Shepard v. O'Neil
New York Supreme Court
In Equity. Exceptions to the report of a referee as to the distribution of the surplus moneys arising on the sale of mortgaged premises. O’Neil gave a mortgage dated February 7, 1845, and recorded February 11, 1845, and which was foreclosed by the plaintiff. The decree of foreclosure was made April 26,1848, for $311. The premises were sold on the same day for $610, and bid off by P. Cagger, Esq.
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In Equity. Exceptions to the report of a referee as to the distribution of the surplus moneys arising on the sale of mortgaged premises. O’Neil gave a mortgage dated February 7, 1845, and recorded February 11, 1845, and which was foreclosed by the plaintiff. The decree of foreclosure was made April 26,1848, for $311. The premises were sold on the same day for $610, and bid off by P. Cagger, Esq. Richard Bulger obtained a judgment against O’Neil for $132,57, which was docketed May 9th, 1845, and an execution was issued and the mortgaged premises sold thereon on the 8th of October, 1847, and…
1Opinion of the CourtHand, J.
I believe it is well settled, that by a sale of land on a judgment, the lien of the judgment and the right to redeem are gone. (2 Wend. 298. 4 Cowen, 136. 5 Hill, 228. 1 Denio, 633. 1 Hill, 110. 2 Denio, 344. 10 Paige, 249. 7 Cowen, 21. 1 Barb. S. C. R. 388.) And if the statute giving power to dispose of the surplus money on a mortgage sale, confined the distribution to liens “by judgment or decree,” in the language of the 93d rule, I should not hesitate to declare against the claims of Bulger and Randal, however strong their equity. But the statute is, that the surplus money “ shall be…
2Cases cited8 opinions
- Buchan v. SumnerNew York Court of Chancery · 1847
- Evertsen v. SawyerNew York Supreme Court · 1829
- Russell v. AllenNew York Court of Chancery · 1843
- Post v. ArnotNew York Supreme Court · 1845
- In re FitchNew York Supreme Court · 1829
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3Cited by4 opinions
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