Reports of Cases Decided in the Supreme Court of the State of Indiana Volume 47

Reports of Cases Decided in the Supreme Court of the State of Indiana Volume 47

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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. 1883 edition. Excerpt: Alertgage.--Rzg/zt of Arszgnor as to Jllorzjgaged Property.--Where a promissory note was secured by a mortgage of real estate by the maker, which mortgage has been foreclosed by an assignee and, on a sale under the decree, bought in by the assignee, in a suit by such assignee against his assignor, to recover a balance due on the note, it is no defence on the part of the assignor that the real. estate was worth more than the amount bid for it by the assiguee. The assignee of the note, who has thus bought the mortgaged real estate, is not a trustee for the assignor, though the latter was not a party to the foreclosure suit. PART1ES.--Forerlo.'ure of Marlgage.--A.rrz;gnor of Note not a Proper Party to Action of Foreclosure.---The assignor of a promissory note secured by a mortgage of real estate is not a necessary or proper party to an action against the maker to foreclose the mortgage. PROMISSORY N0'rE.--Sui! oy Arrigrnee Against Ar:1: gnor.--Dilz;ge1z: e in Suing Ma/eer.--Whe1"e a complaint by the holder against an assignor of a promissory note, secured by a mortgage executed by the maker of the note, alleged that suit was commenced against the maker to foreclose the mortgage at the first i term of the court, sitting next after the assignment to the plaintifl', and that a decree was obtained at said term, and the mortgaged property afterward sold on said decree, and the amount of the note not realized, and alleged that the maker at the time of the assignment had no property, other than the real estate mortgaged, subject to execution, out of which the balance of the judgment could be made, and that the maker was and still is insolvent; field, that the complaint showed suflicient diligence on the part of the assig-nee, more

Product details

  • Paperback | 222 pages
  • 189 x 246 x 12mm | 404g
  • English
  • Illustrations, black and white
  • 1236874498
  • 9781236874498