Author Topic: 'Letter of Reversion' Query  (Read 782 times)

Offline castlebob

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'Letter of Reversion' Query
« on: Friday 12 November 21 09:10 GMT (UK) »
Hello All,
I'm trying to find the entry that the following statement which appears on p72 of 'The Hawick Word Book', refers to:

'Simon (Armstrong) of Whithaugh had a letter of reversion to George, Lord Home. This involved lands in Ewesdale, including Mosspeeble, Unthank, Fiddleton, Mosspaul and others'.

The letter is dated 1525. Later entries in the Register of Privy Seal of Scotland, dated 18th Aug 1536, 12th  Dec 1537 and 11th Feb 1538 have what appear to be  updates re the above. However, I can't find the 1525 ref. Any ideas anyone?
Cheers,
Bob

Armstrongs of   Bedfordshire, England & Canonbie ,Scotland

Offline GR2

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Re: 'Letter of Reversion' Query
« Reply #1 on: Friday 12 November 21 10:33 GMT (UK) »
If you give someone a letter of reversion, you undertake to return land to them at a certain time or under certain conditions. As charging interest was illegal in pre-Reformation Scotland, it was common for a landowner in need of money to issue a charter selling certain lands to someone, who at the same time gave the seller a letter of reversion agreeing to surrender the lands for a set payment at a certain time and place. The sum is usually what was paid initially. In the meantime the person granting the letter of reversion got the annual income from the lands, which was legal, instead of being given illegal payments of interest on the money. If the granter of the charter could not repay the granter of the letter of reversion at the fixed time, then a new letter of reversion would be given with a later date of repayment and the granter of the letter would continue to enjoy the revenue of the lands.

It may be that the initial letter of reversion was not recorded in the Register of the Privy Seal. Many of them were not.

If Lord Home's papers survive in an archive, there may be a copy of the letter there.

Offline castlebob

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Re: 'Letter of Reversion' Query
« Reply #2 on: Friday 12 November 21 11:07 GMT (UK) »
Many thanks. I'll keep searching.
Armstrongs of   Bedfordshire, England & Canonbie ,Scotland



Offline castlebob

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Re: 'Letter of Reversion' Query
« Reply #4 on: Saturday 13 November 21 20:15 GMT (UK) »
Excellent!
Many thanks,
Bob
Armstrongs of   Bedfordshire, England & Canonbie ,Scotland