Findlay v. Hosmer
Supreme Court of Connecticut
in error. THIS was an appeal from a decree of the court of probate for East-Haddam district, making distribution of the estate °f Curtis, represented insolvent, to his creditors. had purchased a tract of land of Stephen Hosmer, the appellant; and to secure payment of the purchase money, they gave him their joint promissory notes, and a mortgage of the land. Hosmer exhibited these notes to the commissioners on Curtis’ estate, as a debt against that estate.
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in error. THIS was an appeal from a decree of the court of probate for East-Haddam district, making distribution of the estate °f Curtis, represented insolvent, to his creditors. had purchased a tract of land of Stephen Hosmer, the appellant; and to secure payment of the purchase money, they gave him their joint promissory notes, and a mortgage of the land. Hosmer exhibited these notes to the commissioners on Curtis’ estate, as a debt against that estate. They allowed the claim, and made their report accordingly. The whole amount of debts against the estate, found due and reported by the…
1Opinion of the Court
Swift, Ch. J.
A mortgagee has a right to pursue all his remedies till he has obtained satisfaction of his debt; but it will never be permitted that he should obtain more than his debt. The notes collaterally secured by the mortgage, were a proper claim against the estate*; and the commissioners wero bound to allow them as a debt. When the estate of the deceased insolvent debtor is sold, the equity of redemption must be sold ; and in ascertaining the value, the amount of the mortgage money is to be considered, deducting from it the probable average that the insolvent estate will pay. If the…
2Cited by27 opinions
- Harrigan v. GilchristWisconsin Supreme Court · 1904
- Chemical Nat. Bank v. ArmstrongCourt of Appeals for the Sixth Circuit · 1893
- People v. E. Remington & SonsNew York Court of Appeals · 1890
- In re BatesIllinois Supreme Court · 1886
- In re Waddell-Entz Co.Supreme Court of Connecticut · 1896
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