Gammon v. . Johnson
Supreme Court of North Carolina
; Foreclosure Proceedings instituted by the plaintiff, as assignee of J. W. Sherrod & Bro., of a note secured by deed of trust executed by defendant, March 25, 1887, in the sum of $1,350, with interest from date, at 8 per cent, heard before Bowman, J., at October Term, 1899, of Edgecombe Superior Court. The sale had tahen place and was reported by the Commissioner at the sum of $2,7 60, as a 'fair price for the land, with a recommendation for confirmation.
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; Foreclosure Proceedings instituted by the plaintiff, as assignee of J. W. Sherrod & Bro., of a note secured by deed of trust executed by defendant, March 25, 1887, in the sum of $1,350, with interest from date, at 8 per cent, heard before Bowman, J., at October Term, 1899, of Edgecombe Superior Court. The sale had tahen place and was reported by the Commissioner at the sum of $2,7 60, as a 'fair price for the land, with a recommendation for confirmation. At this term of the Court, F. S. Royster, administrator of O. 0. Farror, filed a petition for leave to' intervene; alleging that his…
1Opinion of the CourtClark, J.
In general all incumbrancers, whether prior o' subsequent incumbrancers, as well as the mortgagor, should be parties to a proceeding for foreclosure, and judgment creditors as well as mortgagees. Hinson v. Adrian, 86 N. C.,, 61; LeDuc v. Brandt, 110 N. C., 289. This is because the. liens, by the sale, are transferred from the corpus to the fund into which it is converted, with their respective priorities preserved and to be asserted in the decree for distribution. Cannon v. Parker, 81 N. C., 320. “In effect the lien of a docketed judgment is in the nature of a stautory mortgage”' (Gambrill v.…
2Cases cited8 opinions
- Pitt v. . MooreSupreme Court of North Carolina · 1888
- Merritt Milling Co. v. FinlaySupreme Court of North Carolina · 1892
- W. F. Kornegay & Co. v. Farmers & Merchants' Steamboat Co.Supreme Court of North Carolina · 1890
- Baruch v. . LongSupreme Court of North Carolina · 1895
- Cannon v. . ParkerSupreme Court of North Carolina · 1879
3 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- City of Raleigh v. EdwardsSupreme Court of North Carolina · 1951
- Jones v. . WilliamsSupreme Court of North Carolina · 1911
- Bernard v. Shemwell.Supreme Court of North Carolina · 1905
- Guy v. . HarmonSupreme Court of North Carolina · 1933
- Beaufort County v. . MayoSupreme Court of North Carolina · 1934
15 more not listed; retrieve them via the Exa API.