Wiley, Banks & Co. v. Ewing
Supreme Court of Alabama
Appeal from the Chancery Court of Cherokee. Heard before the Hon. B. B. McCraw. The bill in tbis case was filed by the. appellants on the 14th March, 1868, against W. T. Ewing, Edith Shehan, (who was the widow of John Shehan, deceased,) Thomas Hollingsworth, and George S. Walden; and. sought the redemption of certain lands, which had been mortgaged by said Hollingsworth, at different dates, — first, to D. C. Turrentine, to secure the payment of a debt due to said John…
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Appeal from the Chancery Court of Cherokee. Heard before the Hon. B. B. McCraw. The bill in tbis case was filed by the. appellants on the 14th March, 1868, against W. T. Ewing, Edith Shehan, (who was the widow of John Shehan, deceased,) Thomas Hollingsworth, and George S. Walden; and. sought the redemption of certain lands, which had been mortgaged by said Hollingsworth, at different dates, — first, to D. C. Turrentine, to secure the payment of a debt due to said John Sliekan; and afterwards to said Walden, as trustee, to secure the payment of a debt due to the complainants. All the material…
1Opinion of the Court
PETEES, I.
A deed in trust, for security of the payment of a debt, is to be treated as a mortgage. It is, in fact, a conveyance of an estate, by way of pledge, for the security of a debt, to become void on its payment. — 4 Kent, 147; 1 Hilliard, on Mort. 1, 2, 3; Adams’ Eq. 122 (126). Where there are several mortgages on the same land, all the mortgagees are entitled to the benefit of the security. The first (or senior) mortgagee may foreclose, and sell the land for the payment of his debt; but it is also the right of the second (or junior) mortgagee to redeem from the first, or pay off his…
2Cases cited12 opinions
- Von Hoffman v. City of QuincySupreme Court of the United States · 1867
- Barlow v. LambertSupreme Court of Alabama · 1856
- Cullum v. ErwinSupreme Court of Alabama · 1842
- Gimon v. DavisSupreme Court of Alabama · 1860
- Swift v. EdsonSupreme Court of Connecticut · 1825
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3Cited by14 opinions
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