Porter's Admrx. v. Shattuck's Est.
Supreme Court of Vermont
Appeal Erom Commissioners. Declaration, general and special assumpsit. Pleas, the general issue and Statute of Limitations. Trial by Court at the December Term, 1902, Windsor County, Rowell, C. J., presiding. Pro forma judgment for defendant. Tjhe plaintiff excepted. A note secured by real estate mortgage has vitality for fifteen years, although the remedy on the principal is barred.
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Appeal Erom Commissioners. Declaration, general and special assumpsit. Pleas, the general issue and Statute of Limitations. Trial by Court at the December Term, 1902, Windsor County, Rowell, C. J., presiding. Pro forma judgment for defendant. Tjhe plaintiff excepted. A note secured by real estate mortgage has vitality for fifteen years, although the remedy on the principal is barred. The interest which accrued within six years and thirty days of the death of the maker of the note, is a valid obligation, for the mortgagor is not entitled to his land until he has paid this interest. Actions of…
1Opinion of the CourtStart, J.
The question is whether the Statute of Limitations bars an action for the recovery of interest that accrues on a promissory note secured by mortgage on realty and payable on demand, with interest annually, after the right of action for the recovery of the principal is barred by the statute. The claimant contends that inasmuch as the mortgagee could recover the possession of the mortgaged premises in an action of ejectment or foreclosure proceedings, at any time within fifteen years after the mortgage debt became due, unless the mortgagor paid the mortgage debt within the time fixed by the…
2Cases cited2 opinions
- President of Grafton Bank v. DoeSupreme Court of Vermont · 1847
- Houghton v. TolmanSupreme Court of Vermont · 1902
3Cited by2 opinions
- Hiscock v. HiscockMichigan Supreme Court · 1932
- DiPaolo v. SmithPortage County Probate Court · 1953