RULES
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Unimproved properties, railroads and utilities (but not buildings) may be sold to any player as a private transaction for any amount the owner can get; however, no property can be sold to another player if buildings are standing on any properties of that colour group. Any buildings so located must be sold back to the bank before the owner can sell any property of that colour group.
Houses and hotels may be sold back to the bank at any time for ONE HALF the original purchase price.
All houses on one colour group must be sold one by one, evenly, in the reverse manner in which they were erected.
All hotels on one colour group may be sold at once, or they may be sold one house at a time (one hotel equals 5 houses) evenly, in reverse of the manner in which they were erected.
MORTGAGES
Unimproved properties, can be mortgaged through the bank at any time. Before an improved property can be mortgaged, all the buildings on all the properties of it's colour group must be sold back to the bank at half price. The mortgage value is printed on each title deed card.
No rent can be collected on mortgaged properties or utilities, but rent can be collected on unmortgaged properties in the same colour group.
In order to lift the mortgage, the owner must pay the bank the amount of the mortgage plus 10% interest. When all the properties of a colour group are no longer mortgaged, the owner may begin building houses again at full price.
The player who mortgages property retains possession of it and no other player may secure it by lifting the mortgage from the bank. However, the owner may sell this mortgaged property to another player at an agreed price. If you are the new owner, you may lift the mortgage at once if you wish by paying off the mortgage and 10% interest to the bank. If the mortgage is not lifted at once, you must pay the bank 10% interest when you buy the property and if you lift the mortgage later you must pay the bank an additional 10% interest as well as the amount of the mortgage.
BANKRUPTCY
You are declared bankrupt if you owe more than you can pay to another player or the bank. If your debt is to another player, you must turn over to that player all that you have of value and retire from the game. In making this settlement, if you own houses or hotels, you must return these to the bank in exchange for money to the extent of one half the original purchase price and this is given to the creditor. If you have mortgaged property you also turn this property over to your creditor but the new owner must at once pay the bank the interest on the loan which is 10% the value of the property. The new owner who does this may then at his/her option pay the principal or hold until some later turn then lift the mortgage. If he/she holds property in this was until a later turn, he/she must pay the interest again upon lifting the mortgage.
Should you owe the bank more than you can pay (because of taxes or penalties) even by selling off buildings and mortgaging property, you must turn over all your assets to the bank. In this case, the bank immediatley sells by auction all property so taken, except buildings. A bankrupt player must immediatley retire from the game. The last player left wins.
MISCELLANEOUS
Money can be loaned to a player only by the bank and then only by mortgaging property. No player may borrow from or lend money to another player.