Martin v. Ward
Supreme Court of Arkansas
Appeal from Pulaski Chancery Court. David W. Carrodl, Chancellor. The provisions of secs. 4759-60 of Mansf. Dig. are broad enough to apply to foreclosure sales under decrees in chancery. The language is: “At all sales of real estate under mortgages and deeds of trust,” etc. Sec. 4759, Mansf. Dig., does not apply to a foreclosure sale in a court of chancery. It only applies to sales by the mortgagee or trustee.
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Appeal from Pulaski Chancery Court. David W. Carrodl, Chancellor. The provisions of secs. 4759-60 of Mansf. Dig. are broad enough to apply to foreclosure sales under decrees in chancery. The language is: “At all sales of real estate under mortgages and deeds of trust,” etc. Sec. 4759, Mansf. Dig., does not apply to a foreclosure sale in a court of chancery. It only applies to sales by the mortgagee or trustee. When the sale is ordered by the court, the court is the seller, and the sale is not under the mortgage. Jones, on Mortg. sec. 1882; 23 Ark. 39-41. This court has held that there was no…
1Opinion of the CourtRiddick, J.
1. Rightto redeem from “°s^|fefore' The only question in this case is ^ A
whether a right of redemption remains to the mortgagor of real estate after a decree of foreclosure and a sale of the mortgaged property thereunder. In the absence of a statute giving this right to the mortgagor, his equity of redemption is barred by the decree and sale. The object of the proceeding to foreclose is to cut off the equity of redemption which exists in the mortgagor, and a sale under a valid decree of foreclosure must have this effect unless the legislature has extended the right of the mortgagor, so that…
2Cases cited2 opinions
- Vaughan v. MarableSupreme Court of Alabama · 1879
- Beard v. WilsonSupreme Court of Arkansas · 1889
3Cited by6 opinions
- Planters' Mutual Insurance v. LoydSupreme Court of Arkansas · 1900
- Priddy & Chambers v. SmithSupreme Court of Arkansas · 1912
- Tim Wargo & Sons, Inc. v. Equitable Life Assurance Society of the United StatesCourt of Appeals of Arkansas · 1991
- Lambright v. BalesSupreme Court of Arkansas · 1919
- Bentley v. ParkerSupreme Court of Arkansas · 1975
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