open fireplace ive side porch, electric refrigeration, garage Almost 35 -Acre of Ground 6804 45th St. (LELAND) An Inspection Will Prove Well Worth Your While Open Saturday and Sunday Wm. M. Throckmorton Imvest. Bldg. Dist. 6093 Ave. on Lelard north buflders. Residence at 4820 Middlesex lane, Edgemoor, Md., which has been acquired by Mr. and Mrs. J. Philip Shaefer from the Edgemoor Land Co., owners and THE EVENING STAR, WASHINGTON, D. C., SATURDAY, MAY 7, 1932. ‘corporate trustee,’ is used it must ac- cept the trusteeship by its signature and seal to the deed of trust before recording. “The three basic_principles of this legisiation deal wil the matter of fraudulent releasing. It is designed to prevent fraudulent releasing of deeds of trust in cases where the money ocover- ing the payment of the notes has been deposited with the house issuing the notes, although not actually remitted to the holders of the notes. Any clause in a deed of trust permitting a release when the funds are so deposited is de- clared invalid unless a banking institu- tion, under the supervision of the con- troller of the currency, is named as the depository and where such banking in- stitution accepts as such depository by trust before it is actually recorded. Fees Described. “In addition to the customary fees now charged for the recording of deeds of trust and releases this legislation provides a minimum fee of $1 identifying notes in cases where there is only one note, with a further fee 112 Shepherd St., daylight cel below expectation. 2 Wood-burning Fireplaces 2 Complete Baths Built-in Garage Fully Landscaped Lot marked Takoma its signature and seal to the deed of | for | Just Around the Corner From Columbia Country Club Six large rooms, fireplace, bath, electric refrigeration, attic, lar, oil burner, screens, weather strip. Lot 65-foot front running through to next street. Drive out Conn. Ave., Right one block on Shepherd St. Tower Bldg. M DIst. 0853 Homes of Elegance and Charm “That Speak for Themselves” BURDETT STRYKER Owner and Builder Highest Elevation in Marietta Park 701 NICHOLSON ST. N.W. (Just Around the Corner from Paul Junior High School.) 8 LARGE ROOMS AN FULLY FINISHED ROOM IN THE BASEMEN —A Few of the Features— All Doors and Windows are Caulked, Weather Stripped and Copper Screened Inspect today—Open and lighted Day and Night To reach: Drive out 8th, turn right at Nicholson, or 14th St. car get of at Tth and north to Nicholson, or through Rock Creek Park east on Military Rd. and Concord Ave. A. H. Parker, Met. 3917 or any broker of 10 cents for the identification of each | additional note secured under the deed of trust. In the presentation of notes for release the additional fee is 50 cents for the first note presented and 5 cents for each additional note presented. “As the law specifically provides that the recorder of deeds shall not accept for record nor record any deed of trust or release except in compliance with the terms of the law there is no impair- ment or involvement of title procedure. All requirements of the law must be complied with before the papers are | recorded. “The Blalne release bill is not retro- active and its provisions become efTec- tive 90 days after passage. It is believed that this period will give sufficient time | to the recorder of deeds to become equipped to perform his new duties and to readjust the terminology of deed of trust forms and release forms so that the supply can be replenished and a new form of note developed designed to accommodate the identification of the recorder which can be imprinted on the note with sufficient blank spaces to insert in writing the identifying in- | formation and signature of the recorder.” Chevy Chase, Md. Two-car garage. Priced D AN EXTRA LARGE Copper Gutters and Downspouts Chromium Plumbing Fixtures Insulated Throughout McDougall Kitchen Cabinet IMOTHERS PRAISED | representative houses of the 6,000,000 FOR HOME PLANS Understanding of Necessary Building Features Found Same as Long Ago. Prevailing styles of architecture and curtains and rugs may have changed | in the past quarter century, but the| principles of home owning that make a house livable are adhered to still by the mothers of the country, according to the United States Building and Loan League | Praise for the understanding that the | mothers have of the features of a house that makes a real home is sontained in a statement of the Home Bullding and Home Owning Committee of the league, issued today in observance of Mother's | day. The committee finds, in studying homes financed through the loan as- sociations, three important ideas reveal- ing the influence of the wife and mother in_home selection and development. “In the first place, mother is not bent upon having a palace so much as upon owning & home with space enough for the youngsters at all times, without their being shoved into a dining room | closet or apartment back porch with | their toys.” says the committee chair- man. “In other words the house, as | mother picks it out, is designed for the family to breathe freer and more happily than any place else, and that rule is to hold true from dad on down r-olds. 1 will find few mothers ' willing to buy a home that costs more than 2 or 2% times the family’s annual income. This is the second bit of Wis- dom which the younger family today would do well to take out of mothef's1 book. With the future welfare of her family