171 S.E. 255 | W. Va. | 1933
This is a lien creditors' suit in which the plaintiff asserted several judgment liens in its favor against defendants, D.C. and C. R. Pursley.
The commissioner in chancery, to whom the cause was referred for the purpose of ascertaining the liens, in the order of their priority, reported as the first lien against 250 acres of land in Roane County belonging to D.C. Pursley, a mortgage debt of $1,938.55 in favor of the Federal Land Bank of Baltimore. Only a small amount of the claim, which is payable in semi-annual installments over a long period of years, is now due. The mortgage contains an accelerating clause permitting the Land Bank, at its option, to declare the entire amount due upon the delinquency of any payment. The Land Bank, waiving its option under the accelerating clause, requested in its answer that the sale of the 250 acres of land be made subject to its mortgage.
From a decree directing sale of said land in fee, the Land *169 Bank has appealed. It still insists that its mortgage should stand and the decree be modified by directing a sale of the equity of redemption only.
It was held in Wise v. Taylor,
The decree, complained of, will be modified by directing sale of the equity of redemption only in the 250 acres of land.
Modified and affirmed.