John Hancock Mutual Life Insurance v. Grandy

The opinion of the court was delivered by

Thiele, J.:

The present appeal presents the question whether a holder of a certificate of purchase of real estate issued in a mortgage foreclosure action may retain the consideration received by it *688for the execution of an oil and gas lease under the facts as hereafter set forth and concerning which there is no dispute.

Following a judgment in an action to foreclose a mortgage on real property a sheriffs sale was had on December 30, 1940, and later duly confirmed, and a certificate of purchase was issued, which on March 24, 1941, was assigned to the…