Savings Deposit Bank v. Ellingson
North Dakota Supreme Court
Appeal from the District Court of Mountrail County, Frank E. Fisk, Judge. Each of th'e instalment payments covered by a mortgage shall be deemed as a separate and independent mortgage, and the mortgage for each instalment may be foreclosed in the same way and with like effect as though separate mortgages. N. D. Codes 1905, § 7458; Mc-Curdy v. Clark, 27 Mich. 445; Kimmell v. Willard, 1 Dougl. (Mich.) 217. No one instalment in such a mortgage has any preference over the other.
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Appeal from the District Court of Mountrail County, Frank E. Fisk, Judge. Each of th'e instalment payments covered by a mortgage shall be deemed as a separate and independent mortgage, and the mortgage for each instalment may be foreclosed in the same way and with like effect as though separate mortgages. N. D. Codes 1905, § 7458; Mc-Curdy v. Clark, 27 Mich. 445; Kimmell v. Willard, 1 Dougl. (Mich.) 217. No one instalment in such a mortgage has any preference over the other. Cooper v. Ulmann, Walk. Ch. (Mich.) 251; English v. Carney, 25 Mich. 178; Edgar v. Beck, 96 Mich. 419, 56 N. W. 15.…
1Opinion of the CourtBurke, J.
The plaintiff bank was the owner of a promissory note and interest coupons secured by real-estate mortgage. The first instalment of interest being unpaid, foreclosure was begun and the premises bid in by the bank for the sum of $63.90. Some seven months later the bank assigned the said sheriff’s certificate to the defendant Ellingson by an instrument in writing which contained the following clause: “This assignment is made without recourse, . . . and also made subject to the balance of the mortgage not included in foreclosure.” No redemption was made from this sale, and a sheriff’s deed was…
2Cases cited4 opinions
- Grattan v. WigginsCalifornia Supreme Court · 1863
- Bank of England v. TarletonMississippi Supreme Court · 1851
- Dunham v. W. Steele Packing & Provision Co.Michigan Supreme Court · 1894
- Morgan v. KlineSupreme Court of Iowa · 1889
3Cited by3 opinions
- Miami Oil Co. v. Florida Discount Corp.Supreme Court of Florida · 1931
- Federal Land Bank of St. Paul v. SteeleNorth Dakota Supreme Court · 1930
- Federal Land Bank v. SteeleNorth Dakota Supreme Court · 1930