The Encumbered Estates Act of 1848 and 1849 allowed for the sale of Estates which  were encumbered by debt. There was no protection for the tenants.
By 1856 5,000,000 acres had been sold off.

Encumbered Estate of Peter Gale Esqr.
 Barony of Slievemargy

Lands of Lisbigney in Barony of Cullinagh, Queen's County. 
Owners Franceska STOCK (widow) & Henrietta Frances STOCK (spinster)
To be sold - January 1851

Source: FHL# 0258813
Rentals of Encumbered Estates
FHL catalog description: Microfilm of original records at the Belfast Record Office.

 

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