Folsom v. Lockwood
Supreme Court of Minnesota
APPEAL PROM THE DISTRICT COURT OP RAMSEY OOUNTY. This action was brought to foreclose a mortgage executed by the Appellant, Eolsom, to the Eespondent.
Read the full summary
APPEAL PROM THE DISTRICT COURT OP RAMSEY OOUNTY. This action was brought to foreclose a mortgage executed by the Appellant, Eolsom, to the Eespondent. The complaint contained the usual allegations, and set out certain proceedings which had been taken to collect the amount due on the mortgage, substantially as follows: that by virtue of a power of sale in the mortgage contained, the mortgagee had attempted to foreclose the same under the statute, by notice duly given, &c., and that at the sale under the notice and power, the mortgaged premises had been sold in one tract or parcel, (tbe…
1Opinion of the Court
By the Gowrl
— Emmjjtt, C. J.
— When a mortgage is given to secure the payment of money, it is the debt itself that is *190secured, and not the note or other instrument by which it may be evidenced. Hence the general rule that the lien of the mortgage lasts as long as the debt; and that nothing but actual payment of the debt, or an express release, will operate as a discharge of the mortgage. 1 Hill, on Mortgages, 448-9, sec. 4.
There is nothing in this case to exempt it from the operation of this rule. The action is brought to foreclose the mortgage, and the mortgagee states in his complaint that…
2Cases cited1 opinion
- Curtis v. MooreSupreme Court of Minnesota · 1859
3Cited by6 opinions
- State v. Marsh.Supreme Court of North Carolina · 1903
- State v. BaganSupreme Court of Minnesota · 1889
- Jackson v. StateSupreme Court of Georgia · 1902
- Lash v. McCormickSupreme Court of Minnesota · 1871
- State Ex Rel. Guren v. GrimesSupreme Court of Minnesota · 1955
1 more not listed; retrieve them via the Exa API.