as much on her mind as their present enjoyment, she weighs the budget carefully, and insists that they | shall keep within cost limits which will | permit them a reasonable certainty of | ving off the mortgage in eight or ten | years. Then she gets to work and makes | the most home possible out of the| dollars they have. It has been found that mothers can teach designers and architects something about the little | details which make a home livable. “Thirdly, mothers always insist that the home must be something more than | a dormitory and a breakfast nook for the people who live there. The home Owner’s mother would want would have invari. ably some Flace to extend old-fashioned | fireside hospitality to the friends of the | generation growing up. With such a| home as early in life as possible, :he{ growing-ups will not be eager to move | to a newer section of town, because their attachment for the home will be | stronger than a fashionable whim. 1 “Mother’s influence toward home owdership should be one of the chief grounds on which the Nation honors her. Hundreds and hundreds of cases | show her saving here and there in her household expenditures until thére was enough there for a sizable down pay- ment on the home. It can safely be| | | said that the urge to home ownership which when realized makes better | citizens and more desirable communi- | ties is a national contribution on the part of the mothers of the land.” | Sacrifice OF A DETACHED CENTER-HALL HONME 514,750 3712 Ingomar Street (1 Block West of Connecticut Avenue) Chevy Chase, D. C. LOT HAS 60-FOOT FRONTAGE Features: Lovely living room opening on ¢ porch; den, breakfast nook, especially conve , two baths, a near schools, ¢ ¢ hed rooms, e, screens, kitchen. Three lag ol burner, Frigic transportation 1d screened side ent pantry and 2-car garage, stores and overed a Beautiful Tree-lined Street OPEN ALL DAY SUNDAY For Your Inspection THAT A SMALL HOUSE can be as comfortable AS A MANSION A seven-room house may not be large, but Model Home, Completely Furnished, of P. H. If at 5214 4th St. N.W. "HOME OF QUALITY" 15 Fairfax Street Va. $6,950 HIS embraces ture pointed h ing room daylight hixtures; kitchen t frigeration, (Garage. bus lines, and pletely renovated throughout. home every fea- complete, w today Large lace; twe bed r Inspection to stores schoc m- Drive over Key Bridge—out Lee Highway—turn right two blocks beyond main entrance to Lee Heights. EAVER BRO REALTORS Exclusive Agents Washington Bldg. Dist. 9486 Sales Agents, Wm. H. Saunders Co., Inc,, 1519 K St. NW. s Realt Co., To see the house drive out K Hampshire Ave. to 4th St., thence north to 5214. planned by Willis and equipped with gas, it can be as comfortable as the most pretentious dwelling. Just such a house is open and for sale for $9.450, including gas heat, at 5214-4th Street N.W. It is one of an attractive row, of brick. with the massive chimneys and substantial appearance which dis- tinguish the houses of P. H. Willis. Besides living room, dining room and kitchen, there 1s a spacious library overlooking the roomy grass plot in the rear. The kitchen is in cheery green and cream, with the latest—type table-top gas range, quiet gas refrigerator and an abundance of 3412 n right ternson § 5520 Conn. Ave. -A Ne;;l Quality Bricl_( I‘iomei ‘ Well Located in Chevy Chase, D. C. Patterson St. Glxanoss Ladnkinst xoom 2 |baths alscplogtnorch: 9 living pocchas, Enishad athe./dato soot. dersered and weather-stripped, copper spouting, cedar closets, slate roof—-all built to last through the ages. OPEN ALL DAY TODAY AND TOMORROW Chase Cirele on to ihe house.) Edw. H. Jones & Co., Inc. Cleve. 2300 cupboards. Downstairs is a recreation room, with fire- place. a laundry. furnace room, with automatic gas built-in garage. TUNE plenty of closets. Comfortable? Why, here is a home with just WASHINGTON model house, and prove it. heat and automatic gas water heater, and the Upstairs are three bedrooms and two baths, and about evcrything any family could desire—au made clean. convenient, carefree by moclern gas appli'— ances. Gas now brings the advantages of t}xe man- sion to t}lg family of moderate means. See this GAS LIGHT COMPANY Builders’ and Architects’ Division 419 Tenth Street N.W. IN THE WASHINGTON GAS LIGHT ORCHESTRA EVERY SUNDAY EVENING AT 6:30 ON WRC NAtional 8280 information, call the bulder at Cleveland 3862. In addition to P. H. Willis Realty Co. these Washington builders also modernize their homes with gas— G. L. Bennett L. E. Breuninger & Sonms, Inc. Boss & Phelps Beitzell & Horning Breuninger & Phifer Buriett Stryker B. M. Brosius Edson W. Briggs, Inc. Cafritz Construction Co. Capital View Realty Company Columbia Construction Company Country Club Hills Virginia Henry J. Connor Cooley Bros. D. J. Dunigan, Inec. Federal Construction Co. J. F. Fox G. H. Gaskins Clarence W. Gosnell B. H. Gruver Harvard Terrace Development Corp. Fred W. Horton H. P. Huddleson Independent Investment Co. Jacobson Bros. Tandolph L. Jennings Kennedy-Chamberlin Development Co. Max Gorin McKeever and Goss M. Mezzanotte C. F. Mikkelson & Son W. C. & A. N. Miller Frederick B. Mills J. C. Nealon A. T. Newbold L. E. F. Prince Fred Schnider Security Building Corp. Shapiro Construction Co. Joseph M. Stanley Waverly Taylor John B. Tiffey Waple & James Wakefield, Inc, C. M. Wileox C. W. Willams Edward M. Willis Earl Warren Wire Construction Co,, Walter Vaughn Inc.