Sullivan Savings Institution v. Young
Supreme Court of Iowa
Appeal from Fremont District Oourt. Action to reform and foreclose a mortgage executed by the defendant Young. The land mortgaged was described as being in range forty-two, whereas, it is, in fact, in range forty-three. The right to the reformation and foreclosure against the defendant Young is not denied.
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Appeal from Fremont District Oourt. Action to reform and foreclose a mortgage executed by the defendant Young. The land mortgaged was described as being in range forty-two, whereas, it is, in fact, in range forty-three. The right to the reformation and foreclosure against the defendant Young is not denied. But, after the execution of the plaintiff’s mortgage, Young executed to the defendant Payne a mortgage upon the land intended to be mortgaged to the plaintiffs, Payne at the time having no knowledge of the mortgage to the plaintiffs. The court held that Payne’s mortgage is paramount, and…
1Opinion of the Court
Adams, Oii. J.
i.mortgage: to secure antecedent «ration. — The mortgage to Payne was given to secure an antecedent debt. The plaintiff claims that, such being the fact, he was not a purchaser for value in such . . , . , . sense as to entitle him m equity to have ins mortgage declared paramount. In support or ins po-
sition he cites Padgett v. Lawrence, 10 Paige, 180; Codington v. Bay, 20 Johns., 637; Root v. French, 13 Wend., 570; Stalker v. McDonald, 6 Hill, 93; Dickerson v. Tillmghast,4: Paige, 215. It is conceded, however, that the authorities are not uniform. What the true rule is in that…
2Cases cited5 opinions
- Coddington v. BayCourt for the Trial of Impeachments and Correction of Errors · 1822
- Root v. FrenchNew York Supreme Court · 1835
- Cary v. . WhiteNew York Court of Appeals · 1873
- Padgett v. LawrenceNew York Court of Chancery · 1843
- Wormer & Sons v. Waterloo Agricultural WorksSupreme Court of Iowa · 1878
3Cited by6 opinions
- Commercial Nat. Bank v. PirieCourt of Appeals for the Eighth Circuit · 1897
- Lahn v. KoepSupreme Court of Iowa · 1908
- Hoskins v. CarterSupreme Court of Iowa · 1885
- Hudson-Houston Lbr. Co. v. First State BankSupreme Court of Oklahoma · 1928
- Cambria Savings Bank v. La NierSupreme Court of Iowa · 1907
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