Smith v. Shay
Supreme Court of Iowa
Appeal from Shelby District Court. This is an action in equity for tbe redemption of lands sold under tbe foreclosure of a mortgage. Tbe facts are as follows: On tbe lltli day of September, 1874, Daniel Burns executed to tbe defendant, Walter Shay, a mortgage on tbe lands in controversy. In J une, 1878, said Burns executed to plaintiffs a mortgage on tbe same lands.
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Appeal from Shelby District Court. This is an action in equity for tbe redemption of lands sold under tbe foreclosure of a mortgage. Tbe facts are as follows: On tbe lltli day of September, 1874, Daniel Burns executed to tbe defendant, Walter Shay, a mortgage on tbe lands in controversy. In J une, 1878, said Burns executed to plaintiffs a mortgage on tbe same lands. Tbe- defendant, Sbay, foreclosed bis mortgage by an action in tbe United States circuit court, and on tbe lltli day of February, 1880, obtained a master’s deed to said lands, in pursuance of sucli foreclosure. Plaintiffs were not…
1Opinion of the Court
Day, Ch. J.
I. The plaintiffs hold and claim under the junior mortgage. They were not made parties to the foreclosure suit of the Shay or senior mortgage. It is conceded by the defendants that their right of redemption was not barred by the decree and sale under the senior-mortgage. It is claimed, however, that their right to redeem is not an absolute one, and that defendants can prevent the exercise of that right by themselves redeeming from plaintiffs. This view was adopted by the court below, and it is, we think, correct. In 2d Jones on Mortgages, 2d Ed., section 1075, it is Sftid: “A…
2Cases cited2 opinions
- Renard v. BrownNebraska Supreme Court · 1878
- Pardee v. Van AnkenNew York Supreme Court · 1848
3Cited by8 opinions
- Portland Mortgage Co. v. Creditors Protective Ass'nOregon Supreme Court · 1953
- McGraw v. Premium Finance Co. of MissouriCourt of Appeals of Kansas · 1981
- Croskey v. PhillipsSupreme Court of Iowa · 2000
- Hutchinson v. WellsSupreme Court of Iowa · 1885
- Jones v. ShaySupreme Court of Iowa · 1887
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