Norton v. Stone
New York Court of Chancery
This was an appeal from a decision of the vice chancellor of the eighth circuit, relative to the surplus moneys raised upon the foreclosure and sale of mortgaged premises which were sold under the decree in this cause. The premises originally belonged to Norton, the complainant, who sold the same to the defendant Stone in 1834, and took back the mortgage which was foreclosed in this suit, to secure the payment of the purchase money.
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This was an appeal from a decision of the vice chancellor of the eighth circuit, relative to the surplus moneys raised upon the foreclosure and sale of mortgaged premises which were sold under the decree in this cause. The premises originally belonged to Norton, the complainant, who sold the same to the defendant Stone in 1834, and took back the mortgage which was foreclosed in this suit, to secure the payment of the purchase money. Upon the sale under this decree, in June, 1839, the premises sold for $416,82 more than the complainant’s debt and costs; which surplus was claimed by L. C.…
1Opinion of the Court
The Chancellor.
It is stated in the report of the master that Woodruff, the appellant, procured the assignment of this second instalment on the Paige bond and mortgage to be made to Rosseter. But it does not appear that such assignment was held by Rosseter, or by any of the subsequent assignees, in trust for the appellant. On the contrary, the first, as well as the subsequent assignment, appears to be an assignment for the sole benefit of the assignee. The appellant can claim no interest in the surplus moneys, therefore, except such as he is entitled to under the last assignment, and. which…
2Cited by4 opinions
- Voorhees v. Presbyterian ChurchNew York Supreme Court · 1853
- Gould v. GouldNew York Supreme Court · 1889
- Safford v. HyndsNew York Supreme Court · 1862
- Livingston v. MillerNew York Supreme Court · 1859