Pence v. Armstrong

On Petition for a Rehearing.

Elliott, J.

It is contended in the argument on the petition for a rehearing, that the opinion heretofore pronounced does not correctly lay down the law upon the subject of subrogation. Counsel affirm that a replevin bail upon a personal judgment rendered on a debt secured by mortgage can not be subrogated to the mortgage lien, in cases where the creditor acquires a junior mortgage upon the same property. This position is not tenable.

The general rule is that where a replevin bail pays a judg*205ment, he is entitled to the benefit of all securities held by the creditor.…