Bartlett v. Wade
Supreme Court of Vermont
Bill for the foreclosure of a mortgage. Heard at the September term, 1893, Rutland county, upon the pleadings and a master’s report. Tyler, chancellor, deci'eed fro forma for the oratxdx in the sum of five hundred fifty dollars and eighty-seven cents, being the amount due September 12, 1893, upon the five notes held by her. The defendant appeals.
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Bill for the foreclosure of a mortgage. Heard at the September term, 1893, Rutland county, upon the pleadings and a master’s report. Tyler, chancellor, deci'eed fro forma for the oratxdx in the sum of five hundred fifty dollars and eighty-seven cents, being the amount due September 12, 1893, upon the five notes held by her. The defendant appeals. November 14, 1885, John Tiernan and wife executed the mortgage described in the bill of complaint to the defendant Wade to secure the payment of eighteen promissory notes described in said mortgage. Subsequent to the execution of the mortgage, and…
1Opinion of the CourtMunson, J.
It is the settled law of this state that when a part of the notes secured by a mortgage are assigned, without any contract provision in regard to the security, a proportionate interest in the mortgage passes with the notes by operation of law. Keyes v. Wood, 21 Vt. 331; Blair v. White, 61 Vt. 110. This doctrine, as enunciated in the cases cited, is clearly inconsistent with any claim of advantage based upon the order in which the notes mature. The holding is not merely that the notes transferred remain secured upon the property, but that they continue to sustain the same relation to the…
2Cases cited4 opinions
- Keyes v. Wood, Grant & Co.Supreme Court of Vermont · 1849
- Wells v. TuckerSupreme Court of Vermont · 1884
- Collins v. Adams's ExecutorsSupreme Court of Vermont · 1881
- Blair v. WhiteSupreme Court of Vermont · 1888
3Cited by1 opinion
- Vincent v. VincentSupreme Court of Vermont · 1941