Fraser v. . Bean
Supreme Court of North Carolina
Civil ACTION, lieard by Montgomery, Judge, on a. case agreed, at Fall Term, 1886, of Burke Superior Court. This action was brought to foreclose a mortgage of real property only, made to secure certain debts therein specified. The mortgage was executed by Archibald Kincaid on the 17th of June, 1873, and the forfeiture therein provided for, happened on the 17th of December of the same year.
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Civil ACTION, lieard by Montgomery, Judge, on a. case agreed, at Fall Term, 1886, of Burke Superior Court. This action was brought to foreclose a mortgage of real property only, made to secure certain debts therein specified. The mortgage was executed by Archibald Kincaid on the 17th of June, 1873, and the forfeiture therein provided for, happened on the 17th of December of the same year. The mortgagor, next after its execution, remained in possession of the land during his life-time, as did his heirs at law ever afterwards, and no part of the mortgage debt was paid by any person. He died…
1Opinion of the Court
Merrimon, J.,
(after stating the facts). In equity, the mortgage of the land in question was simply a security for the debt to the mortgagee, secured by it.
Although the legal title to the land was in the latter, the mortgagor had in his life-time the equitable estate, which he had not disposed of at the time of his death, and which descended to his heirs at law They stood, as to the land and mortgage, in the place of their ancestor, and the plaintiffs’ remedy by a foreclosure of the mortgage, was directly against them, whatever additional remedy they may have against the administrator, and…
2Cited by12 opinions
- Gregg v. WilliamsonSupreme Court of North Carolina · 1957
- Humphrey v. StephensSupreme Court of North Carolina · 1926
- Anrud v. Scandinavian-American BankWashington Supreme Court · 1901
- McGowan v. DavenportSupreme Court of North Carolina · 1904
- Humphrey v. . StephensSupreme Court of North Carolina · 1926
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