Krebs v. Dodge
Wisconsin Supreme Court
APPEAL PROM CIRCUIT COURT, MILWAUKEE COUNTY. The complaint in this action shows that Krebs is the owner of lot 3, in block 11, in the fifth ward of Milwaukee, and in possession and occupancy of the same; that it is worth $5,000 ; that on the 25th of June, 1850, one Barzilla Throop owned the lot; and borrowing money of the State, he mortgaged it to secure the payment of $400 and interest, and then sold it to the plaintiff; that the interest due on the mortgage was paid up to…
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APPEAL PROM CIRCUIT COURT, MILWAUKEE COUNTY. The complaint in this action shows that Krebs is the owner of lot 3, in block 11, in the fifth ward of Milwaukee, and in possession and occupancy of the same; that it is worth $5,000 ; that on the 25th of June, 1850, one Barzilla Throop owned the lot; and borrowing money of the State, he mortgaged it to secure the payment of $400 and interest, and then sold it to the plaintiff; that the interest due on the mortgage was paid up to 1856; that Herman Haertel, a subsequent mortgagee, agreed to pay the interest in 1857, and the complainant was informed…
1Opinion of the Court
By the Court,
DixoN, C. J.
The first and most important question which arises in this case is whether, under the provisions of §§ 87 and 88 of chapter 24 of the statutes of 1849, there was in the first instance a sale of the lot in question to *10the State, and subsequently a re-sale to the defendant, or whether the sale was made to the defendant directly on satisfaction of the mortgage. The latter proposition is very ingeniously and strenuously urged by the counsel for the defendant. The 86th section provides that “ on failure to pay any interest or principal when due, on any such mortgage, the…
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