Clark v. Jackson
Supreme Court of New Hampshire
Writ of Entry, on a mortgage of lands in Rindge, dated March 81, 1881, to secure notes of that date amounting to $5,000. Facts agreed. On the same day a mortgage of certain lands in Massachusetts was given to secure the same notes.
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Writ of Entry, on a mortgage of lands in Rindge, dated March 81, 1881, to secure notes of that date amounting to $5,000. Facts agreed. On the same day a mortgage of certain lands in Massachusetts was given to secure the same notes. The mortgagor, a resident and citizen of Massachusetts, was declared insolvent under the laws of that state, and his assignees, on the 24th of June, 1884, sold at auction his equity of redemption to the plaintiff, who bid off the same for a nominal sum, because he believed that to be the least expensive way of foreclosing his mortgage. The value of the mortgaged…
1Opinion of the CourtBlodgett, J.
For the purposes of this case it is agreed that the value of the Massachusetts lands was much less than the amount of the mortgage debt, and that the plaintiff purchased the equity of redemption for a nominal sum at the auction sale by the mortgagor’s assignee in insolvency, “because he believed that to be the least expensive way of foreclosing his mortgage.” Under these circumstances, and as against those lands, the union of the titles of the mortgagor and mortgagee undoubtedly became perfected in the latter, and his remedy exhausted, but the mortgage debt was neither satisfied in fact nor…
2Cases cited8 opinions
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- Walker, Smith & Co. v. BaxterSupreme Court of Vermont · 1854
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- Fish v. HarrisonNew Jersey Court of Chancery · 1917
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