Bacon v. Cottrell
Supreme Court of Minnesota
This action, was brought in the District Court for Le Sueur county, to vacate and set aside the foreclosure of a certain mortgage; the recovery of the mortgaged .property from the . purchaser under such foreclosure ; for an accounting for the use of the premises, &c.
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This action, was brought in the District Court for Le Sueur county, to vacate and set aside the foreclosure of a certain mortgage; the recovery of the mortgaged .property from the . purchaser under such foreclosure ; for an accounting for the use of the premises, &c. The cause was tried before a referee, who found, among other things, substantially the following facts : On the 18th day of July, 1857, the plaintiff executed to one Jeremiah Horno a mortgage covering 160 acres of land, situated in said county, to secure the payment of three hundred amd ninety dollars, in one year. On the same…
1Opinion of the Court
Wilson, Ch. J.
By the Court We think the order appealed from should be affirmed. The referee erred in requiring the plaintiff to redeem the Pinney mortgage, as a condition on which only, he would be permitted to redeem that made to Horne. It being settled that a mortgage is a mere lien, or security for the debt, of course the mortgagor’s right to redeem remains until it is barred by the statute of limitations, or by some affirmative action of the mortgagee, and the debt being the principal thing, its payment must cancel the mortgage, which is a mere incident. It is, therefore, provided by our *197s…
2Cases cited1 opinion
- Mickles v. . Dillaye and OthersNew York Court of Appeals · 1858
3Cited by11 opinions
- Beach v. OsborneSupreme Court of Connecticut · 1902
- Caro v. WollenbergOregon Supreme Court · 1917
- Prudential Insurance Co. of America v. A. Enkema Holding Co.Supreme Court of Minnesota · 1936
- Poole, Gilliam & Co. v. JohnsonSupreme Court of Iowa · 1883
- Bray v. ComerSupreme Court of Alabama · 1886
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