Pahlman v. Shumway
Illinois Supreme Court
This bill charges that Asher Rossiter and wife made a deed of trust to Shumway, on 12th March, 1857, to secure certain indebtedness and the performance of certain covenants, on lands in School Section Addition to Chicago. The indebtedness was on eight notes, dated 12th March, 1857, each for $2,000, due in twelve months, with interest, and certain taxes and liens were also secured by same deed. It was duly recorded and is made exhibit.
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This bill charges that Asher Rossiter and wife made a deed of trust to Shumway, on 12th March, 1857, to secure certain indebtedness and the performance of certain covenants, on lands in School Section Addition to Chicago. The indebtedness was on eight notes, dated 12th March, 1857, each for $2,000, due in twelve months, with interest, and certain taxes and liens were also secured by same deed. It was duly recorded and is made exhibit. That default being made, on application of Bacon Wheeler, the owner of the indebtedness, on or about 14th March, 1859, Shumway caused the premises to be…
1Opinion of the CourtBreese, J.
The first question presented by this record is, were the judgments against Rossiter, liens upon the equity of redemption, or residuary interest which he had in the land conveyed in trust, or upon the right he had to the surplus of the purchase money, after the payment of the debt secured by the deed of trust ? If they were such liens, then the court very properly appropriated the surplus to their satisfaction. If they were not such liens, then the surplus should have been decreed to the executors of Rossiter, to be distributed among his creditors generally, under the one hundred and fifteenth…
2Cited by1 opinion
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