34 Iowa 380 | Iowa | 1872
As before remarked no personal judgment is asked against any of the defendants. Cooley holds the land under the foreclosure sale upon the second note, so that he alone will be affected by the enforcement of plaintiffs’ claim. It is against his property that the action is brought, and that he may plead the statute of limitations in bar of the action in this respect, we have no doubt. He has taken the place of the maker of the note, as the owner of the equity of redemption. He is the purchaser of Baldwin’s interest in the land, and as such, may set up the bar of the statute. See Gower v. Winchester, supra; see, also, McCarty v. White, 21 Cal. 495; Coster v. Brown, 23 id. 142.
It is insisted by,appellee that the admission by Baldwin, that the note has never been paid, removes the bar of the statute from the right of action to enforce the lien, and cites Hendershott v. Ping, 24 Iowa, 134, as sustaining this position. We think the learned counsel has misapprehended the decision in that case. In that case a decree of foreclosure had been rendered on the mortgage, before the
Reversed.