Crane v. Stiger
New York Supreme Court
Appeal from an order of the special term directing a resale of property previously sold under a decree of foreclosure. The plaintiff was, in 1870, the owner of five houses and lots in Warren street, in the city of Brooklyn. During that year he sold them to Jacob M. Stiger, one of the defendants, for $4,600 each; in the aggregate $23,000. The consideration was all mortgage.
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Appeal from an order of the special term directing a resale of property previously sold under a decree of foreclosure. The plaintiff was, in 1870, the owner of five houses and lots in Warren street, in the city of Brooklyn. During that year he sold them to Jacob M. Stiger, one of the defendants, for $4,600 each; in the aggregate $23,000. The consideration was all mortgage. Upon each house was already a mortgage of $2,000, and Stiger executed, to plaintiff a further mortgage of $2;600, giving in all five mortgages. The houses and lots were subsequently conveyed to James S. Taylor, another of…
1Opinion of the CourtGilbert, J.
The court below must have found that the agreement sworn to by Stiger, namely, that the plaintiff should purchase at the foreclosure sale for the amount of the judgment, was in fact made. We do not feel warranted to reverse that conclusion. Assuming the existence of that agreement, it would be unconscientious and. inequitable to allow the sale to stand. Frost v. Myrick, 1 Barb. 370. The defendant, it is true, has been guilty of laches, but that fact affects only the terms on which he should be relieved. For has the purchaser acquired a vested right which prevents the interference of the…
2Cases cited3 opinions
- Requa v. ReaNew York Court of Chancery · 1831
- Cazet v. . HubbellNew York Court of Appeals · 1867
- Frost v. MyrickNew York Supreme Court · 1847