Collins v. Riggs
Supreme Court of the United States
IN this case, Riggs had brought ejectment in the court below against Collins to-recover a lot, one of the several ones mentioned in the preceding ease as having been mortgaged by Russell to the United States, and bought by Corcoran from the United States after the foreclosure by the government of their mortgage and the purchase in by them of all the several lots included in it. Riggs was the grantee of Corcoran.
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IN this case, Riggs had brought ejectment in the court below against Collins to-recover a lot, one of the several ones mentioned in the preceding ease as having been mortgaged by Russell to the United States, and bought by Corcoran from the United States after the foreclosure by the government of their mortgage and the purchase in by them of all the several lots included in it. Riggs was the grantee of Corcoran. The lot in controversy in this case, like that in controversy in the preceding case, had been conveyed previously to the mortgage, by a deed not put on record, to'Breese. On. the…
1Opinion of the CourtJustice Bradley
It is clear that the criterion by which the amount tendered' was gauged was incorrect. To redeem property which has been sold under a mortgage for less than the mortgage debt, it is not sufficient to tender the amount of the sale. The whole mortgage debt must be tendered or paid into court. The party offer ing to redeem proceeds upon the hypothesis that, as to him, the mortgage has never been foreclosed and is still in existence. Therefore he can only lift it by paying it-. The money will be subject to distribution between the mortgagee and the purchaser, in equitable proportions, so as to…
2Cited by19 opinions
- Louisville Joint Stock Land Bank v. RadfordSupreme Court of the United States · 1935
- Sellwood v. GrayOregon Supreme Court · 1884
- Jones v. Van DorenSupreme Court of the United States · 1889
- McGough v. SweetserSupreme Court of Alabama · 1892
- Sheffield & B. Coal, Iron & Railway Co. v. NewmanCourt of Appeals for the Fifth Circuit · 1896
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