New England Mortgage Security Co. v. Hirsch Bros.
Supreme Court of Alabama
Appeal from the Chancery Court of Russell. Heard before the Hon. JÓhN A. Postee. The bill in this ease was filed May 10, 1890, by Herman Hirsch and Abe Hirsch, suing as partners composing the firm of Hirsch Bros., and sought the foreclosure of a mortgage on lands, executed to them by Thomas H. Moody and his wife, Margaret Moody, on January 15, 1886, and which was filed for record on the same day in the office of the judge of probate of Bussell county.
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Appeal from the Chancery Court of Russell. Heard before the Hon. JÓhN A. Postee. The bill in this ease was filed May 10, 1890, by Herman Hirsch and Abe Hirsch, suing as partners composing the firm of Hirsch Bros., and sought the foreclosure of a mortgage on lands, executed to them by Thomas H. Moody and his wife, Margaret Moody, on January 15, 1886, and which was filed for record on the same day in the office of the judge of probate of Bussell county. The mortgagors, the New England Mortgage Security Company, and others, were made parties defendant to the bill. The New England Mortgage…
1Opinion of the CourtMoCLELLAN, J.
While it is the law that the mere taking of a new note and mortgage, the debt evidenced by the former and the property embraced in the latter being the same, will not discharge or displace the lien of an existing mortgage, it is equally well settled law that where the new transaction involves the payment and satisfaction of the *234first mortgage, the mortgagee’s rights are dominated by intervening liens of third persons, liens acquired subsequent to the execution of the first and prior to the execution of the second mortgage. — Boyd v. Beck, 29 Ala. 703; Helmetag v. Frank, 61 Ala 67; 2 Jones on…
2Cases cited7 opinions
- Smith v. GayleSupreme Court of Alabama · 1877
- Boyd v. BeckSupreme Court of Alabama · 1857
- Cowan & Co. v. SappSupreme Court of Alabama · 1883
- Bolles v. ChaunceySupreme Court of Connecticut · 1831
- Carroll v. CorbittSupreme Court of Alabama · 1877
2 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Drum Standish Commission Co. v. First National Bank & Trust Co.Supreme Court of Oklahoma · 1934
- New England Mortgage Security Co. v. FrySupreme Court of Alabama · 1904
- Farkas v. Third National BankSupreme Court of Georgia · 1910
- Higman v. HumesSupreme Court of Alabama · 1899
- Burns v. BurnsSupreme Court of Alabama · 1933
12 more not listed; retrieve them via the Exa API.