Leonard v. Leonia Heights Land Co.
Supreme Court of New Jersey
On appeal from a decree of the court of chancery advised by Yice-Chancellor Stevenson, whose opinion is reported ante p. 43. Bill to foreclose. The mortgage was given by Edward T. Flood to Edward H. Eyan to secure $6,000. It is dated June 4th, 1904, was recorded June 17th, 1904, and conveyed six vacant lots worth only $3,000, part of -a tract of land which Ryan was developing for sale.
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On appeal from a decree of the court of chancery advised by Yice-Chancellor Stevenson, whose opinion is reported ante p. 43. Bill to foreclose. The mortgage was given by Edward T. Flood to Edward H. Eyan to secure $6,000. It is dated June 4th, 1904, was recorded June 17th, 1904, and conveyed six vacant lots worth only $3,000, part of -a tract of land which Ryan was developing for sale. Ryan assigned the mortgage to Adelia A: Leonard, the complainant, hy assignment dated September, 1904, but not recorded until December 3d, 1910. The complainant paid full value. On April 11th, 1905, Flood…
1Opinion of the Court
The opinion of the court was delivered by
Swayze, J.
The question presented is one of statutory construction. But for the recording acts the complainant’s position would be impregnable. She holds a duly recorded mortgage prior in time to any right of the land company or those claiming under it, and this priority* will be displaced if the'decree is affirmed. There was not only the constructive notice to the defendants by the record of the mortgage, but actual notice to the land! *491company. What was lacking was notice of the assignment from Eyan to the complainant. The proposition of the…
2Cited by12 opinions
- Nigro v. FlinnSuperior Court of Delaware · 1937
- First National Bank of Boston v. Larson (In Re Kennedy Mortgage Co.)United States Bankruptcy Court, D. New Jersey · 1982
- Emc Mortg. Corp. v. ChaudhriNew Jersey Superior Court Appellate Division · 2008
- United States v. Morris C. Goldberg, A/K/A Moe Goldberg, A/K/A M. C. Goldberg, RosesatkoffCourt of Appeals for the Third Circuit · 1966
- Muccio v. CroninNew Jersey Superior Court Appellate Division · 1975
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