gagee

After three renewals (or 16 years total), the land passed permanently to the gagee.

This is known as a shifting fee and was sufficient after 1199 to entitle the gagee to bring an action for recovery.

Under a gage the borrower (gagor) conveyed possession but not ownership to the lender (gagee) for an unlimited term until redemption.

The gage was unattractive for lenders because the gagor could easily eject the gagee using novel disseisin, and the gagee-merely seized ut de vadio "as of gage"-could not bring a freeholder's remedies to recover possession.

The land would be made over to a gagee (pridwr) for a period of four years, and if the land had not been redeemed by the gagor (owner) or his heirs at the end of the four years, the gage could then be renewed for additional four-year periods.