Maryland Reports; Cases Adjudged in the Court of Appeals of Maryland Volume 54

Maryland Reports; Cases Adjudged in the Court of Appeals of Maryland Volume 54

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1882 edition. Excerpt: ...of sale should be sufficient for the purpose; and he would receive from the trustee the whole of the proceeds, if they should not be sufficient to pay him in full. The question here does not concern his debt. It is not sought to interfere with the appropriation of the entire property tothe payment of it; nor is it sought to prevent themortgagee from proceeding against any other property of the insolvent, if he should elect to do so. The question simply is whether the trustee in insolvency is to administer his trust by selling the mortgaged property; or whether the attorney named in the mortgagels the proper party to make sale. This must be determined by the requirements of the insolvent law, unless they are contrary to some constitutional provision. It is the duty of the trustee to make sale of all the property of the insolvent, and to pay off all liens and incumbrances thereon, and he is not subject to the interference of sheriffs, mortgagees or other persons. Zeigler vs. King, 9 Md., 330. This is the remedy for the lien creditors of an insolvent, established by the statute law. It is undoubtedly within the province of the Legislature to provide the manner in which debts shall be collected. The mode of cutting off the equitable interest provided by Article 64 of the Code, exists merely because the Legislature has so determined. It is competent for the Legislature to repeal that statute, and provide some other mode of proceeding which shall preserve the right of the mortgagee to be paid his debt. It is a mistake to suppose that the mortgagee's attorney has any right to cut off the equity of redemption by sale without previous decree, except for the reason that such is the statutory remedy. And this remedy, like all others, is...show more

Product details

  • Paperback | 246 pages
  • 189 x 246 x 13mm | 445g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236892240
  • 9781236892249