Holridge v. Gillespie
New York Court of Chancery
[ *31 ] THE plaintiff, being possessed of a lease from B. W. and others, of a farm of about 309 acres, (parts of lots 8, 9, and 10, in Crosby’s manor,) dated in November, 1806, for eleven years, subject to an annual rent of 75 dollars, on the 26th of May, 1808, assigned the lease to the defendant Thomas Gillespie.
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[ *31 ] THE plaintiff, being possessed of a lease from B. W. and others, of a farm of about 309 acres, (parts of lots 8, 9, and 10, in Crosby’s manor,) dated in November, 1806, for eleven years, subject to an annual rent of 75 dollars, on the 26th of May, 1808, assigned the lease to the defendant Thomas Gillespie. The assignment was absolute; but the assignee, at the same time, executed a defeasance, declaring that the assignment was made to secure a debt of 74 dollars and 12 cents, due from the plaintiff to Thomas, Gillespie, with interest. Part of the land was cultivated and improved. In…
1Opinion of the Court
The Chancellor.
*33[* 34 ]
*32The bill filed by the plaintiff is in the nature of a bill to redeem, and the plaintiff is entitled to redeem the whole of the premises contained in the lease, and to have the entire advantage of the new lease, on such redemption. The renewed lease enures for the benefit oí the mortgagor. According to the cases of Manlove v. Bale, and of Rakestraw v. Brewer, (2 Vern. 84. 2 P. Wms. 511.) the additional term comes from the same old root, and is subject to the same equity of redemption, otherwise hardship and oppression might be practised upon the mortgagor. It is…
2Cited by14 opinions
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- Thayer v. . LeggettNew York Court of Appeals · 1920
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