Smith v. Simpson
Supreme Court of Arkansas
Appeal from Howard Chancery Court; James D. Shaver, Chancellor; 1. The appellant had the right to redeem. 64 Ark. 576; 744 Id. 143; 113 Id. 332; 140 111. 170. The sale under foreclosure extinguished the lien of the mortgage whether the entire debt secured by the mortgage is satisfied or not.
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Appeal from Howard Chancery Court; James D. Shaver, Chancellor; 1. The appellant had the right to redeem. 64 Ark. 576; 744 Id. 143; 113 Id. 332; 140 111. 170. The sale under foreclosure extinguished the lien of the mortgage whether the entire debt secured by the mortgage is satisfied or not. Black on Judgments, § 479; 76 Fed. 16; 23 Ore. 352; 50 la. 590; 140 111. 170; 65 Ark. 393. 2. Appellant is entitled to redeem upon the payment of the amount of the bid at the foreclosure sale, with, interest, taxes, etc., and is not required to pay the entire mortgage debt, interest, costs, etc. 65 Ark.…
1Opinion of the Court
Hart, J.,
(after stating the facts). (1) The farmers Oil & Fertilizer Company, the junior mortgagee, was not made a party to the foreclosure proceeding instituted by C. N. Simpson, the senior mortgagee. Willoughby Smith, Sr., the plaintiff in this action, purchased at the foreclosure proceeding instituted by the junior mortgagee and had a right to redeem from the first mortgage. Dickinson v. Duckworth, 74 Ark. 138; Allen v. Swoope, 64 Ark. 576: Purcell v. Gann, 113 Ark. 332; Livingston v. New England Mortgage Security Co., 77 Ark. 379; Longino v. Ball-Warren Commission Co., 84 Ark. 521; Turman…
2Cases cited10 opinions
- Turman v. BellSupreme Court of Arkansas · 1891
- Livingston v. New England Mortgage Security Co.Supreme Court of Arkansas · 1906
- Dickinson v. DuckworthSupreme Court of Arkansas · 1905
- Purcell v. GannSupreme Court of Arkansas · 1914
- Wood v. HollandSupreme Court of Arkansas · 1893
5 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- National Surety Corporation v. Inland Properties, Inc.District Court, E.D. Arkansas · 1968
- Farmers Bank & Trust Co. v. Chickasaw Properties, LLC (In re Burrow)United States Bankruptcy Court, E.D. Arkansas · 2013
- Shinn v. BarrieSupreme Court of Arkansas · 1930
- Tollett v. TitsworthCourt of Appeals of Arkansas · 1984
- Warren Cotton Oil & Manufacturing Co. v. SullivanSupreme Court of Arkansas · 1929
3 more not listed; retrieve them via the Exa API.