Gassenheimer v. Molton
Supreme Court of Alabama
Appeal from Montgomery Chancery Court. Heard before Hon. Jno. A. Foster. The original bill in this cause was. filed on 21st January, 1886, by Simon Gassenkeimer, administrator of the estate of ■Jacob Levy, deceased, against Marshall H. Molton and Mrs. A. A. Ware, the case made by the record, so far as essential to this report, being substantially as follows: The complainant’s intestate, Jacob Levy, on 12th February, 1875, obtained a judgment in the City Court- of Montgomery…
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Appeal from Montgomery Chancery Court. Heard before Hon. Jno. A. Foster. The original bill in this cause was. filed on 21st January, 1886, by Simon Gassenkeimer, administrator of the estate of ■Jacob Levy, deceased, against Marshall H. Molton and Mrs. A. A. Ware, the case made by the record, so far as essential to this report, being substantially as follows: The complainant’s intestate, Jacob Levy, on 12th February, 1875, obtained a judgment in the City Court- of Montgomery against the respondent, Mrs. A. A. Ware, for $678.40 ; on 26th May, 1875, execution was issued on said judgment, and…
1Opinion of the CourtClopton, J.
Although by our rulings, the estate vests, at law, in the mortgagee freed from the condition annexed to the mortgage, after the law-day and default in performance, an equity of redemption still remains in the mortgagor. While a foreclosure under a power of sale contained in a mortgage as effectually cuts off the equity of redemption, as would a decree in a court of equity, leaving nothing in the mortgagor but a statutory right of redemption, when the mortgagee purchases at his own sale, he arms the mortgagor with an option, if seasonably expressed, to disaffirm the sale, without reference to…
2Cases cited9 opinions
- Lovelace v. WebbSupreme Court of Alabama · 1878
- Garland v. WatsonSupreme Court of Alabama · 1883
- Bernstein v. HumesSupreme Court of Alabama · 1881
- Harbinson v. HarrellSupreme Court of Alabama · 1851
- Micou v. National BankSupreme Court of the United States · 1882
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3Cited by3 opinions
- McDonnell v. AmoTennessee Supreme Court · 1931
- Moody v. United States Fidelity & Guaranty Co.Supreme Court of Alabama · 1931
- Horton v. HovaterAlabama Court of Appeals · 1914