Hamilton v. State National Bank
Supreme Court of Louisiana
APPEAL from the Second District Court, Parish of Bossier. Drew, J. Morbgagos and privileges are extinguished and confused when the creditor acquires the ownership of the thing subject to tho mortgage and privilege. It. C. C. 3277, 3411; 15 Ann. 407; 25 Ann. 559, 560 ; 34 Ann. 1032, 1035; 33 Ann. 454, 463. A conventional sale or exchange, although made in satisfaction of a prior mortgage, does not discharge or extinguish existing mortgages.
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APPEAL from the Second District Court, Parish of Bossier. Drew, J. Morbgagos and privileges are extinguished and confused when the creditor acquires the ownership of the thing subject to tho mortgage and privilege. It. C. C. 3277, 3411; 15 Ann. 407; 25 Ann. 559, 560 ; 34 Ann. 1032, 1035; 33 Ann. 454, 463. A conventional sale or exchange, although made in satisfaction of a prior mortgage, does not discharge or extinguish existing mortgages. The sale must be judicial to have that effect. Ayrand vs. Babin, 7 N. S. 473. A consent sale in consideration of a prior mortgage does not defeat…
1Opinion of the Court
The opinion of the Court was delivered by
Bermudez, C. J.
This is an action to enforce a judicial mortgage against property belonging to the defendant banli.
The material facts as ascertained from the admission of the parties, are the following:
On March 20, 1878, Connell sold the property to Nowell for $4070, for which he issued his note due November 1st, 1879. The act was recoided.
On September 21st, 1878, following, plaintiffs obtained a judgment against Nowell for $2102.67 with interest and subject to a small'credit, which was recorded three days afterwards.
On December 10th, 1881, Nowell…
2Cited by6 opinions
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- Quality Finance Co. of Donaldsonville, Inc. v. BourqueSupreme Court of Louisiana · 1975
- Adler v. AdlerSupreme Court of Louisiana · 1910
- Ward v. Hayes-Ewell Co.Supreme Court of Louisiana · 1929
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