Howell v. Ripley
New York Court of Chancery
This was an appeal from a decision of the vice chancellor of the first circuit, relative to the disposition of the rents and profits of mortgaged premises in the hands of a receiver.
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This was an appeal from a decision of the vice chancellor of the first circuit, relative to the disposition of the rents and profits of mortgaged premises in the hands of a receiver. The premises, a house and lot in the city of New-York, were in the first place mortgaged to M. Bailey, for $5000 and interest; they were afterwards mortgaged by Ripley and wife, the then owners of the equity of redemption, to Jackson, who assigned his mortgage to Howell, the complainant in the first suit. Ripley and wife then conveyed the equity of redemption in the premises to Spafford, who again mortgaged them…
1Opinion of the Court
The Chancellor.
I think the vice chancellor erred in supposing that the respondent was entitled to any part of the rents of the premises which became due and were actually collected by the receiver in Holford’s suit previous to the 10th of January. When a receiver is appointed in a suit he is appointed for the benefit of such of the parties in that suit as it shall afterwards appear were entitled to the fund in controversy ; but not for the benefit of strangers to the suit. If the receivership interferes with the right of a stranger, he may apply to the court to be heard fro interesse suo ;…
2Cited by43 opinions
- Compton v. JesupCourt of Appeals for the Sixth Circuit · 1895
- Ellis v. Boston, Hartford & Erie RailroadMassachusetts Supreme Judicial Court · 1871
- Haas v. Chicago Building SocietyIllinois Supreme Court · 1878
- Ranney v. PeyserNew York Court of Appeals · 1880
- Cross v. Will County National BankIllinois Supreme Court · 1898
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