Legal Question in Real Estate Law in Pennsylvania
What obligations am I under from this clause?
I further do hereby confess judgment for the same sum, with an attorney�s fee of ten (10%) per centum thereof for collection; and we do hereby waive the benefit of all laws exempting property from levy on execution, the right of inquisition of real estate, voluntarily confessing condemnation thereof, with a release of all errors and without stay of execution. This is Number (1) of a series of (1) note(s); upon the default in the payment of any one of the notes, all the remaining notes shall, at the option of the holder, immediately become due and payable without notice.
3 Answers from Attorneys
Re: What obligations am I under from this clause?
I would ask a lawyer who is licensed to practice law in Pennsylvania. Much of this clause would be illegal in California, for example we don't have the Inquisition here.
Re: What obligations am I under from this clause?
This is BS...it looks as though some cretin strung together a bunch of words he thought sounded legal but are nonsensical.
Re: What obligations am I under from this clause?
This is BS...it looks as though some cretin strung together a bunch of words he thought sounded legal but are nonsensical.
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