An indenture between Elazerus Brewer, of Shrewsbury, and the Commissioners of the Loan Office of Monouth County, dated 12 July 1776, is item No. 30 in Abstracts of Early Monmouth County Court Papers, Part II.
No. 30, Elazerus Brewer Indenture, 1776
In this indenture, which is in effect a mortgage, Elazerus Brewer is accepting a consideration of eighty-six pounds received from the Commissioners of the Loan Office, for a tract of land situate in Shrewsbury, that was conveyed to Elazerus by deed from James Williams dated 6 April 1772. The tract contains about one hundred acres and is bounded on the west by the Highway, on the north by Constant Hulit (Hulett), east by the brook, and south by other land of Elazerus Brewer. A repayment schedule is described in which Elazerus is to pay eight pounds, twelve shillings on the 25th of March of each year, for ten years, beginning in 1786.
This mortgage was taken out on the eve of the American Revolution, and at that time this Loan Office of Monmouth County would have been an entity of the British Crown. By the time 1786 rolled around, when Elazerus was to begin his repayment, the former American Colonies had won their independence, and the New Jersey Legislature was the governing entity in New Jersey. Was the Monmouth County Loan Office still in business? Was anyone there to accept or enforce collection of Elazerus' loan?
Details regarding Elazerus Brewer, sometimes referred to as Lazerus Brewer (or Brower) were covered in the December 18, 2013 post.
BGB 361
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