20 Ind. 437 | Ind. | 1863
This was an action by James Perry against James Dickson, Stephen Pierson, George Bowen, William Crim, James Hazlett and Addison Williams, to foreclose a mortgage on lot No. 3 in the south front of the town of Anderson. The mortgage bears date July 14th, 1856, and was executed by the defendants, Dickson, Grim, Pierson, Hazlett and Bowen
Upon final hearing it was adjudged by the Court that the mortgage be foreclosed; that, for the payment of the amount due, &c.,. the mortgaged premises be exposed to sale, &c.; . that the sheriff in making the sale, first offer the “east half
The defendant, Williams, moved for a new trial; but this motion was overruled. He appeals to this Court.
The order, so far as it directs the portion of the lot “set off' to Pierson and by him sold to Williams,” to be first offered, is said to be erroneous. We think otherwise. The several owners of the residue of the lot having each paid one-fourth of the purchase money, the remaining one-fourth was, in equity, the debt of Pierson; and, as his debt, it was properly chargeable on the portion set off to him. As contended, it may be true that Williams, having purchased of Pierson, and received from the several owners of the mortgaged premises a deed “with covenants of warranty,” could recover on these covenants; but, in this Court, he is not entitled to that defence. The mortgage, being duly on record, he must be presumed to have had notice of the lien, and, to obviate a suit on the mortgage, he might have paid off the incumbrance, and then have relied on the covenants of the deed for re-payment, &c. But .the mortgagee, having been compelled to resort to his action to foreclose, there seems to be no reason why the order of the Court’as it stands should be held objectionable.
The judgment is affirmed, with costs.