8 Blackf. 465 | Ind. | 1847
On" the 3d of June, 1844, Pattison filed a .bill in chancery in the Lake Circuit Court, to foreclose a mortgage executed to secure the payment of three notes dated the 31st of August, 1841. One of the notes was for 100 dollars to be paid in two years, a second for the same sum in three years, and a third for 200 dollars in four years, after that date.
At the August term of the Circuit Court, and on the 30th of August, 1844, the defendants having made default, a de
The decree appears to be based upon the report of a master in chancery, to whom the cause had been referred to compute the amount of the debt, and report the quantity of land necessary to be sold to pay the amount due and to become due. The master reported the sums as stated in the decree, and that in his opinion it would be necessaiy to sell the whole of the mortgaged land to pay the whole debt. ,
By the Revised Statutes of 1843, ch. 29, p. 461, it is provided, that when a bill shall be filed for the foreclosure of a mortgage upon which there shall be due any portion or instalment of the debt, and there shall be other portions or instalments to become due subsequently, and a decree shall pass for the complainant, the Court shall direct a reference to a master to ascertain and report the situation of the mortgaged premises; and if it shall appear that the same can be sold in parcels without injury to the interests of the parties, the decree shall direct so much of the said premises to be sold as will be sufficient to pay the amount then due on such mortgage with costs; ánd that such decree shall remain as security for any subsequent default. It is also provided in another section, p. 462, that if it shall appear to the Court that the mortgaged premises are so situated that the sale of the whole will be mos't beneficial to the parties, the decree shall, in the first instance, be entered for the sale of the whole premises.
In this case, the report of the master does not conform to the requirements of the' statute. The principal object of the reference is to ascertain if the mortgaged premises can be
-The decree is reversed with costs. Cause remanded, &c.