Clark v. Wilson
Mississippi Supreme Court
Appeal from the Chancery Court of Yazoo County. Hon. E. Gr. PeytoN, Chancellor. In August, 1873, Hugh Clark and wife executed a deed of trust to Mangum, as trustee, for the benefit of Harrison & McLaren.
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Appeal from the Chancery Court of Yazoo County. Hon. E. Gr. PeytoN, Chancellor. In August, 1873, Hugh Clark and wife executed a deed of trust to Mangum, as trustee, for the benefit of Harrison & McLaren. The deed of trust contained this provision: “And should said second party [Mangum] fail, from any cause, to act herein, the said third parties [Harrison & McLaren] may appoint, in writing, any one else to execute this trust, with every power, title, and right, as well as duty, touching the same.” In November, 1873, Harrison & McLaren were adjudicated bankrupts, and Jennings and Ingram were…
1Opinion of the CourtChalmers, J.
The legal question presented is, whether the purchaser of real estate at an invalid sale under a mortgage or trust-deed, whose money has been paid, and applied to the satisfaction of the mortgage-debt, is entitled to be subrogated to the rights of the mortgagee, so as to fasten a lien on the land for the recovery of his money.
We answer the question in the affirmative, both upon principle and authority. He is to be deemed and treated as the equitable assignee of the mortgage. Muir v. Berkshire, 52 Ind. 149; Johnson v. Robertson, 34 Md. 165; Stackpole v. Robbins, 47 Barb. 212; Brobst v. Brock,…
2Cases cited5 opinions
- Brobst v. BrockSupreme Court of the United States · 1871
- Muir v. BerkshireIndiana Supreme Court · 1875
- Short v. PorterMississippi Supreme Court · 1870
- Stackpole v. RobbinsNew York Supreme Court · 1866
- Johnson v. RobertsonCourt of Appeals of Maryland · 1871
3Cited by3 opinions
- Bonner v. LessleyMississippi Supreme Court · 1883
- Harrill v. WeerSupreme Court of Oklahoma · 1910
- Long v. LongSupreme Court of Missouri · 1892