Security may be transferred.
XXVIII. And be it further enacted, That it shall be lawful for the Persons entitled to any of the Securities for the Money borrowed, or for the Annuities granted as aforesaid, by Writing under their Hands and Seals indorsed thereon, to transfer the same to any Person or Persons in the Words or to the Effect following:
Form of Transfer.
I A. B. do hereby assign the within Mortgage [or Grant of Annuity], and all my Right and Title in and to the Principal Money and Interest [or Annuity, and all Arrears now due thereon] thereby secured, unto C. D. his Executors Administrators, and Assigns. Dated the . . . . . . Day of . . . . . .
And Entries or Memorials of all Mortgages or Assignments, and Grants of Annuities, which shall be made in pursuance of this Act, and of all Transfers thereof, expressing in Words at Length the Names, Additions, Places of Abode, and other proper Descriptions of all such Persons as shall from Time to Time be entitled to the Principal Money and Interest, or the Annuities thereby respectively secured, shall be entered in a Book, to be kept for that Purpose, by the Clerk to the said Commissioners, to which Book any Person interested shall, at all seasonable Times, have Access, and shall have free Liberty to inspect the same, without Fee or Reward; and for the Entry of every such Assignment the said Clerk shall be paid Two Shillings and Sixpence, and no more; and every such Transfer shall entitle the Person or Persons, to whom the same shall be made, and his, her, or their Executors, Administrators, and Assigns, to the Benefit of the Security thereby transferred; and all Persons to whom such Mortgages or Assignments, or Grants of Annuity, shall be made, or who shall be entitled to the Money thereby secured, shall be, in Proportion to the Sums therein respectively mentioned. Creditors on the said Rates or Assessments equally one with another, without any Preference in respect to the Priority of advancing such Money, or the Dates of any such Mortgages or Assignments, or Grants of Annuity.