Schatt v. Grosch

The Chancellor.

The questions presented for decision are, whether the-building and loan association, which is the holder of a mortgage subsequent to those of the complainant, is entitled to priority over the latter for money paid for taxes assessed upon the mortgaged premises by the city of Elizabeth subsequently to the making of the complainant’s mortgages; and, if so, what rate of interest the money should hear. The complainant’s mortgages are dated January 1st, 1872. One is for $4,500 and interest, and the other for $600 with interest. The former was recorded January 20th, 1872, and the…