A Treatise on the Law of Mortgages Volume 1

A Treatise on the Law of Mortgages Volume 1

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1826 edition. Excerpt: ...the execution mfnt docketed of the conveyance, the purchaser will, it seems, supposing the purchase money jor purchase. to be an adequate consideration for the lands (1 P. Wins. 382), be relieved against the judgment in equity, Finch v. T/-e Earl of Winchelsea, 1 P. Wms. 277. 10 Mod. 468. 2 Eq. Ca. Abr. 685; because, after the contract and payment of the money, the vendor will be only a trustee for the purchaser. Sed vide what is said to be the opinion of Mr. Scrjt. Hill, in a case of this kind, post, 361, in not is. But a mortgagee for a valuable consideration and without notice shall take place of the intended purchaser; for in this case the money is lent upon the title and credit of the estate and attaches upon the land; but it is not so in the case of a judgment creditor, who (for aught that appears) might have taken out execution against the person or goods 281 3 of the party that gave the judgment; and a judgment is only a general security, not a specific lien on the land. 1 P. Wms. J79. If a mortgagee in fee purchase the equity of redemption, he will of course Mortgagee purbe protected from all judgments entered up subsequently to his mortgage, of chasl"K ""9 which he had not notice either actual or constructive at the time of the treaty /,, affected for such purchase; for by the contract he will acquire equal equity with the -"' judgjudgment creditor; and, having already the legal estate in mortgage, his title cannot be impeached. And it is observable, that for this purpose, neither the registration, nor the docketing of a judgment, will, of itself, constitute constructive notice to the mortgagee; those acts not being in themselves notice j for which see the latter end of the note to p. 568, and 606, ...show more

Product details

  • Paperback | 398 pages
  • 189 x 246 x 21mm | 708g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236499484
  • 9781236499486