27 N.J. Eq. 207 | New York Court of Chancery | 1876
The only questions presented on the hearing were, whether the complainant’s mortgage is entitled to priority over the claims of the mechanics’ lien claimants, and whether it is valid as against the claim of inchoate right of dower set up by the wife of the mortgagor in her answer. Yo question is made as to the legality or validity of the lien claims, but the question of priority alone is raised. The complainant’s mortgage was given by William J. Griffith and wife to William F. Wan Deventer, by whom it was assigned to Jacob S. Young, who assigned it to the complainant. It was given to secure the payment of $3500 in one year from its date, April 1st, 1872, with interest. It was recorded before the building was commenced, but the money which it was intended to secure was not advanced before the commencement of the building. Part of it ($1250) ivas advanced and applied pursuant to an agreement made between the mortgagor and Wan Deventer,