Governeur v. Lynch
New York Court of Chancery
This was a bill of foreclosure. The defendant Lynch gave á mortgage upon a large trapt of land, part of which was under contracts for sale previous to the date of the mortgage. The purchasers at the date of the mortgage were in. possession and had paid considerable portions- of the purchase ■ money. They have since paid the residue to the mortgágor. Other parts of the lands were afterwards sold to various other persons who are made defendants in this suit.
1Opinion of the Court
The Chancellor.
Where lands belonging to several persons are covered by a mortgage given by the person from whom they all derive their titles, the lands last s.old by him ' are first liable to satisfy the incumbrance ; and the several • parcels must be sold by the master in the inverse order of their alienation. Where the purchase money has been paid in good faith, the first purchaser has the prior equity, although the consideration was not actually paid until after other portions of the lands had been purchased and paid for by the vendee.
■ If a vendee is in possession of land, under a…
2Cited by41 opinions
- Brown v. . VolkeningNew York Court of Appeals · 1876
- Phelan v. . BradyNew York Court of Appeals · 1890
- Barnes v. . MottNew York Court of Appeals · 1876
- Ingalls and Stockman v. . MorganNew York Court of Appeals · 1854
- Pell v. McElroyCalifornia Supreme Court · 1868
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