Peck v. Ormsby
New York Supreme Court
Appeal from special term, Warren county. Action by Daniel Peck and another against John H. Ormsby and others to foreclose two mortgages. Prom a judgment of foreclosure and sale, defendant Ormsby appeals.
1Opinion of the CourtLearned, P. J.
Section 1397 of the Code provides that a lot and buildings, not exceeding in value $1,000, occupied as a residence, designated as a homestead, shall be exempt from sale on execution. This exemption continues for certain times after the death of the owner, and ceases when the property is not used as a residence. Section 1400. The statute does not seem to forbid the owner to sell the property. Perhaps, too, he might sell the fee, subject to the homestead exemption. Section 1402' provides for the case where the value exceeds $1,000, making the lien of a judgment attach to the surplus; but this…
2Cited by2 opinions
- Trustees of the Sailors' Snug Harbor v. Tax CommissionNew York Court of Appeals · 1970
- Folio v. BriggsNevada Supreme Court · 1983