Terre Haute & L. Ry. Co. v. Harrison
Court of Appeals for the Seventh Circuit
Appeal from Ihe Circuit Court of the United Slates for the District of Indiana. The appellant, the Terre Haute & Logansport Railway Company, is the purchaser at foreclosure sale, through Joshua Twing Brooks, of the' property of the Terre Haute & Logansport Railway Company, and as such intervenes in the proceedings for distribution of funds in the hands of the receiver, to procure payment out of a so-called “Logansport Fund” of five-sixths of an installment of interest on a…
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Appeal from Ihe Circuit Court of the United Slates for the District of Indiana. The appellant, the Terre Haute & Logansport Railway Company, is the purchaser at foreclosure sale, through Joshua Twing Brooks, of the' property of the Terre Haute & Logansport Railway Company, and as such intervenes in the proceedings for distribution of funds in the hands of the receiver, to procure payment out of a so-called “Logansport Fund” of five-sixths of an installment of interest on a prior mortgage and two-thirds of the taxes, which were liens against the property at date of sale, but-became due after…
1Opinion of the CourtSeaman, District Judge
The general doctrine is well settled that there is no warranty in judicial sales; that the maxim caveat emptor applies, and the purchaser takes the property without recourse for tax liens or other in-cumbrances or defects in the title. The Monte Allegre, 9 Wheat. 616, 648; Osterberg v. Trust Co., 93 U. S. 424, 428; U. S. v. Duncan, 4 McLean, 607, Fed. Cas. No. 15,003; Fidelity Insurance, Trust & Safe-Deposit Co. v. Roanoke Iron Co., 84 Fed. 744; Ror. Jud. Sales, *911§§ 458, 459. In the argument oí counsel on behalf of the appellant this rule is recognized, but with the assertion that it operates…
2Cases cited3 opinions
- The Monte AllegreSupreme Court of the United States · 1824
- United States v. DuncanU.S. Circuit Court for the District of Illinois · 1850
- Fidelity Insurance, Trust & Safe-Deposit Co. v. Roanoke Iron Co.U.S. Circuit Court for the District of Western Virginia · 1898
3Cited by3 opinions
- First Nat. Bank v. EwingCourt of Appeals for the Fifth Circuit · 1900
- United States v. RizzoSupreme Court of the United States · 1936
- Mercantile Trust Co. v. Tennessee Cent. R.Court of Appeals for the Sixth Circuit · 1923