Woodruff v. Mutschler

The Chancellor.

The bill is filed to annul the cancellation of a mortgage on land in Newark, and to re-instate and foreclose the mortgage. The case, briefly stated, is this: The defendant, Henry Osborn, being then the owner of the mortgaged premises, gave the mortgage to Margaretha Mack on the 29th of October, 1869. At the death of the mortgagee the mortgage was a valid, subsisting security, and there were due on it $1,100 of principal, besides $72.50, or thereabouts, of interest. After her death, *36Osborn sold the property to Mutschler for $1,200, stipulating to convey it to him free from the…