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Effect of the redemption of a pledge by a third party
Features of customary pledge
Principles governing Customary Pledge
The position of the law where a member of a family either redeems pledged property from a pledgee of the family or buys family pledged property
The principle that a customary pledge is perpetually redeemable
The principle that an averment of pledge needs to be proven
What customary pledge entails
Whether a customary pledgee is entitled to take possession of the house and to collect the rents without accounting to the pledgor
Whether a customary pledge for a long period of time is invalid
Whether lapse of time is a bar to the redemption of a customary pledge
Whether the fact that the pledgee has spent money to improve the property bars the pledgor from recovering the property upon payment of the debt
Whether the successors of the original owners can exercise their right to redeem a pledged property whenever they decide to do so
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