19 Iowa 405 | Iowa | 1865
There is no material disagreement about the facts, except that which relates to the charge of fraud, as specified in the foregoing statement. And as to that, we unite in the opinion that the same is not adequately and satisfactorily established by the testimony.
Assuming then, the Iona fides of the transaction between Stephens and Clark, and looking at the facts attending the same, in connection .with the other granted facts in the case, we ask, what are the respective rights and equities of" the parties ?
Now, let us see what are the rights of Philip Clark, and what is the legal position he occupies in this transaction. He was a creditor, also, of Stephens, to the amount of $655. To secure this claim, he offered and undertook to purchase of Stephens, his entire equitable interest in all this land, including the homestead of forty acres. He put in his own claim, and assumed and paid off the school fund judgment against Stephens, and took from the board of supervisors, a certificate of purchase entitling him to a deed from the State for the land. But what did he in fact get, in legal contemplation, by his purchase? He did not get the homestead right of Stephens, because the wife did not join in the sale, and now sets up in this proceeding her claim thereto. He did not get Stephens’ equitable interest, for all that had already been extinguished, by the sheriff’s deed to Twogood, except the homestead right. He claims, to be sure, not to have had any notice of the Twogood judgment, and the proceedings thereunder. But it is clear, that he was affected with constructive notice thereof, by the court record. As he is not implicated, however, in the charge of fraud, he has a right to get back the money he paid in discharge of the school fund claim, with interest thereon up to the date of Twogood’s tender.
As respects the rights of Stephens and wife, they consist in holding the homestead of forty acres, subject to pay any balance there may be on the school fund judgment after first exhausting the other land.
The decree in this case should determine and settle the rights of the parties as above indicated.
That is to say, it should order the plaintiff to make good his tender and pay the amount to the clerk of the court for the benefit of Philip Clark. It should cancel and set aside the certificate of purchase heretofore issued by the
But if Twogood shall be unwilling to bid the amount of the school fund judgment for the property levied upon, and some other person will, that person shall have the certificate of purchase.
Having said thus much parenthetically, by way of explanation, we proceed further to say, on the other hand, that if neither Twogood, or any one else, under the qualification suggested, is willing to bid off the land for tbe amount of the school fund judgment, then tbe property shall be sold for tbe best price it will bring, to tbe highest bidder, and tbe residue shall be made from a sale of the homestead, the surplus, if any, to be paid to Stephens.
With this modification, the judgment below will be affirmed, the costs of court below, as well as that of tbe appeal, to be paid in equal parts by Twogood, Clark and Stephens.
Affirmed.