Tufts v. Stanley
Supreme Court of Iowa
Appeal from Iowa Circuit Court. On the 28th day of January, 1868, J. G. IToplrinson, being the owner of 200 acres of land in Iowa county, executed a mortgage thereon to the State-University for $400; and March 9,1868, he executed another mortgage on the same land to S. C. Tofts, plaintiff herein, to secure $840 and interest. On the 28th day of November, 1868, ITopkinson conveyed forty acres of said land to Perry ITopkinson.
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Appeal from Iowa Circuit Court. On the 28th day of January, 1868, J. G. IToplrinson, being the owner of 200 acres of land in Iowa county, executed a mortgage thereon to the State-University for $400; and March 9,1868, he executed another mortgage on the same land to S. C. Tofts, plaintiff herein, to secure $840 and interest. On the 28th day of November, 1868, ITopkinson conveyed forty acres of said land to Perry ITopkinson. On the 30th day-of May, 1871, said J. G. ITopkinson executed a mortgage on the remaining 160 acres of said land to one Pritchard to secure $750 and interest, and said…
1Opinion of the CourtRothrock, J.
No question is made upon the finding and decision of the court deducting the rents and profits from the amount necessary to redeem. The simple question presented is, did the court err in deducting the proportionate value of the forty acres released by plaintiff from the burden of his mortgage?
1. MORTGAGE: sale of property: contribution It is well settled in this State, that where encumbered real estate is subsequently sold by the mortgagor in jjarcels to different purchasers, each must contribute proportionto the discharge of the encumbrance, and not in the inverse order of the sale. Barney…
2Cases cited1 opinion
- Barney v. MyersSupreme Court of Iowa · 1870
3Cited by1 opinion
- Witt v. RiceSupreme Court of Iowa · 1894