Washburn v. Tisdale
Massachusetts Supreme Judicial Court
Appeal, by the assignee in insolvency of the estate of Duncan S. Elliott, from a decision of the Court of Insolvency allowing the claim of the plaintiff against said estate.
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Appeal, by the assignee in insolvency of the estate of Duncan S. Elliott, from a decision of the Court of Insolvency allowing the claim of the plaintiff against said estate. Trial in the Superior Court, without a jury, before Thompson, J., who allowed a bill of exceptions, in substance as follows: On July 16, 1868, Duncan S. Elliott executed a mortgage of his real estate to the Bristol County Savings Bank, to secure his promissory note of even date for the sum of $1700. This mortgage contained the usual power of sale. On July 8, 1869, Elliott gave a second mortgage of the same real estate to…
1Opinion of the CourtField, J.
The first mortgagee rightfully sold the mortgaged land, and conveyed it to the purchaser. The plaintiff’s second mortgage was thereby converted into an equitable lien upon the proceeds of the sale, after the payment of the amount due under the first mortgage. The surplus, which amounted to $337.43, was rightfully paid to the plaintiff. While she held a mortgage upon the property of the insolvent debtor, she could proceed only in accordance with the Pub. Sts. e. 157, § 28, but her equitable lien upon the surplus of the proceeds of the sale while it was in the hands of the first mortgagee was…
2Cases cited3 opinions
- Franklin County National Bank v. First National BankMassachusetts Supreme Judicial Court · 1885
- Wilson v. BryantMassachusetts Supreme Judicial Court · 1883
- Smith v. WarnerMassachusetts Supreme Judicial Court · 1882
3Cited by5 opinions
- Atkins v. AtkinsMassachusetts Supreme Judicial Court · 1907
- da Silva v. TurnerMassachusetts Supreme Judicial Court · 1896
- Hale v. LeatherbeeMassachusetts Supreme Judicial Court · 1900
- Johnson v. CobleighMassachusetts Supreme Judicial Court · 1890
- Price v. Hosterman Lumber Co.West Virginia Supreme Court · 1911