Taylor v. Girard Life Insurance, Annuity & Trust Co.
Taylor v. Girard Life Insurance, Annuity & Trust Co.
Opinion of the Court
delivered the opinion of the Court:
Several errors have been assigned, which will be considered in the order of their presentation on the argument:
1. It is objected that “the decree is erroneous and invalid in that it does not declare the fact, nature or extent of the default which constituted the breach of the conditions of the deed of trust, nor does it find or adjudge the amount due under the terms and conditions of the deed of trust.” The authorities cited in support of this contention, viz., Railroad Co. v. Fosdick, 106 U. S., 47 ; Howell v. Western R. R. Co., 94 U. S., 463; Clark v. Reyburn, 8 Wall., 318, do not sustain its application to this case; the cases are different in several essential particulars.
In the first of these cases, it is said that it is “ indispensable in such a decree that there should be declared the fact, nature and extent of the default which constituted the breach of the
In Clark v. Reyburn, there had been a regular foreclosure of the mortgage as to the mortgagor, Clark, and sale thereunder, and this bill was filed against Mrs. Clark and a trustee for her benefit, who were not parties to the original bill, for a strict foreclosure of the equity of redemption, which the trustee held for her under a deed from her husband, the mortgagor. Respecting the decree appealed from, the court said: “The decree does not find either the fact or the amount of the alleged indebtedness. It is silent upon the subject The record shows no proceeding in relation to it. No time'' was given either to Mrs. Clark or her trustee within which to pay and redeem. The foreclosure was unconditional, and made absolute at once”; and for these reasons it was reversed. 8 Wall., 321.
This is a simple suit to foreclose an ordinary mortgage lien for the non-payment of notes long since due by their express terms, and of money advanced for taxes and insurance in accordance with the provisions of the deed of trust. There was no issue as to the notes and the amounts and dates of payment of the several items for taxes and insurance. The decree sets out the amounts due on these several accounts, with their maturity, and the rate of interest each shall bear, with perfect accuracy, and we think it is a sufficient finding that the money is due and its non-payment a breach of the condition of the deed of trust It is true, no special time was fixed within which defendant might redeem, but he had until the actual and final closing of the sale to do so if he desired. It was said in Railroad Co. v. Fosdick, 106 U. S., 69, that “the ordinary period fixed for redemption ought to be varied so as to be reasonable, according to the discretion of the court, and the particular circumstances of the case.” This is not the case of the foreclosure of an ordinary mortgage. The instrument signed by the defendants expressly empowered the trustees to sell the property at public sale, upon ten days’ notice only, in case of default in the payment of the notes secured thereby. The decree appealed from requires the trustees appointed therein to give at least fifteen days’ notice of the time and place of sale, and provides that it shall be made for one-third cash, and the remainder payable in one and two years.
2. The second error assigned is that “there should have been a reference to the auditor to determine the amount due.”
It was the duty of the court to ascertain and adjudge the amount due. In its discharge it had the power to call to its aid the services of the auditor, but this was a matter entirely within its discretion. When the court to whom such a cause is submitted sees proper to ascertain the amount for which judgment shall be rendered without this aid, we do not see any possible ground for complaint.
3. The action of the court in allowing complainant to recover the sums of money paid by W. B. Moses on account of taxes while the validity of the sale to him was in litigation, is the subject of the third error assigned. It is claimed that these payments were not covered by the deed of trust because the lien of that instrument is expressly limited to sums for that purpose advanced only by the “ holder of the notes.” The effect of the decree vacating the sale of the trustees to Moses was to restore the parties to the precise position occupied by them before it was made. The stattis quo was completely restored. Trotter v. White, 26 Miss., 88 ; Stackpole v. Robbins, 48 N. Y., 665 ; Fort v. Roush, 104 U. S., 142.
The money paid by Moses, during the time that he claimed ownership under his purchase, was for the benefit of the estate. Had he not relied on complainant to save him harmless, but appealed to the court for relief instead, it would not be denied him simply because he was not technically the “ holder of the notes,” recited in the trust deed. These notes were in abeyance; they had not been cancelled or delivered to Taylor. Had they been, the vacation of the sale, on Taylor’s application, would at once have worked their restoration.
It seems, however, that on account of the uncertainty attending the confirmation of the sale, it was understood that
There being no reversible error in the proceedings below, the decree must be
Affirmed.
Reference
- Full Case Name
- TAYLOR v. THE GIRARD LIFE INSURANCE, ANNUITY AND TRUST COMPANY
- Status
- Published