Loans on mortgage may also be granted to landowners and agricultural unions, with a view to the introduction of agricultural improvements.
A married man may not sell or mortgage a homestead without his wife's consent.
Besides these, there are four non-issue banks, two foreign banks and their agencies, and three mortgage banks, with agencies at the important provincial centres, which loan money on real-estate security and issue interest bearing hypothecary notes to bearer.
In 1894 was passed the Advances to Settlers Act, under which state money-lending to farmers on mortgage of freehold or leasehold land was at once begun.
If the owner is a married man, he cannot sell or mortgage it, except for the purchase money, unless his wife joins him in the execution.
In 1910 the coffee industry had not yet recovered from the effect of the cyclone of 1899 and the unfortunate mortgage system that prevailed under the Spanish regime.
In 1895 began a marked commercial revival, mainly due to the steady conversion of the colony's waste lands into pasture; the development of frozen meat and dairy exports; the continuous increase of the output of coal; the invention of gold-dredging; the revival and improvement of hemp manufacture; the exploiting of the deposits of kauri gum; the reduction in the rates of interest on mortgage money; a general rise in wages, obtained without strikes, and partially secured by law, which has increased the spending power of the working classes.
A woman's right to hold, manage and acquire property in her own right is not affected by marriage, but for a married woman to mortgage or convey her real estate the joint action of herself and her husband is necessary.
Either husband or wife may hold, manage and dispose of his or her separate property independent of the other, but property which they hold in common is under the management and control of the husband except that he cannot devise by will more than one-half of the community real or personal property, or convey, mortgage or encumber any of the community real estate unless his wife joins him.
The homestead law of New Hampshire exempts from seizure for debt five hundred dollars' worth of any person's homestead except for the enforcement of a mortgage upon it, for the collection of debts incurred in making repairs or improvements, or for the collection of taxes.