McNees v. Swaney
Supreme Court of Missouri
Error to Kansas City Court of Common Pleas. I. ' The purchase by'a mortgagee with power of sale at his own sale, through a third person, does not change the relation of the parties. (Mapps v. Sharpe, 32 111. 13 ; Benham v. Rowe, 2 Cal. 387; Moore v. Titinan, 44 111. 368; Eaton v. Whiting, 3 Pick. "490; Thornton v. Irwin, 43 Mo. 153.) The mortgagee in such case, will still hold the title as security for his debt.
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Error to Kansas City Court of Common Pleas. I. ' The purchase by'a mortgagee with power of sale at his own sale, through a third person, does not change the relation of the parties. (Mapps v. Sharpe, 32 111. 13 ; Benham v. Rowe, 2 Cal. 387; Moore v. Titinan, 44 111. 368; Eaton v. Whiting, 3 Pick. "490; Thornton v. Irwin, 43 Mo. 153.) The mortgagee in such case, will still hold the title as security for his debt. The mortgagor’s only remedy is a bill to redeem, offering to pay the amount found or admitted to be due.. ' (Goldsmith v. Osborne, 1 'Edw. Ch. 560; Schwarz v. Sears, 1 Walk. Ch. 170;…
1Opinion of the CourtWagner, Judge
The real question underlying this case- is whether, after the sale of the mortgaged, premises,, the mortgagor, who .is the plaintiff ..here, still retained the right of redemption. The principle is,.I think, well established that when a power, of sale is contained in a mortgage, and a sale made by virtue of such power, and the mortgagee becomes the .purchaser, the,equity of, redemption still subsists and attaches to.the property in. favor of lh.e mortgagor. And if at, such sale the mortgagee .acquires the title through the agency of a third person, the .title, will not be-in anywise altered,…
2Cases cited1 opinion
- Elliott v. . WoodNew York Court of Appeals · 1871
3Cited by3 opinions
- Ivy v. HoodSupreme Court of Alabama · 1918
- Worley, Receiver v. CarterSupreme Court of Oklahoma · 1912
- Gaines v. AllenSupreme Court of Missouri · 1875