When George Cady’s brother William died in the February of 1790, George inherited his brother’s real estate in Great Ellingham. This land and property had once belonged to the brothers’ father, Thomas Cady.
The black dot on the above extract from the 1802 Great Ellingham Inclosure Map shows the position of Cady’s property in Bow Street.
Although a married man, William Cady left no will and no children. However, even though William was survived by his widow (Susanna), his property passed to his brother George. This inheritance was subject to Susanna’s right to a dower and also to William Cady’s outstanding mortgage to John Barnard.
The deeds describe the Cady’s property in Bow Street as:
one acre of land lying in Great Ellingham between the lands late of Issac Harvey before that James Harvey in part towards the west and the lands now or late of George Cady towards the east and abut the lands of the same George Cady towards the north and one tenement and three acres lying in two pieces - first piece containing one acre three roods parcel (or part) of a tenement and three acres of land and the second piece containing one acre one rood with the said tenement there upon built called Newmans and lying in Great Ellingham between the lands now or late in the tenure of Ann Cady widow and Eglius Meare on the east and the land late of James Harvey on the part of the west and abutting upon the Common Pasture of Great Ellingham towards the north and upon lands late of James Harvey towards the south
1790 Release of Dower
On the 15th March, 1790, and having received the sum of £9 10s (nine pounds and ten shillings) from her brother-in-law George Cady, widow Susanna Cady of Norwich released any claim to a dower in her late husband William’s property.
1790 Repayment of the Mortgage Debt in Full
Extract from Assignment of Mortgage Term 14th July 1790 Barnard, Cady & Bingloe. Courtesy Roger Banks
Four months later, George Cady repaid his late brother’s mortgage to John Barnard.
The History of the Cady’s Mortgages
William and George’s father, Thomas Cady, had in 1751 borrowed £55 from John Oddin which (with interest) was secured by the property in Bow Street. When Thomas Cady died in 1764, the mortgage debt remained outstanding. Accordingly, when his eldest son William inherited the property he also took on his late father’s mortgage debt.
Further Borrowing
In 1782, William Cady remortgaged the property for £100 plus interest to local man and linen weaver John Barnard At the same time, William Cady repaid the sum £55 (with interest) owing to John Oddin (who had by then died).
William Cady defaulted on the mortgage.
Accordingly, when George Cady inherited his brother’s property, the mortgage debt of £100 plus interest of £42 10s remained outstanding and due to John Barnard.
The Repayment & Assignment of the Mortgage Term
Extract from Assignment of Mortgage Term 14th July 1790 Barnard, Cady & Bingloe. Courtesy Roger Banks
On the 14th July, 1790, George Cady, described as a yeoman of Great Ellingham, repaid his late brother’s mortgage to John Barnard. Consequently, the ‘title’ to the property reverted to Cady.
Assignment of the Mortgage Term
The term of William Cady’s original mortgage of 12th January, 1782, was for 500 years. Historically, it is not uncommon to find a mortgage term of 500 or even 1000 years. However, when the mortgage is repaid (or assigned), the residue of the mortgage term has to be dealt with i.e. usually assigned to a trustee.
Accordingly, when George Cady repaid his late brother’s mortgage debt in full, the residue of the term of the mortgage was simultaneously conveyed to Charles Bringloe, as trustee for George Cady. However, in effect this is merely a formality. Bringloe had no interest in the property itself.
Mortgage Free
After some thirty years, the property in Bow Street was mortgage free.
Inclosure Award
Ten years later, George Cady added a further five and a half acres to his farm under the Great Ellingham Inclosure Award.
Source: Private Collection of Deeds. Property in Bow Street, Great Ellingham. Courtesy Rogers Banks