Mahagan v. Mead
Supreme Court of New Hampshire
Bills in Equity, to determine the order in which parcels of mortgaged land are applicable in satisfaction of the mortgage debt, reported ante 182. June 21,1866, Quimby, seized of land called the Vail tract, consisting of lots A, B, C, D, E, F, G, H, and I, mortgaged the whole to the defendants Mead & Co., and May 7,1868, conveyed to them with warranty lot A. November 22, 1869, she conveyed the entire tract, including lot A, to Mclntire.
Read the full summary
Bills in Equity, to determine the order in which parcels of mortgaged land are applicable in satisfaction of the mortgage debt, reported ante 182. June 21,1866, Quimby, seized of land called the Vail tract, consisting of lots A, B, C, D, E, F, G, H, and I, mortgaged the whole to the defendants Mead & Co., and May 7,1868, conveyed to them with warranty lot A. November 22, 1869, she conveyed the entire tract, including lot A, to Mclntire. Qctober 5, 1870, Mclntire conveyed lot B to Taylor; December 28, 1870, lot C to Cunningham, and January 3, 1871, lot D to Ayer. July 12, 1871, Mead & Co.…
1Opinion of the CourtCarpenter, J.
If a mortgagor makes successive sales of portions of the mortgaged land to different persons, equity requires that the part retained by him be first subjected to the payment of the mortgage debt, and if it is insufficient, that the parcels sold be applied in the inverse order of the sales. Brown v. Simons, 44 N. H. 475. The doctrine is not confined to the case of alienations by the mortgagor; it is equally applicable where conveyances of sep arate parcels to several persons are made with warranty by his grantee. Guion v. Knapp, 6 Paige Ch. 35.
July 12, 1871, Mead & Co. held the unincumbered…
2Cases cited1 opinion
- Guion v. KnappNew York Court of Chancery · 1836
3Cited by2 opinions
- Neely v. WilliamsCourt of Appeals for the Eighth Circuit · 1906
- Staniels v. WhitcherSupreme Court of New Hampshire · 1905