Commissioners of the United States Deposit Fund v. Chase
New York Supreme Court
Ejectment for the recovery of lands situate in the county of Otsego. On the 22d of July, 1837, Jesse Rose mortgaged several parcels of land, comprising improved and unimproved lots, to the commissioners of the United States deposit fund for the county of Otsego, to secure the payment of a loan of $2000. In 1843, default was made in the payment of interest, and the premises were sold on the 6th of February, 1844, and bid off by Rose at $2296,69. On the same day, $2000' was…
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Ejectment for the recovery of lands situate in the county of Otsego. On the 22d of July, 1837, Jesse Rose mortgaged several parcels of land, comprising improved and unimproved lots, to the commissioners of the United States deposit fund for the county of Otsego, to secure the payment of a loan of $2000. In 1843, default was made in the payment of interest, and the premises were sold on the 6th of February, 1844, and bid off by Rose at $2296,69. On the same day, $2000' was loaned to Rose, and he executed a new mortgage on the same premises, to secure its' payment. Default was again made' in…
1Opinion of the Court
By the Court, Morehouse, J.
By the act authorizing a loan of the moneys of the United States deposited with the state for safe keeping, (Laws of 1837, p. 121, § 30,) it is provided that if the borrower neglects to pay the yearly interest within the time limited, the commissioners “ shall be seised of an absolute and indefeasible estate in fee in the mortgaged premises to them, their successors and assigns, to the uses in the act mentioned, and the mortgagor, his or her heirs and assigns, shall be utterly foreclosed and barred of all equity of redemption of the mortgaged premises, &c. but the…
2Cases cited3 opinions
- Head & Amory v. Providence Ins. Co.Supreme Court of the United States · 1804
- Jackson ex dem. Limerick v. VoorhisNew York Supreme Court · 1812
- Brown v. WilburNew York Supreme Court · 1832
3Cited by14 opinions
- Buchanan v. City of BolivarCourt of Appeals for the Sixth Circuit · 1996
- Nancy Buchanan v. City Of Bolivar, TennesseeCourt of Appeals for the Sixth Circuit · 1996
- United States v. Theodore Edmonds, in No. 93-1890. United States of America v. Lorenzo Duncan, A/K/A Tariq Lorenzo Duncan, in No. 93-1914. United States of America v. Carlton Love, in No. 93-1920. United States of America v. Cora Love, in No. 93-1947Court of Appeals for the Third Circuit · 1995
- Bieros v. NicolaDistrict Court, E.D. Pennsylvania · 1994
- Olmstead v. . ElderNew York Court of Appeals · 1851
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