McBride v. Wakefield
McBride v. Wakefield
Opinion of the Court
In 1891 John O. Luke was the owner of twenty-six lots in Luke & Templeton’s Addition to the city of Omaha. Upon this property the Winona Savings Bank had a first mortgage to secure an indebtedness of $8,000. Hugo Leubben had a second mortgage on twenty of the lots to secure a note for $350, Thig note was transferred to
The first question to be considered is the character of the transaction between Wakefield and the German Savings Bank. If it was in substance a payment of the indebtedness secured by the Leubben mortgage, then, of course, that instrument ceased to be a lien on the plaintiff’s property, and the decree of foreclosure was manifestly unjust. There are circumstances which tend strongly to sustain plaintiff’s theory that an absolute payment was intended, but they are not controlling or decisive. Wakefield was bound by the terms of his contract to “take care” of the indebtedness existing against the lots conveyed to him. These lots with others rested under a common burden, and he was certainly not required to remove this burden from all the property and look to part of it for reimbursement. His obligation was not to pay off and discharge all existing liens but to “take care” of them. He was under no obligation at all with reference to lot 18; its exoneration was not within the purview of his contract. To protect himself he had the undoubted right to take an assignment of the Leubben mortgage, keep it on foot and resort to it if necessary. He did take an assignment, and thus succeeded to the rights of the former owner. From a careful examination of all the evidence we think the trial court was right in finding that the mortgage survived the assignment and was a valid and enforceable lien against the plaintiff’s property. It is true that it was Luke’s duty to discharge the lien against McBride’s lot, but that duty was never transferred to, or assumed by, Wakefield. To construe
It is further contended that the decree of foreclosure in favor of Wakefield is void because the amended answer was filed without leave and after answer day. Both answers sought a foreclosure of the same mortgage, and while the judgment may have been irregular it was not void. Neither is it inequitable. Wakefield was entitled to have lot 18 sold to satisfy the amount due bn the Leubben mortgage. This amount the defendant. does not offer to pay. He does not offer to do equity, and he is therefore not entitled to the relief demanded. The judgment is *
Affirmed.
Reference
- Full Case Name
- George W. McBride v. John A. Wakefield
- Cited By
- 1 case
- Status
- Published