Bacon v. Van Schoonhoven
New York Supreme Court
Appeal from a judgment entered upon the trial of tbis action by the court, without a jury. Grodus D. Smith and Samuel W. Smith mortgaged to Matthew Owens, the premises described in th'c complaint, for $3,500. 'The mortgage was dated the 10th day of October, 1866, and was recorded in the office of the clerk of the county of Saratoga, on the 15th day of October, 1866. Matthew Owens, by written assignment, dated July 5, 1867, assigned the bond and mortgage to William C. Smith,…
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Appeal from a judgment entered upon the trial of tbis action by the court, without a jury. Grodus D. Smith and Samuel W. Smith mortgaged to Matthew Owens, the premises described in th'c complaint, for $3,500. 'The mortgage was dated the 10th day of October, 1866, and was recorded in the office of the clerk of the county of Saratoga, on the 15th day of October, 1866. Matthew Owens, by written assignment, dated July 5, 1867, assigned the bond and mortgage to William C. Smith, and William C. Smith, by written assignment, dated. October 1, 1868, assigned the same bond and mortgage to the…
1Opinion of the Court
Learned, P. J.:
A mortgagee may discharge the land from the lien of the mortgage by executing a quit claim deed to the mortgagor. That is the usual course, when a part only of the land is to be released. Let us suppose then that Owens, under circumstances similar to those stated in this case, had executed, to Gxadus D. Smith, a release of a part of the land, which release was recorded; and that, thereupon, Van Schoonhoven had lent Smith money, and had taken and recorded a mortgage, in good faith, on the land so released. Van Schoonhoven would have been a “purchaser,” under the recording act,…
2Cases cited3 opinions
- Vanderkemp v. SheltonNew York Court of Chancery · 1844
- Belden v. . MeekerNew York Court of Appeals · 1872
- Belden v. MeekerNew York Supreme Court · 1870