McCullum v. Turpie
Indiana Supreme Court
APPEAL from the White Common Pleas. This was a suit to foreclose a mortgage on certain real estate, executed hy John Shidler to Mary Imes, on the 20th of January, 1865, to secure a note of the same date for twelve hundred dollars, payable four years after date, with interest from date, payable annually.
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APPEAL from the White Common Pleas. This was a suit to foreclose a mortgage on certain real estate, executed hy John Shidler to Mary Imes, on the 20th of January, 1865, to secure a note of the same date for twelve hundred dollars, payable four years after date, with interest from date, payable annually. On the 1st of February, 1865, Shidler sold and conveyed a part of the mortgaged premises to the-appellant, McCullum, for eight hundred dollars, which he agreed to pay on the note of Shidler, secured by the mortgage in suit. It was at first agreed between the parties that McCullum should assume…
1Opinion of the CourtElliott, J.
The only question-presented in the ease is, as to the correctness of the finding- and judgment. of the court, in requiring the part of the mortgaged premises sold by Shidler to McCullum to be first sold for- eight hundred dollars and its interest, of the-note secured by the mortgage to Mrs. Imes.
Where lands incumbered1 by a mortgage are sold by the mortgagor in parcels, at different times, and paid for by the purchasers, the equitable-rule is, that the several parcels are to be made liable to the payment of the mortgage in the inverse order of their' sale, so that the p.areel last sold is…
2Cited by6 opinions
- Aurora National Bank v. BlackIndiana Supreme Court · 1891
- Cain v. HannaIndiana Supreme Court · 1878
- Bowen v. LingleIndiana Supreme Court · 1889
- Diamond Flint Glass Co. v. BoydIndiana Court of Appeals · 1903
- Jenkins v. CraigIndiana Court of Appeals · 1898
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