91 Iowa 478 | Iowa | 1894
I. Plaintiff filed his petition asking for the foreclosure of a mortgage executed by defendants upon certain land in Cass county, Iowa. Defendants admitted the execution of the notes and mortgage, denied any indebtedness, and averred that said notes were without consideration. In an amendment, they made the sheriff of the county a defendant, and asked that a temporary injunction issue restraining him from executing a deed to the premises. By way of cross petition, defendants averred that since the suit began plaintiff had become the purchaser of a certificate of sheriff’s sale of said land, which sale was made in the suit of the Western Loan & Trust - Company against defendants on a mortgage subsequent to plaintiff’s, and that the equity of redemption under said sale would expire May 24,1891; that plaintiff made such purchase in advance of the termination of this suit, knowing that defendants would be unable to make sale of said land while his claim was undetermined; that there is a mortgage upon said land to the Security Loan & Trust Company for two thousand, two hundred and fifty dollars which is prior to plaintiff’s mortgage, and to the mortgage upon which the land was sold; that the amount of all these claims, with interest and taxes, is such that defendants can not secure a loan of sufficient money on the land or otherwise to redeem the same; that the land is worth six thousand dollars, and, if the cloud of plaintiff’s mortgage was removed, it is of sufficient value so that defendants can secure sufficient funds to