Hervey v. Savery
Supreme Court of Iowa
Appeal from Polk Circuit Court. This was an action to foreclose a mortgage. A decree was rendered for' plaintiff, under which the lands were sold upon execution to plaintiff.
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Appeal from Polk Circuit Court. This was an action to foreclose a mortgage. A decree was rendered for' plaintiff, under which the lands were sold upon execution to plaintiff. The Charter Oak Life Insurance Company was a defendant, and a decree by default was rendered against it; subsequent^, upon its petition, the decree as to it was set aside, and a hearing awarded, whereupon the court held, and so decreed, that it had the right, as a junior mortgagee, to redeem the lands sold within a time prescribed. Before the expiration of the time for redemption, as fixed by the decree, the insurance…
1Opinion of the CourtBeck, J.
I. The facts necessary to a clear understanding of this case are as follows: In 1861, Safford Savery executed to Madison Young a mortgage upon two adjacent tracts of land, one of twenty acres, the other of thirteen and one-quarter acres, securing purchase money of the property to-become due in seven years. By a stipulation in the mortgage, Savery was not to be personally liable for the debt, the credit- or. remedy being limited to foreclosure and sale of the land. In 1864, Safford Savery conveyed the land to James G. Savery. In consideration of an extension of time granted by Young, James C.…
2Cases cited1 opinion
- Gelpcke v. BlakeSupreme Court of Iowa · 1863
3Cited by19 opinions
- Long v. ValleauSupreme Court of Iowa · 1893
- McNary v. McNarySupreme Court of Iowa · 1928
- Warren v. ChandlerSupreme Court of Iowa · 1896
- Burnett v. LoughridgeSupreme Court of Iowa · 1893
- Hunt v. GraySupreme Court of Iowa · 1888
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