Scull v. Idler
New Jersey Court of Chancery
On bill to foreclose mortgage. Hearing on bill and answer. The bill is filed to foreclose a mortgage made to complainants’ testator by defendants Lncretia P. Idler and Charles. A. Idler. By an averment of the bill, hereinafter quoted, it appears that subsequent to the date of the record of complainants’ mortgage the mortgaged premises were conveyed by the mortgagors to defendant Howard P. Idler.
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On bill to foreclose mortgage. Hearing on bill and answer. The bill is filed to foreclose a mortgage made to complainants’ testator by defendants Lncretia P. Idler and Charles. A. Idler. By an averment of the bill, hereinafter quoted, it appears that subsequent to the date of the record of complainants’ mortgage the mortgaged premises were conveyed by the mortgagors to defendant Howard P. Idler. The mortgagors are made defendants under an averment of the bill to the effect that notwithstanding the conveyance to their son, defendant Charles A. Idler, they may have retained an interest in the…
1Opinion of the Court
Beaming, Y. C.
It has been repeatedly held by the courts of this state that the purchaser of a mere equity of redemption in premises covered by a usurious mortgage, who buys subject ce the lien of such mortgage, cannot set up usury as a defence to the encumbrance; the repudiation of the mortgage by such purchaser would enure to his benefit against the terms of his purchase, and would not enure to the benefit of the original borrower. In Warwick v. Dawes, 26 N. J. Eq. (11 C. E. Gr.) 548, 556, this principle was applied where the purchase was made at a sale under a decree of foreclosure of a…
2Cases cited5 opinions
- De Wolf v. JohnsonSupreme Court of the United States · 1825
- Green v. KempMassachusetts Supreme Judicial Court · 1816
- Shufelt v. ShufeltNew York Court of Chancery · 1841
- Post v. DartNew York Court of Chancery · 1841
- Morris v. FloydNew York Supreme Court · 1849
3Cited by4 opinions
- Usbe Bldg. v. Ocean Pier RealtyNew Jersey Court of Chancery · 1933
- Berk v. Isquith Productions, Inc.New Jersey Court of Chancery · 1925
- Heilos v. State Land Co.New Jersey Court of Chancery · 1933
- Goldberg v. FisherSupreme Court of New Jersey · 1933