Wheelwright v. Loomer
New York Court of Chancery
Bill and Cross-bill. On the first day of May, one thousand eight hundred and thirty-seven, Otis Loomer and' Jane T. his wife made and executed to Paul Spafford, Thomas Tileston and the complainant Benjamin Wheelwright a mortgage on lots ]mown as Nos. 187 and 189, Pearl street, New York, and Nos. 1, 2, 3, 5 and 7 Cedar street, in the same city, for securing the payment of a bond for twenty-five thousand dollars and interest.
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Bill and Cross-bill. On the first day of May, one thousand eight hundred and thirty-seven, Otis Loomer and' Jane T. his wife made and executed to Paul Spafford, Thomas Tileston and the complainant Benjamin Wheelwright a mortgage on lots ]mown as Nos. 187 and 189, Pearl street, New York, and Nos. 1, 2, 3, 5 and 7 Cedar street, in the same city, for securing the payment of a bond for twenty-five thousand dollars and interest. Recorded the third day of May, one thousand eight hundred and thirty-seven. These premises were the individual property of the defendant Otis Loomer. On the same day, the…
1Opinion of the Court
The Vice-Chancellor :
Although Mr. Depeyster had not notice in fact of the existence of Wheelwright’s mortgage, yet he had notice in law, from the circumstance of its prior registry, and must be deemed to have taken his mortgage, at the time, as the subordinate incumbrance upon the lot in question ; and unless something has occurred since the giving of the Depeyster mortgage to displace the priority and preference which belonged to Mr. Wheelwright’s security, such priority must still be preserved.
If the question were between these two mortgagees only and the rights of no other person were…
2Cases cited2 opinions
- Jackson ex dem. Merrick v. PostNew York Supreme Court · 1836
- Guion v. KnappNew York Court of Chancery · 1836
3Cited by5 opinions
- Assets Realization Co. v. HowardNew York Supreme Court · 1911
- Assets Realization Co. v. HowardNew York Supreme Court · 1911
- Gage v. McGregorSupreme Court of New Hampshire · 1881
- Assets Realization Co. v. HowardNew York Supreme Court · 1911
- George v. WoodMassachusetts Supreme Judicial Court · 1864