Weir v. Smith
Weir v. Smith
Opinion of the Court
This is an appeal from an order of confirmation of sale of real estate entered in a real estate mortgage foreclosure proceeding. The premises involved consist of a 240-acre farm. The appellant, Orlebar D. Smith, executed the mort
The sole contention presented here is that the mortgaged premises did not sell for a fair price and that the amount bid at the sale by the plaintiff was wholly disproportionate to the fair and reasonable value of the premises. At the hearing the appellant presented three witnesses whose testimony as to valuation may be placed at $4,800, $5,000, and $4,800. The witnesses for plaintiff testified as to values of $17.50 an acre, $17 to $18 an acre, and $15 to $20 an acre. But there is a total lack of testimony that if resold the mortgaged premises would bring a better price. At the time of confirmation, there was due on the decree the sum of $2,940. In addition, outstanding unpaid taxes amounted to $262. In this situation we are required to sustain the action of the trial court.
“On appeal from an order confirming a judicial sale in a suit to foreclose a mortgage, confirmation will not be set aside for inadequacy of price, where it is not so low as to evidence fraud or as to otherwise invalidate the sale, and where the evidence does not prove that a resale would result in a better price.” Commerce Trust Co. v. Bradley,
The judgment entered by the district court is, therefore,
Affirmed.
Reference
- Full Case Name
- James E. Weir v. Orlebar D. Smith, appellant: Merna Smith
- Cited By
- 3 cases
- Status
- Published