Powers v. Golden Lumber Co.
Michigan Supreme Court
Appeal from Oceana. ¿ Bill to enforce a lien for redemption from a mortgage and to foreclose against subsequent encumbrancers and purchasers. Defendants appeal.
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Appeal from Oceana. ¿ Bill to enforce a lien for redemption from a mortgage and to foreclose against subsequent encumbrancers and purchasers. Defendants appeal. J A person who redeems from a mortgage becomes in equity an assignee of it and may enforce the lien thereof, Mattison v. Marks 31 Mich. 421; Sager v. Tapper 35 Mich. 134; Lamb v. Jeffrey 41 Mich. 719; Jones on Mortgages § 1086. When a mortgage has been discharged by foreclosure sale and redemption it cannot be again foreclosed, Pardee v. Van Anken 3 Barb. 534; People v. Beebe 1 Barb. 379; redemption extinguishes a mortgage, Johnson v.…
1Opinion of the CourtCampbell, J.
Powers filed a bill for the purpose of enforcing his rights to reimbursement under the redemption of a mortgage, and also to enforce a mortgage of his own against the defendants, who were subsequent encumbrancers and purchasers. Powers held a mortgage on which at the date when his bill was filed there were no arrearages, but an installment was to become due on the 1st of November, 1877, the bill being filed October 11, 1877. • A previous mortgage covering the lands on which he held 'his security had been foreclosed under the statute in 1876, and the time of redemption would have run out July…
2Cases cited1 opinion
- Baker v. PiersonMichigan Supreme Court · 1859
3Cited by12 opinions
- Wadleigh v. PhelpsCalifornia Supreme Court · 1906
- Stewart v. IsbellMichigan Court of Appeals · 1986
- Bank of Three Oaks v. Lakefront PropertiesMichigan Court of Appeals · 1989
- McCreery v. RoffMichigan Supreme Court · 1915
- Heimerdinger v. HeimerdingerMichigan Supreme Court · 1941
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