Frost v. . Yonkers Savings Bank
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court iu the first judicial department, reversing, in part, a judgment in favor of plaintiff, entered upon the report of a referee.
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Appeal from order of the General Term of the Supreme Court iu the first judicial department, reversing, in part, a judgment in favor of plaintiff, entered upon the report of a referee. (Reported below, 8 Hun, 26.) This action was brought to restrain defendant from selling certain premises under a judgment of foreclosure upon a mortgage thereon, and to have the mortgaged premises declared free and discharged from the lien of the mortgage, or that plaintiff be entitled to redeem. The referee found, in substance, the following facts : On the 3d day of July, 1867, one George Thomas recovered a…
1Opinion of the CourtEarl, J.
The plaintiff holds a fourth mortgage, two mortgages intervening between his and defendant’s mortgage. If the defendant is permitted to sell under its judgment of foreclosure, it will destroy plaintiff’s investment; - he will be obliged to raise the money and bid enough to pay all the mortgages and to pay all the expenses of the sale besides. He may thus be subjected to great embarrassment, loss, and damage. That, under such circumstances, he has the right to redeem from the prior mortgage is too well settled to need further discussion now. (2 Story Eq. Jur., § 1023; 4 Kent’s Com. [11th ed.],…
2Cases cited6 opinions
- Kortright v. . CadyNew York Court of Appeals · 1860
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- Carpenter v. . StilwellNew York Court of Appeals · 1854
- Western Insurance Co. of Buffalo v. Eagle Fire InsuranceNew York Court of Chancery · 1828
- Pardee v. Van AnkenNew York Supreme Court · 1848
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- Pittsburg Plate Grass Co. v. LearySouth Dakota Supreme Court · 1910
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