Shannon v. Marselis
New Jersey Court of Chancery
John Marselis and Harman Marselis, being seized of two lots of land in the township of Aquackcnonck, and county of Essex, one containing six acres and forty hundredths of an acre, and the other thirty-two hundredths of an acre, mortgaged them both to John Marselis, on the 1 st day of September, 1821, for three hundred and sixty-five dollars.
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John Marselis and Harman Marselis, being seized of two lots of land in the township of Aquackcnonck, and county of Essex, one containing six acres and forty hundredths of an acre, and the other thirty-two hundredths of an acre, mortgaged them both to John Marselis, on the 1 st day of September, 1821, for three hundred and sixty-five dollars. On the loth May, 1822, Harman Marselis conveyed his moiety or one half part of both lots, or the equity of redemption therein, to Henry Griffin, for two hundred and nine dollars. On the 1st August, 1823, John Marselis conveyed his moiety ©r one half part…
1Opinion of the Court
The Chancellor.
There can be no difficulty or question as to the right of recovery on the part of the complainant, so far as the first mortgage is concerned. That mortgage covers the whole property, which is abundantly able to satisfy it. The question is, in what way shall it be satisfied, consistently with the equitable rights of third persons having subsequent vested interests.
Carrick, one of the defendants, owning the six acres and forty hundredths of an acre lot, contends that the first mortgage should be raised or satisfied out of the smaller lot, to the exclusion of the larger; and that…
2Cases cited2 opinions
- Scott v. ShreeveSupreme Court of the United States · 1827
- United States v. SturgesU.S. Circuit Court for New York · 1826
3Cited by7 opinions
- Curtiss-Warner Corp. v. ThirkettleNew Jersey Court of Chancery · 1926
- Dieckmann v. WalserNew Jersey Court of Chancery · 1932
- Bajek v. PolackNew Jersey Court of Chancery · 1936
- Stuyvesant Security Co. v. DreyerNew Jersey Court of Chancery · 1928
- Davenport v. O'ConnellNew Jersey Court of Chancery · 1935
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