Bowne v. . Lynde
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court, in the third judicial department, entered upon an order made September 20, 1881, which affirmed a judgment entered upon a decision of the court on trial at Special Term. This action was brought to foreclose a mortgage executed by defendant Lynde to the New York Mutual Life Insurance Company to secure his bond for the sum of §4,200, which mortgage was assigned to plaintiff.
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Appeal from judgment of the General Term of the Supreme Court, in the third judicial department, entered upon an order made September 20, 1881, which affirmed a judgment entered upon a decision of the court on trial at Special Term. This action was brought to foreclose a mortgage executed by defendant Lynde to the New York Mutual Life Insurance Company to secure his bond for the sum of §4,200, which mortgage was assigned to plaintiff. The controversy was between Lynde and defendant William H. Bowne. The mortgage in suit was executed in July, 1871, it covered two farms, one known as the…
1Opinion of the Court
Andrews, Ch. J.
Upon the sale of the Rossie farm by Lynde to Kelsey, the latter assumed to pay as part o,f the purchase-money, $2,500 of the mortgage to the Mutual Life Insurance Company, which covered the Rossie farm, and the Gro.uverneur farm also owned by Lynde. As the result of this arrangement, the Rossie farm, as between Lynde and Kelsey, was primarily charged in equity with the payment of the mortgage debt assumed by Kelsey. For it is a plain rule of equity that where a purchaser of part of mortgaged premises assumes to pay the mortgage as part of the purchase-money the part of the…
2Cases cited1 opinion
- Russell v. . PistorNew York Court of Appeals · 1852
3Cited by6 opinions
- Compton v. JesupCourt of Appeals for the Sixth Circuit · 1895
- Jager v. VollingerMassachusetts Supreme Judicial Court · 1899
- Clinton v. Buffalo Land Security Co.Appellate Division of the Supreme Court of the State of New York · 1900
- Raines v. New York Press Co.New York Supreme Court · 1895
- Huntley v. RevoirNew York Supreme Court · 1892
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